Flag Turkey

Econ Complexity (2018): 0.57, Rank 43 of 137

Product Exports (2018): $177B, Rank 29 of 222

Exports Per Capita (2018): $2.14k, Rank 79 of 219

Product Imports (2018): $202B, Rank 26 of 221

Imports Per Capita (2018): $2.45k, Rank 79 of 219

Service Exports (2018): $57.6B, Rank 13 of 88

Service Imports (2018): $27B, Rank 22 of 88

GDP (2018): $771B, CURRENT US$
Rank 19 of 196

GDP growth (2008 - 2018): 0.92%, CURRENT US$
Rank 162 of 196

GDP PC (2018): $9,370, CURRENT US$
Rank 80 of 196

GDP PC GROWTH (2008 - 2018): -13.7%, CURRENT US$
Rank 172 of 196

Overview: In 2018 Turkey was the number 19 economy in the world in terms of GDP (current US$), the number 29 in total exports, the number 26 in total imports, and the number 43 most complex economy according to the Economic Complexity Index (ECI). In 2018, Turkey exported $177B and imported $202B, resulting in a negative trade balance of -$25B. In 2018, Turkey's exports per capita were $2.14k and its imports per capita were $2.45k.

Trade: The top exports of Turkey are Cars ($12.9B), Delivery Trucks ($5.38B), Vehicle Parts ($4.63B), Jewellery ($4.29B), and Crude Petroleum ($3.65B). The top imports of Turkey are Refined Petroleum ($12.4B), Gold ($11.3B), Scrap Iron ($6.47B), Vehicle Parts ($6.45B), and Cars ($6.11B).

Destinations: Turkey exports mostly to Germany ($16.6B), United Kingdom ($11.9B), Italy ($10.1B), United States ($8.57B), and Iraq ($8.35B), and imports mostly from Germany ($22.1B), China ($19.2B), Russia ($15.9B), United States ($10.6B), and Italy ($10.4B).

Location: Turkey borders Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Iran, Iraq, and Syria by land and Cyprus, Egypt, Romania, Russia, and Ukraine by sea.

Product Exports

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Top Export (2018): Cars, $12.9B

Top Destination (2018): Germany, $16.6B

In 2018 Turkey exported a total of $177B, making it the number 29 exporter in the world. During the last five reported years the exports of Turkey have changed by $14.5B from $162B in 2013 to $177B in 2018.

The most recent exports are led by Cars ($12.9B), Delivery Trucks ($5.38B), Vehicle Parts ($4.63B), Jewellery ($4.29B), and Crude Petroleum ($3.65B). The most common destination for the exports of Turkey are Germany ($16.6B), United Kingdom ($11.9B), Italy ($10.1B), United States ($8.57B), and Iraq ($8.35B).

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Product Imports

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Top Import (2018): Refined Petroleum, $12.4B

Top Origin (2018): Germany, $22.1B

In 2018 Turkey imported $202B, making it the number 26 trade destination in the world. During the last five reported years the imports of Turkey changed by -$22.3B from $224B in 2013 to $202B in 2018.

The most recent imports of Turkey are led by Refined Petroleum ($12.4B), Gold ($11.3B), Scrap Iron ($6.47B), Vehicle Parts ($6.45B), and Cars ($6.11B). The most common import partners for Turkey are Germany ($22.1B), China ($19.2B), Russia ($15.9B), United States ($10.6B), and Italy ($10.4B).

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Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Turkey Exports Services (2018): $57.6B

Turkey Imports Services (2018): $27B

In 2018, Turkey exported $57.6B worth of services. The top services exported by Turkey in 2018 were Transportation ($24.7B), Personal travel ($22.3B), Business travel ($2.89B), Other business services ($2.75B), and Computer and information services ($1.44B).

The top services imported by Turkey in 2018 were Transportation ($9.06B), Other business services ($5B), Personal travel ($2.83B), Computer and information services ($2.17B), and Insurance services ($1.97B).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Turkey. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Turkey are Bovine cuts boneless, fresh or chilled (225%) and Bovine cuts boneless, frozen (225%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Turkey are:
136: Most Favoured Nation duty rate treatement
139: Non-MFN duty rate for countries excluded from Most-Favoured- Nation (MFN) treatement
153: Preferential tafiff for Malaysia
160: Preferential tariff for Albania
172: Preferential tariff for Bosnia and Herzegovina
182: Preferential tariff for Chile
206: Preferential tariff for Egypt
217: Preferential tariff for European Free Trade Association (EFTA) countries
219: Preferential tariff for European Union countries (AA) Association Agreement
222: Preferential tariff for Faroe Islands
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
242: Preferential tariff for Iran
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
263: Preferential tariff for Macedonia, Former Yugoslav Republic of
267: Preferential tariff for Mauritius
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
299: Preferential tariff for Singapore
318: Preferential tariff for the republic of Moldova
321: Preferential tariff for Tunisia
345: Preferential Trade Agreement among D-8 Member States: D-8 Organization for Economic Cooperation
383: Turkey Generalized System of Preference
384: Turkey GSP for Least Developed Countries

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Turkey's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨53rd to the 43rd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Turkey has a high level of specialization in Borates (47.6), Marble, Travertine and Alabaster (43.2), Hand-Woven Rugs (39.1), Wheat Flours (21.7), and Stranded Copper Wire (21.4). Specialization is measured using RCA, an index that takes the ratio between Turkey observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Turkey according to the product complexity index (PCI) are Machine-tools for shaping metals, nes (2.02), Machine-tools for non-mechanical removal of material (2.01), Gaskets and similar joints of metal sheet (1.86), Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.64), and Acrylic polymers in primary forms (1.63). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Turkey according to the relatedness index, are Knit Women's Coats (0.43), Melons (0.43), Non-Knit Men's Coats (0.43), Non-Knit Women's Coats (0.43), and Sheep Hides (0.42). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Turkey is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.