Although Turkey has had great success in export over the years the same cannot be said about its import operations. As a result of its imports growing far greater than exports Turkey’s budget deficit constantly increases.
Import Goods of Turkey
Turkey’s most imported goods are petrol and natural gas from Russia and Iran. This product is of vital value for agriculture, transportation and industrial purposes.
Right after natural gas and petrol comes automobile and spare parts imports. Turkey especially imports these goods from Germany, France and Italy. However, it should be mentioned that the automotive and spare parts sector is one of the sectors with the least amount of foreign trade deficit. This is because of the partnerships that foreign automakers have developed with local investors.
Electronic appliances, mainly medical appliances and communication devices are Turkey’s come in third at Turkey’s most imported goods. China, Germany, USA and France are the countries that Turkey mostly imports these goods from.
Export Products of Turkey
Turkey’s largest sector exports has been the automotive and spare parts industry for the last 12 years. With the establishment of the factories by companies like Mercedes Benz, Ford, Tofaş and Oyak-Renault have allowed Turkey’s exports in this field to reach great numbers.
Off the shelf clothing and textile goods come in second place when comes to exports. Investments made in the industry dating back to the 1980’s have a major part in this success.
Brands like Arçelik, Beko, Vestel, Demirdöküm, Profilo, Indesit, Ariston’s exports made especially to the European markets has enabled the domestic appliances sector to come in third place in exports.