Most Exported Products from Turkey and Exported Countries
Turkey is advancing to 2023, the 100th anniversary of its establishment, with an export target of 500 billion dollars. Especially the automotive, household appliances and ready-to-wear sectors are the most prominent sectors for the realization of this target.
Export figures for 2020 were announced recently. Turkey’s exports, December 2020 data, finished 2020 with a historical record of 17 billion 844 million dollars, an increase of 16% compared to the data of the same month the previous year.
Most exported products
In 2020, imports increased by 11.75% and reached 22 billion 411 million dollars. While the foreign trade volume increased by 13.58 percent to 40 billion 255 million dollars, the foreign trade deficit decreased by 2.17% to 4 billion 567 million dollars. The ratio of exports to imports was 79.6%.
In December last year, 8 billion 247 million dollars of exports were made in the raw material (intermediate goods) group. Raw material exports were followed by consumer goods with 7 billion 160 million dollars and investment goods with 2 billion 329 million dollars.
The section with the highest exports in December was motor land vehicles, tractors, motorcycles, bicycles and other land vehicles with 2 billion 508 million dollars. Then, with an export of 1 billion 833 million dollars; boilers, machines, mechanical devices and tools arrived. This was followed by iron and steel exports with 1 billion 19 million dollars.
The ratio of exports to imports is 86.8%
Excluding gold foreign trade, it was noted that the ratio of exports to imports rose to 86.8% in December 2020. Looking at the January-December 2020 period, imports excluding gold decreased by 2.4% to 194 billion 242 million dollars, and the ratio of exports to imports was calculated as 86.8%.
Exports increased by 15.46% on an annual basis in December to 16 billion 923 million dollars, while imports increased by 10.7% to 21 billion 54 million dollars. While the foreign trade deficit decreased by 5.28% to 4 billion 132 million dollars, the foreign trade volume increased by 12.77% to 37 billion 977 million dollars.
As of December 2020, the number of limited companies operating actively is 911 thousand 347, the number of joint stock companies is 151 thousand 598, the number of cooperative companies is 31 thousand 792, the number of collective companies is 10 thousand 876, the number of limited partnerships is 1932, the number of commercial enterprises is 680 thousand 378, the number of branches It was recorded as 213 thousand 514.
January-December period of 2020 in exports
According to the data announced on the official website of the Turkish Statistical Institute (TUIK); According to the special trade system, in the January-December period of 2020, exports decreased by 6.4% to 160 billion 515 million dollars, while imports increased by 3.3% to 209 billion 410 million dollars compared to the same period of the previous year.
In the January-December period, foreign trade deficit increased by 56.5% from 31 billion 239 million dollars to 48 billion 895 million dollars. While the export-import coverage ratio was 84.6% in the January-December 2019 period, it decreased to 76.7% in the same period of 2020.
Most exported products
The automotive sector exports, which were adversely affected by the closure of the country’s markets for a period due to the Covid-19 epidemic, decreased by 16.5% compared to 2019. Despite this, the automotive sector completed Turkey’s exports in the first place and became the sector with the highest exports for 15 consecutive years. On the basis of product groups, exports of passenger cars amounted to 9 billion 534 million dollars with a 20% decrease compared to 2019. Last year, 3 billion 571 million dollars of automotive exports were recorded to Germany, which is the largest market on a country basis. Afterwards, exports decreased by 27% to Italy, 16% to Spain, and 14% to France. Exports to Egypt, on the other hand, increased by 27%.
European Union (EU) countries maintained their position as the most important market of automotive with a share of 75.4% and exports of 19 billion 266 million dollars in 2020.
You may interested : State Incentives Offered to Foreign Investors in Turkey
Ready-to-wear and apparel
In the first 11 months of 2020, Turkey’s ready-made clothing and apparel exports decreased by 5.4% compared to the same period of 2019 and became 15.5 billion dollars. With an export value of 15.5 billion dollars and a share of 10.2% in overall exports, the ready-made clothing and apparel industry ranks third after the automotive industry (15% export share) and the chemicals and products industry (10.9% export share). took. At the beginning of the countries that export the most ready-made clothing and apparel from Turkey in 2020; Germany, Spain and England came. While exports of 2.8 billion dollars were made to Germany, 1.9 billion dollars were exported to Spain and 1.7 billion dollars to the UK. These countries were followed by the Netherlands with an export figure of 1.1 billion dollars and France with an export of 722 million dollars. Apart from these countries, respectively; The USA, Italy, Iraq, Denmark and Israel are other important markets for Turkey’s ready-to-wear and apparel exports.
In the first 11 months of 2020; Exports of four main products, consisting of refrigerators, washing machines, dishwashers and ovens, decreased by 6% to 16.38 million units. It is predicted that exports, which were negatively affected in the March-May period, which is described as the first wave of the pandemic process, will recover with the summer months, and there will be an increase in export rates from the second half of 2021.
Agriculture and food products
Turkey continued to be an exporter in the field of agriculture and food in 2020. In 2020, agriculture, food and forestry sector realized 20.7 billion dollars of exports and 16.1 billion dollars of imports. According to the foreign trade data published by the General Trade System (GTS), exports increased by 5% in 2020 compared to 2019.
The prominent products in exports in 2020, respectively, are hazelnut kernels, flour and pasta, while these products constitute approximately 13.6% of total exports.
Leading Countries in Export Increase
In the January-November period of 2020, compared to the same period of 2019, the Netherlands is one of the leading countries whose exports increased at a high rate and stood out in the increase in exports. Exports to this country increased by 10.9% and reached 1.1 billion dollars. While the USA ranks second with an increase of 21.5% and an export value of 721.3 million dollars, Sweden comes in third place with an increase of 4.3% and an export value of 217.2 million dollars.