OUR "AHA MOMENT" ABOUT IMPORT EXPORT DATA OF TURKEY BIRD EYE VIEW OF IMPORT EXPORT DATA OF TURKEY
BIRD EYE VIEW OF IMPORT EXPORT DATA OF TURKEY
Turkey is a transcontinental country that is having some of its land area in South-eastern Europe and some of its part in western Asia. As per the import export data of Turkey, it imported goods worth USD 219 billion in the year 2020 which was certainly an increase that was observed when it is compared to the year 2019 by almost 9.2%. Due to this upward trend in global imports, turkey was ranked at position 26 in the year 2020.
The import data collected for Turkey is a collection of each company’s business activities. The import data is purely based on shipping and import bills, invoices, and other important documents.
On the other hand, Turkey was ranked the 30th largest exporter of goods across the world as its total exports in the year 2020 were nearly USD 170 billion which was lesser than the year 219 by 0.9%.
Turkey export data always contains information about names of buyers and sellers, country names, HS codes, product descriptions, price, and quantity.
The population of Turkey was close to 84.2 million in the year 2020. If we calculate the per-person demand for Turkey in the year 2020, as per the import-export data of Turkey, there was a per-person demand of USD 2,600 in this country.
WHAT EXPERTS SAY ABOUT TURKEY IMPORT DATA
As per import stats, which is derived from Import export data of Turkey, the country got to 26th position in 2020 in most imports. Country deals in following items for import purpose from other countries.
Mineral Fuels and Oils (13.1%)
Pearls and Precious Stones (12.1%)
Machinery (11.5%)
Electrical Machinery and equipment (7.8%)
Vehicles (6.9%)
Iron and steel (6.8%)
Plastics (5.3%)
As per Turkey import data, the top 10 goods constituted almost 70% of overall imports. It is also noticed that year over year drop is seen in imports of Mineral fuels to the country.
The major countries with whom turkey is involved in importing goods are China (USD 23bn), Germany (USD 21.7bn), Russia (USD 18 bn), the USA (USD 11.5bn), Italy (USD 9.1bn), South Korea (USD 5.7bn) and UAE (USD 5.6bn).
According to Turkey Import export data, the top 10 import partners of Turkey constitute 54% of overall import trade. European countries are more inclined toward exporting their goods to Turkey. Asian partners just serve one-third of import sales. The remaining 6.1% of imports are derived from North American partners.
SCHOLARS’ VIEW ON TURKEY EXPORT DATA
As per export data, which is derived from Import export data of Turkey, the country got to 30th position in 2020 in most exports around the globe. Country deals in following items for export to the purpose from other countries.
Vehicles (13.0%)
Machinery (9.9%)
Iron and steel (5.2%)
Apparels and clothing (4.9%)
Plastics (4.1%)
Pearls and precious stones (3.9%)
Articles of iron and steel (3.7%)
As per Turkey export data, the top 10 goods constituted almost 57% of overall exports. For a few years now, fruits and nuts were the rapidly growing exporting sector. Turkey’s exports showed a considerable jump as compared to 2019 of almost 15.5%.
The major countries with whom turkey is involved in exporting goods are Germany (USD 15.9bn), the UK (USD 11.2 bn), the USA (USD 10.1bn), Italy (USD 8bn), France (USD 7.2bn), and Russia (USD 4.4bn).
According to Turkey Import export data, the top 10 export partners of Turkey constitute 49% of overall export trade. European countries are more inclined toward importing goods from Turkey. Asian partners contribute just 26% of total exports. The remaining 6.9% of imports are derived from North American partners.
JUICE OF ARTICLE, FRESHLY SERVED BEFORE YOU
We thank you if you are reading this article till this point and got some knowledge about current trends related to import export data of Turkey. Currently, Turkey is a rapidly growing country and is growing at a much faster pace. So, if we believe the numbers, then we can conclude that the exports are in a growing stage, but imports are fluctuating. If this trend continues, then the country will witness a trade surplus in some years and which can be used for the betterment of the country’s infrastructure, economy, and in various other ways.
OUR OPINION
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Global trade data