Export News From Turkey

The Republic of Turkey shipped $171.1 billion worth of goods to the world in 2019. Since 2015, the dollar amount has increased by 18.9%, and from 2018 to 2019 it has increased by 1.9%. According to the average exchange rate in 2019, the Turkish lira has depreciated by -106% against the U.S. dollar since 2015, and has fallen by -14.7% from 2018 to 2019. The weak Turkish currency makes export prices paid in strong U.S. dollars relatively cheap for international buyers.

From the perspective of the mainland, in terms of value, 56% of Turkey’s exports are delivered to European countries, while 25.9% of the products are sold to Asian importers. Turkey exported another 9.3% of its goods to Africa and 5.6% of its goods to North American customers. Excluding Mexico but including the Caribbean, the proportion of Turkish exports to Latin America is much smaller (1.6%), with Australia, Marshall Islands and New Zealand led by Oceania 0.6%.

According to the latest country-specific data, 51.9% of the products exported from Turkey are purchased by importers from the following countries: Germany (9% of the global total), the United Kingdom (6.3%), Italy (5.4%) ), Iraq (5.2%), the United States (4.7%), France (4.5%), Spain (4.5%), the Netherlands (3.2%), Israel (2.5%), Russia (2.3%), Romania (2.2%) and United Arab Emirates (2.1%)). Given that Turkey has a population of 83 million, its exports in 2019 totaled US$171.1 billion, which is equivalent to approximately US$2,060 per resident in the Middle East.