Market research into current import / export data from Turkey

Export Growth in Turkey

Turkey's exports increased in 2021, which was considered a successful year for Turkey:

In 2021, exports reached their highest level of all time, at approximately $225.4 billion.
In the first seven months of 2022, the export rate has risen to $144.4 billion and is continuing to grow.
The Turkish economy grew by 11% in 2021 and 7.3% in the first quarter of 2022.

Turkey is currently one of the largest exporters in the world thanks to this growth. Half of this growth came from exports, indicating that Turkish suppliers have gained the trust of European companies. They did this very effectively during the pandemic thanks to smooth supply chains.

Typical market research in Turkey

Total export

In October 2022, total exports increased by 2.8% compared to the previous year and reached a surcharge of $21.30 billion in the same month.

Industrial sectors

In October 2022, 17 of 27 sectors increased their share of the export market compared to the year prior. The automotive sector led the industry with $2.65 billion, followed by the health sector with $2.61 billion, and the textile sector with $1.71 billion.

Importing countries worldwide

In October 2022, exports were made to 217 countries. The top ten countries' export share was 47.81%, while the top 20 countries' share was 64.46%.

The top three countries for Turkish exports in October 2022 were:

Germany = $1.526 billion
The US = $1.111 billion.
United Kingdom = $1.31 billion

The top five cities for exports included:

Istanbul = $8.327 billion
Kocaeli = $1.496 billion
Bursa = $1.303 billion
Izmir = $1.64 billion
Gaziantep = $959 million

In October 2022, 38 provinces in Turkey increased their exports.

Bar chart top 15 export countries Turkey

Strengths

Large, dynamic domestic market
Young and growing population
Favorable geographic location
Well-developed industrial base
Highly motivated and hard-working workforce

Weaknesses

Political tension, internally and externally
Bureaucratic and tariff barriers on imports
Volatility in solid currency exchange rate
High inflation
Heavy import dependence in industrial and energy sectors

Opportunities

Regional energy center
Interest in renewable energy and energy efficiency
Expansion of mass transportation infrastructure
Production of high-quality products locally
Interest in digitalization and Industry 4.0

Threats

The unpredictability of political decisions
Regional military conflicts
Problems with implementing the rule of law
Brain-drain

Quelle: Germany Trade & Invest 2022

Over 26 years, Turnkey Sourcing has developed a network of suppliers in these and more industries.

Do you need support with your sourcing issues in Turkey?

Would you like to optimize your sourcing strategy?

Contact