Turkey’s Exports Hit Record High in 2022, Imports Also Up
10 June 2023
In spite of the negative effects of the slowdown in
global markets, Turkey’s exports hit a record high of USD 254 billion in 2022,
with about a 12% annual increase. Imports also rose and stood at USD 363
billion. At a time when the world is struggling with serious political and
economic problems, Turkey has managed to continue with uninterrupted
investments, increase employment, and boost exports.
Turkey’s Exports Hit Record High in
2022, Imports Also Increase
Turkey managed to end 2022 with the highest export
figures despite global challenges that clouded the trade outlook. In the past
five years, Turkey has reported a record sale of goods in 2022, and exports
reaching USD 254 billion. Turkey’s imports also increased last year and stood
at USD 363 billion. See the chart to have further analysis.
|
Year |
Import Value USD Million |
Export Value USD Million |
|
2018 |
223,046 |
167,923 |
|
2019 |
210,346 |
180,870 |
|
2020 |
219,514 |
169,657 |
|
2021 |
271,422 |
225,264 |
|
2022 |
363,710 |
254,171 |
Turkey’s Major Imports and Exports
in 2022
In product categories, vehicles other than railway or tramway were the top export commodity and mineral fuels & oils were the top import commodity of Turkey. Imports of mineral fuels and oil jumped to USD 96,548 million in 2022 as compared to USD 50,691 million reported in 2021. Even in exports, mineral fuels, and oils saw a steady rise in the value of shipments from USD 8,516 million in 2021 to USD 16,374 million in 2022. Here is a list of Turkey’s top 10 imports and exports recorded in 2022.
|
Import Product Category |
Value USD Million |
Export Product Category |
Value USD Million |
|
Mineral Fuels and Oils |
96,548 |
Vehicles Other Than Railway or Tramway |
26,804 |
|
Machinery, Mechanical Appliances, etc. |
34,574 |
Machinery, Mechanical
Appliances, etc. |
22,675 |
|
Iron and Steel |
28,366 |
Mineral Fuels and Oils |
16,374 |
|
Pearls and Precious Stones & Metals |
23,457 |
Iron and Steel |
14,628 |
|
Electrical Machinery & Equipment |
21,534 |
Electrical Machinery & Equipment |
13,705 |
|
Plastics and Articles |
18,975 |
Plastics and Articles |
11,570 |
|
Vehicles Other Than Railway or Tramway |
17,678 |
Knitted or Crocheted Apparel & Clothing |
11,011 |
|
Organic Chemicals |
11,119 |
Articles of Iron and
Steel |
10,535 |
|
Aluminium and Articles |
7,683 |
Pearls and Precious Stones & Metals |
10,206 |
|
Copper and Articles |
5,510 |
Not Knitted or
Crocheted Apparel & Clothing |
8,464 |
Turkey’s Top Import and Export
Partners in 2022
Germany was the top export market as it received
Turkish goods worth USD 21,144 million in 2022. The United States of America
followed with USD 16,882 million, Iraq with USD 13,750 million, and the United
Kingdom with USD 13,010 million.
Most of the imports in 2022 came from Russia at nearly USD 58,853 million, followed by China with USD 41,353 million, and Germany with USD 24,032 million. Here is a list of Turkey’s top 10 trading partners reported in 2022.
|
Import Partner |
Value USD Million |
Export Partner |
Value USD Million |
|
Russia |
58,853 |
Germany |
21,144 |
|
China |
41,353 |
United States of
America |
16,882 |
|
Germany |
24,032 |
Iraq |
13,750 |
|
Switzerland |
15,342 |
United Kingdom |
13,010 |
|
United States of America |
14,083 |
Italy |
12,353 |
|
Italy |
10,697 |
Spain |
9,650 |
|
India |
9,429 |
France |
9,548 |
|
France |
9,004 |
Russia |
9,343 |
|
South Korea |
7,003 |
Netherlands |
8,028 |
|
Spain |
5,903 |
Israel |
7,032 |
Despite 2022 being a challenging year for both the
global developed economies and developing countries, the performance of the
Turkish economy is commendable due to the business success of exporters in
particular. Turkey, which is one of the leading countries that provide
advantages in production and exports in the restructuring process of global
supply chains, has continued to refresh historical peaks in foreign sales.
