Flag Italy / Turkey Flag

Exports Flag β†’ Flag  (2018): $10.4B, Rnk 12 / 213

Top Product Flag β†’ Flag (2018): $790M, Refined Petroleum

Exports Flag β†’ Flag (2018): $10.1B, Rnk 3 / 205

Top Product Flag β†’ Flag (2018): $1.9B, Cars

Economic Complexity of Flag (2018): ECI 1.31, Rnk 18 / 137

Economic Complexity of Flag (2018): ECI 0.57, Rnk 43 / 137

GDP Flag (2018): $2.08T, CURRENT US$
Rnk 8 / 196

GDP GROWTH Flag (2008-2018): -13.1%, CURRENT US$
Rnk 187 / 196

GDP Flag (2018): $771B, CURRENT US$
Rnk 19 / 196

GDP GROWTH Flag (2008-2018): 0.92%, CURRENT US$
Rnk 162 / 196

GDP PC Flag (2018): $34,483, CURRENT US$
Rnk 29 / 196

GDP PC GROWTH Flag (2008-2018): -15.4%, CURRENT US$
Rnk 176 / 196

GDP PC Flag (2018): $9,370, CURRENT US$
Rnk 80 / 196

GDP PC GROWTH Flag (2008-2018): -13.7%, CURRENT US$
Rnk 172 / 196

Italy-Turkey: In 2018, Italy exported $10.4B to Turkey. The main products that Italy exported to Turkey are Refined Petroleum ($790M), Vehicle Parts ($632M), and Combustion Engines ($364M). During the last 23 years the exports of Italy to Turkey have increased at an annualized rate of 5.18%, from $3.25B in 1995 to $10.4B in 2018.

In 2016, Italy exported services to Turkey worth $1.01B, with Transportation ($323M), Travel ($232M), and Other business services ($200M) being the largest in terms of value.

Turkey-Italy: In 2018, Turkey exported $10.1B to Italy . The main products that Turkey exported to Italy were Cars ($1.9B), Hot-Rolled Iron ($754M), and Delivery Trucks ($684M). During the last 23 years the exports of Italy to Turkey have increased at an annualized rate of 5.18%, from $3.25B in 1995 to $10.4B in 2018.

In 2011, Turkey exported services to Italy worth $438M, with Travel ($418M), Other business services ($16.7M), and Insurance services ($2.79M) being the largest in terms of value.

Comparison: In 2018,  Italy ranked 18 in the Economic Complexity Index (ECI 1.31), and 8 in total exports ($540B). That same year, Turkey ranked 43 in the Economic Complexity Index (ECI 0.57), and 29 in total exports ($177B).

Bilateral Trade by Products

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Depth
Value

In 2018, Italy exported $10.4B to Turkey. The main products exported from Italy to Turkey were Refined Petroleum ($790M), Vehicle Parts ($632M), and Combustion Engines ($364M). During the last 23 years the exports of Italy to Turkey have increased at an annualized rate of 5.18%, from $3.25B in 1995 to $10.4B in 2018.

In 2018, Turkey exported $10.1B to Italy. The main products exported from Turkey to Italy were Cars ($1.9B), Hot-Rolled Iron ($754M), and Delivery Trucks ($684M). During the last 23 years the exports of Turkey to Italy have increased at an annualized rate of 8.46%, from $1.56B in 1995 to $10.1B in 2018.

Market Competitiveness

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Measure

Italy
Top Destination
: Germany, $67.8B

Turkey
Top Destination
: Germany, $16.6B

This map shows whether countries import more from Italy or Turkey. Each country is colored based on the difference in imports they receive from Italy and Turkey or the difference in the growth in imports.

In 2018, countries that imported more from Italy than Turkey were Germany ($67.8B), France ($56.4B), and United States ($50.6B).

In 2018, countries that imported more from Turkey than Italy were Iraq ($8.35B), Israel ($6.35B), and Azerbaijan ($1.55B).

Comparative Advantage Italy - Turkey

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Depth

This chart compares trade between Italy and Turkey by product, considering products traded by both, Italy and Turkey.

During 2018, Italy had a large net trade with Turkey in the exports of Machines ($3.44B), Transportation ($1.14B), and Chemical Products ($966M).

During 2018, Turkey had a large net trade with Italy in the exports of Transportation ($3.52B), Metals ($1.84B), and Textiles ($1.39B).

Tariff Section

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This section shows import tariffs for products traded between Italy and Turkey (using the HS6 product classification and the last year reported).

In 2017, the products from Italy that paid the highest import tariffs to enter Turkey were Whey (173%) and Mushrooms, prepared or preserved, not in vinegar (117%).

In 2018, the products from Turkey that paid the highest import tariffs to enter Italy were Bovine cuts boneless, fresh or chilled (225%) and Bovine cuts boneless, frozen (225%).

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*The tariffs present between Italy and Turkey are:
119: Customs Union between EU and Turkey
122: EU preferential tariff for sugar producing countries
136: Most Favoured Nation duty rate treatement

Trade Forecasts

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This section shows a forecast for total trade between ${linkedName1} and ${linkedName2}. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

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Bilateral Service Trade

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In 2016, Italy exported services to Turkey worth $1.01B, with Transportation ($323M), Travel ($232M), and Other business services ($200M) being the largest in terms of value.

In 2011, Turkey exported services to Italy worth $438M, with Travel ($418M), Other business services ($16.7M), and Insurance services ($2.79M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Italy has comparative advantage over Turkey. Similarly, the more red a dot/product is, the more Turkey has comparative advantage over Italy.