Overview: In 2018 Turkey was the number 19 economy in the world in terms of GDP (current US$), the number 29 in total exports, the number 26 in total imports,
the number 80 economy in terms of GDP per capita (current US$) and the number 43 most complex economy according to the Economic Complexity Index (ECI)
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.
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.
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).
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.
*The tariffs applied to imports for Turkey are:136: Most Favoured Nation duty rate treatement139: Non-MFN duty rate for countries excluded from Most-Favoured- Nation (MFN) treatement153: Preferential tafiff for Malaysia160: Preferential tariff for Albania172: Preferential tariff for Bosnia and Herzegovina182: Preferential tariff for Chile206: Preferential tariff for Egypt217: Preferential tariff for European Free Trade Association (EFTA) countries219: Preferential tariff for European Union countries (AA) Association Agreement222: Preferential tariff for Faroe Islands224: Preferential tariff for for occupied Palestinian territory226: Preferential tariff for Georgia242: Preferential tariff for Iran244: Preferential tariff for Israel247: Preferential tariff for Jordan249: Preferential tariff for Korea, Republic of263: Preferential tariff for Macedonia, Former Yugoslav Republic of267: Preferential tariff for Mauritius272: Preferential tariff for Montenegro273: Preferential tariff for Morocco299: Preferential tariff for Singapore318: Preferential tariff for the republic of Moldova321: Preferential tariff for Tunisia345: Preferential Trade Agreement among D-8 Member States: D-8 Organization for Economic Cooperation383: Turkey Generalized System of Preference384: Turkey GSP for Least Developed Countries
During the last 20 years Turkey's economy has become relatively más 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.
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.
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.
Turkey
