US Goods Exports to Turkey
Turkey is the 28th largest export economy in the world and the 59th most complex economy according to the Economic Complexity Index (ECI). In 2015, Turkey exported $153B and imported $187B, resulting in a negative trade balance of $34.1B. In 2015 the GDP of Turkey was $717B and its GDP per capita was $20k, according to the United States Trade Representative (USTR).
Turkey’s trade with the United States has been growing. Turkey was the United States’ 26th largest goods export market in 2013. US goods exports to Turkey in 2013 were $12.1 billion, down 3.6% ($454 million) from 2012, but up 316% from 2003. The top five U.S. exports to Turkey, by value through May were the categories of Civilian aircraft, parts; Cotton; Scrap iron, steel; Coal, briquettes; and Petroleum gases, other gaseous hydrocarbons, respectively. They accounted for 43.34 percent of total exports to Turkey.
The top U.S. exports to Turkey are: Mineral Fuel (oil) ($2.0 billion), Iron and Steel ($1.9 billion), Aircraft ($1.3 billion), Machinery ($1.0 billion), and Cotton Yarn and Fabric ($801 million). U.S. exports of agricultural products to Turkey totaled $2.1 billion in 2013, the 11th largest U.S. Ag export market. Leading categories include: cotton ($797 million), tree nuts ($282 million), soybean meal ($215 million), and soybeans ($156 million).
Our mission at Mylo Trade, is to build and support long-term business partnerships between U.S. and Turkish firms, connect Turkish importers with the best U.S. suppliers as well as U.S. companies who would like to import from Turkey. Please contact us, for more information about our services and tools to help U.S. companies find trade partners in Turkey.