Turkey is full of natural resources, thus making it an emerging trader in the current world. Apart from Iran, Turkey is the only Middle Eastern country that has coal mines. This makes Turkey a nation with a high potential for trading.
Also, small-scale production of oil is done in the southern-eastern part of the country. Turkey also has a great amount of iron as they are one of the biggest steel producers in the world and this makes investors fascinated to invest in Turkey.
A Peek into The Industries of Turkey and Its Trading
The performance of trending and exporting in Turkey has been strong with more production companies, better structure, and improved facilities. The export has increased to over $150 billion in 2012 as compared to 2002.
Export grew 15% a year on an average making Turkey one-stop for trading. Turkish exporters were trading and exporting their things to only 90 countries but since the past decade they have broadened their market reach and now they export to more than 137 countries.
This makes Turkey the next hub of trading and investors will be keen to invest in Turkey and start their trading to earn money and make a profitable business. The agriculture industry also boosts its trade off prospects.
Most of its domestic needs are met by its own steel industries as Turkey has one of the largest steel production plants in the Middle East. The other significant business that affects trading in Turkey is the textile business as cotton is one of the main crops of agricultural business there.
Will Turkey Be a Big Power in Trading Sector in the Near Future?
In 2002, all the products were sold at a basic unit price but by the end of the decade, the products have been sold for mid or high range prices in the international market. This shows the growth of trading in the country.
Turkey is planning to become one of the top ten largest economies by the end of the year 2023 with a target of raising GDP to $25,000 and export to $500 billion.
The industries and agriculture industries are helping the economy of Turkey greatly and that will help them to raise their trading and economy to a better level and include themselves in one of the fastest developing economies of the world.