U.S. Exports to Turkey
Since 2009, the U.S. and Turkish governments have placed increased emphasis on growing two-way trade and investment. U.S.-Turkish trade peaked at nearly $20 billion in 2011, In 2014, U.S. exports to Turkey reached $11.6 billion and U.S. imports from Turkey totaled $7.4 billion. The total U.S.-Turkey trade remained at $19.billion, according to the U.S. Census Bureau.
The United States is a principal supplier of raw materials for Turkey’s expanding role as a highvalue exporter and regional trade hub. Turkey was the 11th-largest export market for U.S. agricultural products in calendar year 2011. U.S. exports to Turkey include aircraft, iron and steel, agricultural goods, oil, cotton, soybeans, soybean meal, tree nuts and fabric, and machinery. U.S. imports from Turkey include vehicles, machinery, iron and steel and their products, agricultural goods, travertine, and marble. Reported U.S. direct investment in Turkey is led by the banking and manufacturing sectors.
The United States is Turkey’s second-largest supplier of agricultural products after the European Union. U.S. market share was 18 percent in 2011. The United States is a net exporter of agricultural products to Turkey, shipping $2.5 billion in 2011. Most major exports to Turkey, including cotton, soybeans, wheat, live animals and tree nuts, undergo further processing before reaching consumers. Turkey is the second-largest market for U.S. cotton exports after China, with U.S. shipments reaching $1.2 billion in 2011. Turkey is also the largest market for U.S. exports of live animals, importing $209 million in 2011.
We at Mylo Trade support long-term business partnerships between U.S. and Turkish firms. We’re also here to connect Turkish importers with the best U.S. suppliers. To learn more about how to grow your U.S. export business in Turkey, send us an email.