Based on the average exchange rate for 2019, the Turkish lira depreciated by -106% against the US dollar since 2015 and declined by -14.7% from 2018 to 2019. Turkey’s weaker local currency makes its exports paid for in stronger US dollars relatively less expensive for international buyers.
From a continental perspective, 56% of Turkish exports by value were delivered to European countries while 25.9% were sold to importers in Asia. Turkey shipped another 9.3% worth of goods to Africa and 5.6% to North American customers. Much smaller percentages of Turkish exports arrived in Latin America (1.6%) excluding Mexico but including the Caribbean, with 0.6% going to Oceania led by Australia, Marshall Islands and New Zealand.
The latest available country-specific data shows that 51.9% of products exported from Turkey were bought by importers in: Germany (9% of the global total), United Kingdom (6.3%), Italy (5.4%), Iraq (5.2%), United States (4.7%), France (4.5%), Spain (4.5%), Netherlands (3.2%), Israel (2.5%), Russia (2.3%), Romania (2.2%) and United Arab Emirates (2.1%).
Given Turkey’s population of 83 million people, its total $171.1 billion in 2019 exports translates to roughly $2,060 for every resident in the Middle Eastern country.
Turkey’s Top 10 Exports
Top 10
The following export product groups represent the highest dollar value in Turkish global shipments during 2019. Also shown is the percentage share each export category represents in terms of overall exports from Turkey.
- Vehicles: US$26.2 billion (15.3% of total exports)
- Machinery including computers: $16.5 billion (9.6%)
- Iron, steel: $9.9 billion (5.8%)
- Knit or crochet clothing, accessories: $9.1 billion (5.3%)
- Electrical machinery, equipment: $8.7 billion (5.1%)
- Gems, precious metals: $7.3 billion (4.3%)
- Mineral fuels including oil: $7.3 billion (4.3%)
- Articles of iron or steel: $6.5 billion (3.8%)
- Clothing, accessories (not knit or crochet): $6.5 billion (3.8%)
- Plastics, plastic articles: $6.3 billion (3.7%)
Turkey’s top 10 exports accounted for roughly three-fifths (60.9%) of the overall value of its global shipments.
Mineral fuels including oil was the fastest-growing among the top 10 export categories, up by 65.8% since 2018 and led by robust international revenues from refined petroleum oils. In second place for improving export sales was plastics including plastic articles which rose by 4%. Turkey’s shipments of machinery including computers also posted a 4% year-over-year gain.
The leading decliner among Turkey’s top 10 export categories was iron and steel thanks to a -13.9% drop.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Turkey’s Most Valuable Export Products further down below.
Advantages
The following types of Turkish product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Vehicles: US$16.5 billion (Up by 28.6% since 2018)
- Knit or crochet clothing, accessories: $8.6 billion (Up by 1.7%)
- Clothing, accessories (not knit or crochet): $5.6 billion (Up by 7.8%)
- Articles of iron or steel: $4.1 billion (Up by 10.5%)
- Fruits, nuts: $3.7 billion (Up by 9.2%)
- Furniture, bedding, lighting, signs, prefab buildings: $2.8 billion (Up by 20.6%)
- Textile floor coverings: $2.5 billion (Up by 12%)
- Salt, sulphur, stone, cement: $2.3 billion (Up by 9.2%)
- Miscellaneous textiles, worn clothing: $1.9 billion (Down by -0.2%)
- Vegetable/fruit/nut preparations: $1.7 billion (Down by -6.9%)
Turkey has highly positive net exports in the international trade of cars, trucks and tractors. In turn, these cashflows indicate Turkey’s strong competitive advantages under the knit or crochet clothing product categories.
Opportunities
Overall Turkey incurred a -$29.6 billion deficit on all products for 2019. That amount is a -46.4% reduction from the -$55.1 billion in red ink one year earlier.
Below are exports from Turkey that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Turkey’s goods trail Turkish importer spending on foreign products.
- Mineral fuels including oil: -US$33.9 billion (Down by -12.2% since 2018)
- Electrical machinery, equipment: -$6.3 billion (Down by -20.2%)
- Gems, precious metals: -$6 billion (Up by 11.2%)
- Plastics, plastic articles: -$5.4 billion (Down by -22.3%)
- Machinery including computers: -$5.1 billion (Down by -49%)
- Organic chemicals: -$4.9 billion (Down by -9.1%)
- Iron, steel: -$4.7 billion (Down by -30.8%)
- Pharmaceuticals: -$3.5 billion (Up by 8.4%)
- Optical, technical, medical apparatus: -$3.4 billion (Down by -10%)
- Cereals: -$3.1 billion (Up by 63.3%)
Turkey has highly negative net exports and therefore deep international trade deficits under the mineral fuels including oil category, particularly for processed petroleum oils, coal and petroleum gases.
These cashflow deficiencies clearly indicate Turkey’s competitive disadvantages in the international fossil fuel market, but also represent key opportunities for Turkey to improve its position in the global economy through focused innovations.
Companies
Turkish Export Companies
Based on Forbes Global 2000 rankings, the following companies are examples of leading Turkish companies:
- Koç Group (industrial conglomerate)
- Sabanci Holding (automotive, banking)
- Turkcell (mobile phones)
- Enka (construction services)
- Anadolu Efes (brewery, non-alcoholic drinks)
Global trade intelligence firm Zepol lists the following firms exporting from Turkey:
- Anadolu Dokum San (cast iron/steel articles)
- Cevikler Dis Ticaret (monumental/building stone)
- Evimteks Dis Tic Ve Paz (woven fabrics, facial tissues)
- MCE Cargo (steam condensers, plywood)
- Ulus Metal San Ve Tic (chain sprockets, transmission components, auto parts)
Searchable List of Turkey’s Most Valuable Export Products
In 2019, Turkey’s most valuable exported products were cars, refined petroleum oils, jewelry, trucks and automobile parts or accessories.
The following searchable table displays 100 of the most in-demand goods shipped from Turkey during 2019. Shown beside each product label is its total export value then the percentage increase or decrease since 2018.
| Rank | Turkey's Export Product | 2019 Value (US$) | Change |
|---|---|---|---|
| 1 | Cars | $12,441,971,000 | -4.4% |
| 2 | Processed petroleum oils | $3,726,658,000 | +62.6% |
| 3 | Jewelry | $4,412,230,000 | +15.6% |
| 4 | Trucks | $5,309,800,000 | -8.4% |
| 5 | Automobile parts/accessories | $4,533,407,000 | -3.7% |
| 6 | Women's clothing (not knit or crochet) | $2,744,911,000 | +7.4% |
| 7 | Iron or non-alloy steel bars, rods | $3,363,334,000 | -18.3% |
| 8 | T-shirts, vests (knit or crochet) | $2,798,011,000 | -2.6% |
| 9 | Woven textile floor coverings, carpets | $1,908,491,000 | +11% |
| 10 | Insulated wire/cable | $2,142,588,000 | -3.3% |
| 11 | Public-transport vehicles | $1,792,443,000 | +14.6% |
| 12 | Gold (unwrought) | $2,587,680,000 | -22.7% |
| 13 | Jerseys, pullovers (knit or crochet) | $1,931,887,000 | +2.3% |
| 14 | Refrigerators, freezers | $1,970,368,000 | -3.9% |
| 15 | Hot-rolled iron or non-alloy steel products | $2,395,975,000 | -25.3% |
| 16 | Miscellaneous furniture | $1,488,049,000 | +14.5% |
| 17 | Piston engine parts | $1,621,947,000 | -5.5% |
| 18 | Rubber tires (new) | $1,379,376,000 | +9.2% |
| 19 | Miscellaneous nuts | $1,183,912,000 | +26.7% |
| 20 | Men's suits, trousers (not knit or crochet) | $1,465,894,000 | +0.4% |
| 21 | Tractors | $1,338,240,000 | +1% |
| 22 | TV receivers/monitors/projectors | $1,489,484,000 | -9.9% |
| 23 | Miscellaneous iron and steel structures | $1,213,400,000 | +9.3% |
| 24 | Women's clothing (knit or crochet) | $1,238,186,000 | +0.9% |
| 25 | Linens | $1,195,168,000 | -0.5% |
| 26 | Miscellaneous iron or steel tubes, pipes | $1,266,626,000 | -12.5% |
| 27 | Stockings, hosiery (knit or crochet) | $1,079,665,000 | +1.7% |
| 28 | Plastic plates, sheets, film, tape, strips | $1,096,888,000 | -0.3% |
| 29 | Electric water heaters, hair dryers | $1,047,813,000 | +2.6% |
| 30 | Iron or non-alloy steel angles, shapes, sections | $1,116,506,000 | -4% |
| 31 | Bread, biscuits, cakes, pastries | $1,002,490,000 | +6.9% |
| 32 | Seats (excluding barber/dentist chairs) | $956,004,000 | +10.5% |
| 33 | Wheat or meslin flour | $1,006,290,000 | +4.5% |
| 34 | Washing machines | $1,066,337,000 | -2.9% |
| 35 | Flat-rolled iron or non-alloy steel products (plated/coated) | $1,007,628,000 | +1.1% |
| 36 | Plastic packing goods, lids, caps | $1,009,116,000 | +0.9% |
| 37 | Monument/building stones, art | $942,059,000 | +3.1% |
| 38 | Coiled iron or non-alloy steel bars, rods | $1,030,313,000 | -12.1% |
| 39 | Carbonates, percarbonates | $714,976,000 | +25.3% |
| 40 | Aluminum bars/rods | $824,074,000 | +7.2% |
| 41 | Hydraulic cements | $614,327,000 | +42.7% |
| 42 | Calcerous monumental/building stone, marble | $944,193,000 | -8.5% |
| 43 | Other than warp-knit fabrics | $824,533,000 | +4.2% |
| 44 | Miscellaneous preserved fruits | $725,780,000 | +13.8% |
| 45 | Dishwashing, clean/dry/fill machines | $765,887,000 | +7.8% |
| 46 | Miscellaneous iron or steel items | $857,224,000 | -6.5% |
| 47 | Electrical converters/power units | $736,488,000 | +7.7% |
| 48 | Medication mixes in dosage | $702,055,000 | +12% |
| 49 | Fresh or dried citrus fruit | $889,970,000 | -15.6% |
| 50 | Aircraft parts | $653,369,000 | +12.7% |
| 51 | Synthetic yarn woven fabrics | $804,245,000 | -8.9% |
| 52 | Sanitary towels, baby napkins/liners | $719,236,000 | +0.7% |
| 53 | Synthetic filament yarn | $673,782,000 | +2% |
| 54 | Grapes (fresh or dried) | $611,294,000 | +9.9% |
| 55 | Unglazed ceramic flags, tiles, cubes | $597,710,000 | +11.2% |
| 56 | Aluminum plates, sheets, strips | $637,694,000 | +1.5% |
| 57 | Yarn wash/clean/iron machines | $576,136,000 | +11% |
| 58 | Turbo-jets | $469,958,000 | +36.1% |
| 59 | Taps, valves, similar appliances | $585,201,000 | +7.7% |
| 60 | Trailers | $641,921,000 | -2.2% |
| 61 | Women's shirts (not knit or crochet) | $702,110,000 | -11% |
| 62 | Vulcanized rubber items | $649,958,000 | -5.6% |
| 63 | Pasta, couscous | $552,416,000 | +9.9% |
| 64 | Cruise/cargo ships, barges | $502,345,000 | +20.8% |
| 65 | Plastic tubes, pipes, fittings | $551,232,000 | +9.1% |
| 66 | Coated/laminated non-wovens | $592,641,000 | -0.5% |
| 67 | Poultry meat | $568,511,000 | +0.5% |
| 68 | Liquid pumps and elevators | $542,885,000 | +4.3% |
| 69 | Copper wire | $583,402,000 | -3.5% |
| 70 | Paper containers, cellulose wadding | $523,702,000 | +6.3% |
| 71 | Iron or non-alloy steel products (semi-finished) | $469,534,000 | +17.7% |
| 72 | Chocolate, other cocoa preparations | $504,426,000 | +9.1% |
| 73 | Base metal mountings, fittings | $523,249,000 | +1.7% |
| 74 | Men's shirts (not knit or crochet) | $566,364,000 | -6.3% |
| 75 | Machinery parts | $486,499,000 | +6.8% |
| 76 | Whole fish (fresh) | $472,225,000 | +8.4% |
| 77 | Lower-voltage switches, fuses | $495,419,000 | +2% |
| 78 | Electrical/optical circuit boards, panels | $490,508,000 | +1.6% |
| 79 | Central heating boilers | $527,769,000 | -7.7% |
| 80 | Cigars/cigarellos, cigarettes | $468,843,000 | +0.3% |
| 81 | Sugar confectionery (no cocoa) | $446,308,000 | +5% |
| 82 | Plastic plates, sheets, film, tape, strips | $438,415,000 | +5.2% |
| 83 | Iron/steel central heating radiators | $457,568,000 | -0.01% |
| 84 | Air conditioners | $317,963,000 | +43.6% |
| 85 | Wide knit or crochet fabrics | $469,223,000 | -2.9% |
| 86 | Sort/screen/washing machinery | $409,535,000 | +11.1% |
| 87 | Transmission shafts, gears, clutches | $441,468,000 | +3.1% |
| 88 | Iron and steel screws, bolts, nuts, washers | $470,141,000 | -4% |
| 89 | Sun/safflower/cotton-seed oil | $423,047,000 | +4.7% |
| 90 | Centrifuges, filters and purifiers | $427,660,000 | +3.4% |
| 91 | Polyacetal/ether/carbonates | $439,803,000 | +0.4% |
| 92 | Plastic tableware, kitchenware, toiletry | $437,416,000 | +0.7% |
| 93 | Vulcanized rubber tubes, pipes | $506,306,000 | -13.2% |
| 94 | Knitted or crocheted women's blouses, shirts | $466,495,000 | -6% |
| 95 | Blood fractions (including antisera) | $393,782,000 | +10.1% |
| 96 | Air or vacuum pumps | $433,560,000 | -0.6% |
| 97 | Miscellaneous plastic items | $415,237,000 | +3.3% |
| 98 | Miscellaneous machinery | $383,181,000 | +11.6% |
| 99 | Coal tar oils (high temperature distillation) | $87,645,000 | +380.4% |
| 100 | Woven fabrics (85%+ cotton) | $448,978,000 | -6.9% |
These 100 exported goods were worth a subtotal of US$117.1 billion or 68.4% by value for all products exported from Turkey during 2019.
In macroeconomic terms, Turkey’s total exported goods represent 7.3% of its overall Gross Domestic Product for 2019 ($2.347 trillion valued in Purchasing Power Parity US dollars). That 7.3% for exports to overall GDP per PPP in 2018 matches the 7.3% one year earlier, seeming to indicate a relatively stable reliance on products sold on international markets for Turkey’s total economic performance.
Another key indicator of a country’s economic performance is its unemployment rate. Turkey’s average unemployment rate was 13.831% for 2019, up from 10.955% one year earlier according to the International Monetary Fund.
Turkey’s capital city is Ankara.
See also Top Turkish Trade Balances, Turkey’s Top Trading Partners and Turkey’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on February 4, 2020
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on February 4, 2020
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on February 4, 2020
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 4, 2020
International Trade Centre, Trade Map. Accessed on February 4, 2020
Investopedia, Net Exports Definition. Accessed on February 4, 2020
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on February 4, 2020
Wikipedia, Gross domestic product. Accessed on February 4, 2020
Wikipedia, List of Companies of Turkey. Accessed on February 4, 2020
Wikipedia, Purchasing power parity. Accessed on February 4, 2020
Zepol’s Company summary highlights by country. Accessed on February 4, 2020