2023
Exports
$9.17BWorld Rnk 17 / 219
Flag Rnk 10 / 96
2023
PRODUCT COMPLEXITY IN Iron & steel
1.66Rnk 26 / 1025
2023
Imports
$24BWorld Rnk 5 / 224
Flag Rnk 6 / 96
2023
ECONOMIC COMPLEXITY of Turkey
0.62Rnk 41 / 132

About

Exports In 2023, Turkey exported $9.17B in Iron & steel, making it the 17th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 10th most exported product in Turkey. The main destination of Iron & steel exports from Turkey are: Israel ($599M), Romania ($562M), Italy ($552M), Yemen ($472M), and Egypt ($423M).

The fastest growing export markets for Iron & steel of Turkey between 2022 and 2023 were Ukraine ($204M), Ethiopia ($54.5M), and Russia ($37.8M).

Imports In 2023, Turkey imported $24B in Iron & steel, becoming the 5th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 6th most imported product in Turkey. Turkey imports Iron & steel primarily from: Russia ($3.33B), China ($3.14B), United States ($2B), South Korea ($1.67B), and Netherlands ($991M).

The fastest growing import markets in Iron & steel for Turkey between 2022 and 2023 were Malaysia ($381M), Egypt ($350M), and South Korea ($342M).

COMPANIES In 2023, leading companies such as Emser Tile (1) and BSH Home Appliances (1) were at the forefront of shipping Iron & steel from Turkey to the United States.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron & steel. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$9.17B
IMPORTS (2023)$24B
NET TRADE (2023)-$14.8B

In 2023, Turkey exported $9.17B in Iron & steel. The main destinations of Turkey exports on Iron & steel were Israel ($599M), Romania ($562M), Italy ($552M), Yemen ($472M), and Egypt ($423M).

In 2023, Turkey imported $24B in Iron & steel, mainly from Russia ($3.33B), China ($3.14B), United States ($2B), South Korea ($1.67B), and Netherlands ($991M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Turkey WERE (2022 - 2023):
Ukraine$204M (110%)
Ethiopia$54.5M (55%)
Russia$37.8M (43.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Turkey WERE (2022 - 2023):
Italy-$613M (-52.6%)
United States-$599M (-73.1%)
Israel-$432M (-41.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Turkey's main exporting competitors in Iron & steel were:
China $66.2B
Germany $32.6B
Japan $31.6B
In 2023, Turkey's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $280M
TOP IMPORT POTENTIALGermany+ $333M

Iron & steel’s highest export potential is United States. With an export gap of $280M.   Iron & steel’s highest import potential is Germany with an import gap of $333M.

See methodology.

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