The Republic of Türkiye is strategically located at an intersection between Western Asia and Southeastern Europe. The transcontinental nation shares its borders with eight countries: Armenia, Azerbaijan, Bulgaria, Greece, Georgia, Iran, Iraq and Syria.

Türkiye exported US$254.2 billion worth of goods around the world in 2022.

That dollar amount reflects a 51.4% gain compared to $167.9 billion during 2018.

Year over year, the overall value of Turkish exports rose 12.8% from $225.3 billion in 2021.

That figure also represents roughly 1% of overall global exports estimated at $22.144 trillion one year earlier during 2021.

Türkiye’s 5 best customers for buying Turkish exports were Germany, United States of America, Iraq, United Kingdom, and Italy. Collectively, that quintet of leading countries accounts approach a third (30.4%) of overall Turkish export sales in 2022.

Applying a continental lens, 55.1% of Türkiye’s exports by value were delivered to European countries while 25.1% were sold to Asian importers. Türkiye shipped another 9.5% worth of goods to Africa with 7.8% going to North America.

Tinier percentages arrived in Latin America (2%) excluding Mexico but including the Caribbean, or Oceania (0.6%) led by Australia, Marshall Islands and New Zealand.

Türkiye’s Top Trading Partners

Below is a list showcasing 25 of Türkiye’s top trading partners in terms of export sales. These are countries that imported the most Turkish shipments by dollar value during 2022. Also shown is each import country’s percentage of total Turkish exports.

1. Germany: US$21.1 billion (8.3% of total Turkish exports)
2. United States: $16.9 billion (6.6%)
3. Iraq: $13.8 billion (5.4%)
4. United Kingdom: $13 billion (5.1%)
5. Italy: $12.4 billion (4.9%)
6. Spain: $9.7 billion (3.8%)
7. France: $9.5 billion (3.8%)
8. Russia: $9.3 billion (3.7%)
9. Netherlands: $8 billion (3.2%)
10. Israel: $7.03 billion (2.8%)
11. Romania: $6.95 billion (2.7%)
12. Poland: $5.5 billion (2.2%)
13. United Arab Emirates: $5.4 billion (2.1%)
14. Belgium: $4.8 billion (1.9%)
15. Bulgaria: $4.7 billion (1.9%)
16. Egypt: $4.6 billion (1.8%)
17. Greece: $3.3 billion (1.3%)
18. China: $3.28 billion (1.3%)
19. Ukraine: $3.2 billion (1.3%)
20. Morocco: $3.1 billion (1.2%)
21. Iran: $3.1 billion (1.2%)
22. Libya: $2.8 billion (1.1%)
23. Lebanon: $2.7 billion (1.1%)
24. Azerbaijan: $2.5 billion (1%)
25. Serbia: $2.4 billion (1%)

Over two-thirds (70.5%) of Turkish exports in 2022 were delivered to the above 25 trade partners.

Among the above countries, the fastest-growing importers of products from Türkiye were Russia (up 61.8% from 2021), Lebanon (up 58%), Romania (up 34.3%), Iraq (up 23.5%), Serbia (up 20%), Bulgaria (up 19.4%), Netherlands (up 18.6%), Poland (up 17.6%), then the United States of America (up 14.7%).

The severest declines belong to mainland China (down -10.4% from 2021) and the United Kingdom (down -5.1%).

Countries Causing the Greatest Trade Deficits for Türkiye

Türkiye incurred an overall -$46.1 billion deficit on all products for 2022. That amount is a -7.5% decrease from the -$48.6 billion in red ink one year earlier during 2021.

As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.

It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.

Türkiye incurred the highest trade deficits with the following countries.

1. Russia: -US$49.5 billion (country-specific trade deficit in 2022)
2. mainland China: -$38.1 billion
3. Switzerland: -$14 billion
4. India: -$9.1 billion
5. South Korea: -$8 billion
6. Japan: -$4 billion
7. Brazil: -$3.83 billion
8. Malaysia: -$3.81 billion
9. Saudi Arabia: -$3.1 billion
10. Germany: -$2.9 billion

Among Türkiye’s trading partners that cause the greatest negative trade balances, Turkish deficits with Switzerland (up 678.6%), Russia (up 113.6%) and Malaysia (up 43.6%) grew at the fastest pace from 2021 to 2022.

These cashflow deficiencies clearly indicate Türkiye’s competitive disadvantages with the above countries, but also represent key opportunities for Türkiye to develop country-specific strategies to strengthen its overall position in international trade.

Countries Generating the Biggest Trade Surpluses for Türkiye

Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.

Türkiye incurred the highest trade surpluses with the following countries.

1. Iraq: US$12.3 billion (country-specific trade surplus in 2022)
2. United Kingdom: $7.1 billion
3. Israel: $4.6 billion
4. Romania: $3.6 billion
5. Netherlands: $3.5 billion
6. Spain: $2.6 billion
7. Lebanon: $2.6 billion
8. Morocco: $2.1 billion
9. Libya: $2.1 billion
10. Bulgaria: $2 billion

Among Türkiye’s trading partners that generate the greatest positive trade balances, Turkish surpluses with Romania (up 107.5%), Lebanon (up 56.4%) and the Netherlands (up 56.2%) grew at the fastest pace from 2021 to 2022.

These positive cashflow streams clearly indicate Türkiye’s competitive advantages with the above countries, but also represent key opportunities for Türkiye to develop country-specific strategies to optimize its overall position in international trade.

Türkiye’s Major Companies Servicing Turkish Trading Partners

Based on Forbes Global 2000 rankings, the following companies are examples of leading Turkish companies.

• Anadolu Efes (brewery, non-alcoholic drinks)
• Enka (construction services)
• Koç Group (industrial conglomerate)
• Sabanci Holding (automotive, banking)
• Turkcell (mobile phones)

Global trade intelligence firm Zepol lists the following firms exporting from Türkiye.

• 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)

 

See also Top Turkish Trade Balances, Türkiye’s Top 10 Exports and Türkiye’s Top 10 Imports

Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on April 2, 2023

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 2, 2023

International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average)

. Accessed on April 2, 2023

International Trade Centre, Trade Map. Accessed on April 2, 2023

Investopedia, Net Exports Definition. Accessed on April 2, 2023

Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on April 2, 2023

Zepol’s company summary highlights by country. Accessed on April 2, 2023