Turkey’s Top Commodity Imports & Exports

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This guide provides an overview of Turkey’s economy, including the country’s primary imports and exports.

Turkey Economy Overview

Turkey exports $177 billion worth of goods each year and is currently ranked the 29th largest export economy in the world.

The country has a negative trade balance of -$25 billion after deducting annual imports of $202 billion from its export total. Between 2013 and 2018, Turkey managed to increase its exports by $14.5 billion.

The economy of Turkey is defined as an “emerging market economy” by the IMF, with a GDP of $761 billion and a GDP per capita of $9,225 according to World Bank figures.

Turkey’s Top Exports

Here is a breakdown of the most important products exported by Turkey, both commodities and other notable exports.

Commodity Exports

  • Crude petroleum – $3.65 billion
  • Refined petroleum – $3.42 billion
  • Raw iron bars – $3.33 billion
  • Gold – $3.21 billion
  • Hot-rolled iron – $2.34 billion

If you’re interested in trading some of these commodities, you can jump to our list of recommended regulated brokers in at the end of the page.

Other Notable Exports

  • Cars – $12.9 billion
  • Delivery trucks – $5.38 billion
  • Vehicle parts – $4.63 billion
  • Jewelry – $4.29 billion
  • Non-knit women’s suits – $2.94 billion

Did you know? Turkey is the third-largest exporter of knit T-shirts, with a 6.18% share of an annual market worth $46.5 billion. China is the market leader with a 16.5% share.

The top five export destinations from Turkey are Germany ($16.6 billion), the United Kingdom ($11.9 billion), Italy ($10.1 billion), the United States ($8.57 billion), and Iraq ($8.35 billion).

Turkey’s Top Imports

Here is a breakdown of the most important products imported by Turkey, both commodities and other notable imports.

Commodity Imports

  • Refined petroleum – $12.4 billion
  • Gold – $11.3 billion
  • Scrap iron – $6.47 billion
  • Petroleum gas – $3.72 billion
  • Coal briquettes – $3.53 billion

Other Notable Imports

  • Vehicle parts – $6.45 billion
  • Cars – $6.11 billion
  • Broadcasting equipment – $2.78 billion
  • Propylene polymers – $2.78 billion
  • Packaged Medicaments – $2.53 billion

Details on Turkey’s Exports/Imports

Gold

Turkey is the world’s 17th largest exporter of gold, with a 1.05% share of an annual market worth $305 billion.

More than half of Turkey’s gold goes to two countries only, namely the United Arab Emirates (27%) and the United Kingdom (24.5%).

Raw Iron Bars

Turkey is the biggest exporter of raw iron bars in the world. It controls 18.3% of the annual export market worth $18.2 billion. The country’s closest rival, with a 7.32% market share, is Italy.

Key export destinations for Turkey’s raw iron bar exports are Yemen (12.7%), Israel (10%), Singapore (5.85%), the United States (5.76%), and Hong Kong (5.47%).

Wheat Flours

Turkey leads the way in wheat flours exports, enjoying a 20.8% share of an annual export market worth $4.85 billion.

Kazakhstan is Turkey’s closest export rival with a 9.25% share. However, Turkey maintains its competitive edge as a key player of grain in this region with two modern flour mills operating close to important seaports.

Citrus Fruits

Spain is the leading exporter of citrus fruits with a 27% market share, while Turkey is the fourth largest exporting country with a 6.17% share of the annual export market worth $15.2 billion.

Russia receives 32.7% of Turkey’s citrus fruits, with Iraq (14.6%) and Ukraine (9.61%) trailing in 2nd and 3rd place.

Interesting Facts About Turkey

  • Despite most of the Turkish population being Muslim, it has been recognized as a secular nation rather than a Muslim country since 1927.
  • The capital city of Istanbul spans two continents, with 97% in Asia and 3% of the city officially part of Europe.

Interested in Trading Commodities?

Interested in trading petroleum, iron ore, gold, and other important Turkish commodities? Start your research with reviews of these regulated brokers available in .

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <b>Between 71.00%-89.00% of retail investor accounts lose money when trading CFDs.</b> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Sources and Further Reading

Also see our guides on stock, CFD, and commodity brokers to find out which online trading platforms are available in .

All currency is reported in US dollars.

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