Turkey2020 Economic Complexity : 0.58, Rank 38 of 127
2020 Product Exports | Imports: $177B | $207B, 29 of 226 | 23 of 226
2020 Per Capita Product Exports | Imports: $2.09k | $2.46k, 83 of 219 | 103 of 219
2018 Service Exports | Imports : $8.48B | $3.87B, 57 of 125 | 73 of 125
Overview In 2020 Turkey was the number 19 economy in the world in terms of GDP (current US$), the number 29 in total exports, the number 23 in total imports, the number 79 economy in terms of GDP per capita (current US$) and the number 38 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Turkey are Cars ($10.1B), Vehicle Parts ($4.59B), Delivery Trucks ($4.34B), Gold ($3.97B), and Refined Petroleum ($3.51B), exporting mostly to Germany ($16.3B), United Kingdom ($12.7B), United States ($10.3B), Iraq ($9.14B), and Italy ($8.23B).
In 2020, Turkey was the world's biggest exporter of Raw Iron Bars ($2.6B), Hand-Woven Rugs ($2.22B), Wheat Flours ($949M), Marble, Travertine and Alabaster ($679M), and Stranded Copper Wire ($349M)
Imports The top imports of Turkey are Gold ($23.7B), Cars ($8.17B), Refined Petroleum ($6.13B), Scrap Iron ($6.01B), and Vehicle Parts ($5.84B), importing mostly from Germany ($24B), China ($22.1B), Russia ($13.1B), United States ($10.7B), and Italy ($8.94B).
In 2020, Turkey was the world's biggest importer of Scrap Iron ($6.01B), Non-Retail Synthetic Filament Yarn ($1.21B), Sunflower Seeds ($560M), Unprocessed Artificial Staple Fibers ($409M), and Looms ($334M)
Location Turkey borders Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Iran, Iraq, and Syria by land and Cyprus, Egypt, Romania, Russia, and Ukraine by sea.
December, 2021
Overview In December 2021 Turkey exported $21.2B and imported $27.4B, resulting in a negative trade balance of $6.26B. Between December 2020 and December 2021 the exports of Turkey have increased by $4.23B (25%) from $16.9B to $21.2B, while imports increased by $6.38B (30.3%) from $21B to $27.4B.
Trade In December 2021, the top exports of Turkey were Vehicles ($2.54B), Nuclear reactors, boilers, machinery and mechanical... ($1.8B), Iron and steel ($1.75B), Precious metals, gems and jewelry ($1.07B), and Electrical machinery and equipment and parts... ($1.06B). In December 2021 the top imports of Turkey were Mineral fuels, mineral oils and products... ($6.95B), Nuclear reactors, boilers, machinery and mechanical... ($3.1B), Iron and steel ($2.73B), Electrical machinery and equipment and parts... ($1.76B), and Plastics and articles thereof ($1.69B).
Origins In December 2021 the exports of Turkey were mainly from Ýstanbul ($10.2B), Ýzmir ($1.23B), Kocaeli ($1.16B), Bursa ($1.01B), and Gaziantep ($939M), while imports destinations were mainly Ýstanbul ($12.4B), Gizli Veri ($5.14B), Ankara ($1.38B), Kocaeli ($1.34B), and Ýzmir ($940M).
Destinations In December 2021, Turkey exported mostly to Germany ($1.67B), United States ($1.41B), United Kingdom ($1.3B), Italy ($1.08B), and Iraq ($1.04B), and imported mostly from World ($4.01B), Russia ($3.17B), China ($2.95B), Germany ($1.84B), and United States ($1.34B).
Growth In December 2021, the increase in Turkey's year-by-year exports was explained primarily by an increase in exports to United Arab Emirates ($260M or 89.6%), United States ($227M or 35.3%), and France ($81.8M or 13.3%), and product exports increase in Precious metals, gems and jewelry ($289M or 54.7%), Nuclear reactors, boilers, machinery and mechanical... ($138M or 10.9%), and Plastics and articles thereof ($56.4M or 11.3%). In December 2021, the increase in Turkey's year-by-year imports was explained primarily by an increase in imports from China ($408M or 23%), France ($208M or 44.8%), and Germany ($170M or 12.9%), and product imports increase in Vehicles ($336M or 43.9%), Iron and steel ($287M or 21.1%), and Nuclear reactors, boilers, machinery and mechanical... ($243M or 13.5%).
EXPORT GROWTH (December 2020 - December 2021): $4.23B, (25%)
IMPORT GROWTH (December 2020 - December 2021): $6.38B, (30.3%)
MAIN EXPORTER (December 2021): Ýstanbul, $10.2B
MAIN DESTINATION (December 2021): Germany, $1.67B
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 2020, 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 $18.1B from $158B in 2015 to $177B in 2020.
The most recent exports are led by Cars ($10.1B), Vehicle Parts ($4.59B), Delivery Trucks ($4.34B), Gold ($3.97B), and Refined Petroleum ($3.51B). The most common destination for the exports of Turkey are Germany ($16.3B), United Kingdom ($12.7B), United States ($10.3B), Iraq ($9.14B), and Italy ($8.23B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Turkey Exports Services (2018): $8.48B
Turkey Imports Services (2018): $3.87B
In 2018, Turkey exported $8.48B worth of services. The top services exported by Turkey in 2018 were Personal travel ($3.91B), Air transport ($2.43B), Business travel ($506M), Other transport ($335M), and Sea transport ($330M).
The top services imported by Turkey in 2018 were Sea transport ($856M), Air transport ($717M), Personal travel ($496M), Miscellaneous business, professional, and technical services ($426M), and Business travel ($310M).
The top product import tariffs by their MFN Ad Valorem value for Turkey are Vermouth and other flavoured grape wines - pack > 2l (8.72k%) and Bovine cuts boneless, fresh or chilled (225%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Turkey are:
Turkey has a high level of specialization in Hand-Woven Rugs (41), Borates (38.9), Marble, Travertine and Alabaster (36.2), Stranded Copper Wire (20.3), and Wheat Flours (19). 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 shaping metals, nes (2.09), Machine-tools for non-mechanical removal of material (1.73), Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.67), Moulds for metals (except ingot), plastic, rubber, etc (1.49), and Machine-tools for forging, die-stamping, bending metal (1.47). 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, are Knit Women's Coats (0.47), Melons (0.46), Preserved Vegetables (0.46), Footwear Parts (0.46), and Other Fruits (0.45). 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 50th to the 38th 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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