Turkey2021 Economic Complexity Trade : 0.61, Rank 42 of 131
2021 Economic Complexity Technology : 1.23, Rank 8 of 96
2021 Economic Complexity Research : 1.02, Rank 25 of 140
2021 Product Exports | Imports: $234B | $245B, 28 of 226 | 26 of 226
2021 Per Capita Product Exports | Imports: $2.75k | $2.89k, 87 of 219 | 105 of 219
Overview In 2021, Turkey was the number 19 economy in the world in terms of GDP (current US$), the number 28 in total exports, the number 26 in total imports, the number 68 economy in terms of GDP per capita (current US$) and the number 42 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Turkey are Cars ($10B), Jewellery ($6.8B), Refined Petroleum ($6.53B), Motor vehicles; parts and accessories (8701 to 8705) ($5.94B), and Delivery Trucks ($5.8B), exporting mostly to Germany ($19.8B), United States ($14.8B), United Kingdom ($14.2B), Italy ($11.6B), and Iraq ($11.1B).
In 2021, Turkey was the world's biggest exporter of Raw Iron Bars ($4.8B), Hand-Woven Rugs ($2.71B), Wheat Flours ($1.11B), Marble, Travertine and Alabaster ($800M), and Iron Radiators ($675M)
Imports The top imports of Turkey are Refined Petroleum ($10.8B), Scrap Iron ($10.3B), Cars ($6.98B), Petroleum Gas ($6.82B), and Motor vehicles; parts and accessories (8701 to 8705) ($6.57B), importing mostly from China ($31.6B), Germany ($24.2B), Russia ($20.1B), United States ($12.4B), and Italy ($11.3B).
In 2021, Turkey was the world's biggest importer of Scrap Iron ($10.3B), Non-Retail Synthetic Filament Yarn ($1.65B), Polycarboxylic Acids ($1.52B), Unprocessed Artificial Staple Fibers ($628M), and Sunflower Seeds ($453M)
Location Turkey borders Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Iran, Iraq, and Syria by land and Cyprus, Egypt, Romania, Russia, and Ukraine by sea.
May, 2023
Overview In May 2023 Turkey exported $19.6B and imported $31.8B, resulting in a negative trade balance of $12.2B. Between May 2022 and May 2023 the exports of Turkey have increased by $2.05B (11.7%) from $17.5B to $19.6B, while imports increased by $4.59B (16.9%) from $27.2B to $31.8B.
Trade In May 2023, the top exports of Turkey were Cars, tractors, trucks & parts thereof. ($2.48B), Machinery, mechanical appliances, & parts ($1.92B), Electrical machinery and electronics ($1.12B), Precious stones, metals, & pearls ($899M), and Iron or steel articles ($830M). In May 2023 the top imports of Turkey were Mineral fuels, mineral oils and products... ($4.79B), Machinery, mechanical appliances, & parts ($3.6B), Precious stones, metals, & pearls ($3.06B), Cars, tractors, trucks & parts thereof. ($2.8B), and Iron & steel ($2.77B).
Origins In May 2023 the exports of Turkey were mainly from Ýstanbul ($9.74B), Ýzmir ($1.31B), Ankara ($1.07B), Bursa ($1.04B), and Kocaeli ($978M), while imports destinations were mainly Ýstanbul ($17.4B), Gizli Veri ($2.62B), Kocaeli ($1.86B), Ankara ($1.83B), and Ýzmir ($1.08B).
Destinations In May 2023, Turkey exported mostly to Germany ($1.62B), United States ($1.2B), United Kingdom ($1B), Spain ($913M), and Italy ($911M), and imported mostly from Russia ($4.18B), China ($4.14B), Germany ($2.44B), World ($1.86B), and United Arab Emirates ($1.81B).
Growth In May 2023, the increase in Turkey's year-by-year exports was explained primarily by an increase in exports to Russia ($372M or 85.6%), Germany ($231M or 16.7%), and France ($173M or 24.3%), and product exports increase in Cars, tractors, trucks & parts thereof. ($514M or 26.2%), Machinery, mechanical appliances, & parts ($493M or 34.5%), and Electrical machinery and electronics ($286M or 34.5%). In May 2023, the increase in Turkey's year-by-year imports was explained primarily by an increase in imports from United Arab Emirates ($1.44B or 390%), China ($1.18B or 40.1%), and Germany ($628M or 34.7%), and product imports increase in Precious stones, metals, & pearls ($1.61B or 111%), Cars, tractors, trucks & parts thereof. ($1.47B or 111%), and Machinery, mechanical appliances, & parts ($1.22B or 51.1%).
EXPORT GROWTH (May 2022 - May 2023): $2.05B, (11.7%)
IMPORT GROWTH (May 2022 - May 2023): $4.59B, (16.9%)
MAIN EXPORTER (May 2023): Ýstanbul, $9.74B
MAIN DESTINATION (May 2023): Germany, $1.62B
This section shows exports and imports data at subnational level for Turkey. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Turkey over time.
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In 2021, Turkey exported a total of $234B, making it the number 28 exporter in the world. During the last five reported years the exports of Turkey have changed by $75.3B from $158B in 2016 to $234B in 2021.
The most recent exports are led by Cars ($10B), Jewellery ($6.8B), Refined Petroleum ($6.53B), Motor vehicles; parts and accessories (8701 to 8705) ($5.94B), and Delivery Trucks ($5.8B). The most common destination for the exports of Turkey are Germany ($19.8B), United States ($14.8B), United Kingdom ($14.2B), Italy ($11.6B), and Iraq ($11.1B).
Turkey Exports Services (2020): $4.07B
Turkey Imports Services (2020): $3.01B
In 2020, Turkey exported $4.07B worth of services. The top services exported by Turkey in 2020 were Transportation ($1.78B), Travel ($1.26B), Miscellaneous business, professional, and technical services ($358M), Insurance services ($274M), and Computer and information services ($198M).
The top services imported by Turkey in 2020 were Transportation ($1.07B), Miscellaneous business, professional, and technical services ($612M), Insurance services ($421M), Royalties and license fees ($260M), and Computer and information services ($218M).
Turkey has a high level of specialization in Borates (45.9), Retail Artificial Staple Fibers Yarn (41.2), Hand-Woven Rugs (38.2), Marble, Travertine and Alabaster (32.8), and Boron (23.5). Specialization is measured using RCA, an index that takes the ratio between Turkey observed and expected exports in each product.
The highest complexity exports of Turkey according to the product complexity index (PCI) are Machine-tools; for planing, shaping, slotting, broaching, gear cutting and grinding, finishing, sawing,... (1.9), Machine-tools; for working any material by removal of material, by laser or... (1.71), Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including... (1.66), Industrial or laboratory electric furnaces and ovens (including those functioning by induction... (1.53), and Textile machinery; spinning, doubling, twisting machines, textile reeling or winding machines and... (1.52). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Turkey according to the relatedness index, were Footwear Parts (0.47), Melons (0.46), Knit Women's Coats (0.46), Pepper (0.46), and Honey (0.46). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Turkey's economy has become relatively more complex, moving from the 52nd to the 42nd 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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