Turkey Import Data

Overview of Turkey's Exports, Imports, and Market

Status of Exports and Imports

• Main Trading Partners: Among Turkey's important trading partners are Germany, the USA, Italy, Spain, and the United Kingdom.

• Exported Products: Cars, textile products, copper and metal products, plastics, and machines. These products account for approximately 35% of total exports.

• Imported Products: Petrol and petrochemical products, machines and equipment, electronic products, and medicines. These products account for approximately 40% of total imports.

• Trade Balance Status: Turkey generally experiences a trade deficit, which typically affects external debt and foreign exchange reserves.

• Trade Policies: Turkey follows a balanced export and import policy by regulating import duties and protecting certain sectors.

Status of the Turkish Market

• Consumer Spending: Consumer spending continues to make a significant contribution to economic growth, but high inflation is weakening consumer confidence.

• Interest Rates and Inflation: The increase in interest rates by the Central Bank of Turkey to control high inflation is making borrowing more expensive and slowing down spending.

• Supply Chain Status: Supply chain issues abroad are causing supply shortages and price increases, particularly in industrial materials and the technology sector.

• Sector Performance: The textile and clothing sectors, the automotive sector, and the tourism sector are showing improvement, while agriculture and mining are slowly recovering.

Overall Outlook

Turkey's economy will continue to grow thanks to strong domestic demand and access to world markets, despite its trade balance and high inflation. The government's focus on the economy and its policies of investing in strategic sectors are creating a positive atmosphere for economic growth.