Turkey's Top Imports & Exports 2008

Top Turkish Exports Are Steel Products, Cotton Wear and Jewelry

Sep 30, 2009 Daniel Workman

While U.S. exports of rice to Turkey surged 6,626% in 2008, Turkish exporters show competitive advantages in cotton apparel, household goods and iron and steel products.

Generating a Gross Domestic Product (GDP) valued at US$729.4 billion, Turkey was the world’s 17th richest country in 2008.

With a population of 76.8 million Turks who enjoyed an average GDP of $12,000 per person last year, Turkey finished 91st among other nations in terms of GDP per capita.

As the world’s 31st biggest exporter, Turkey shipped $140.8 billion worth of exports in 2008. Principal Turkish exports were apparel, foodstuffs, metal manufactures, textiles and transport equipment. Based on 2008 statistics, Turkey’s largest export clients were Germany (9.8%), the United Kingdom (6.2%), the United Arab Emirates (6%), Italy (5.9%), France (5%) and Russia (4.9%).

According to the CIA World Factbook, Turkey imported $193.9 billion worth of foreign goods last year. Major commodities imported into Turkey include chemicals, fuels, machinery and semi-finished goods. Leading suppliers to Turkey were Russia (15.5%), Germany (9.3%), China (7.8%), the United States (5.9%), Italy (5.5%), France (4.5%) and Iran (4.1%).

In total, Turkey’s international trade amounted to $334.7 billion or 45.9% of its overall GDP. This compares with roughly 25% for the U.S. and 60% for Canada.

Turkish Trade with the U.S.

Last year, Turkish exports to America rose 0.9% to $4.6 billion. Over that same period, Turkey bought $10 billion worth of U.S. imports – an increase of 53.2%.

Therefore, Turkey’s trade deficit with the U.S. came to $5.4 billion in 2008.

The lists below present the top 10 exports and imports that American and Turkish enterprises exchanged in 2008. The fastest-growing trade product categories are also shown.

Turkey’s Top Exports to America

Among leading Turkish exports shipped to the U.S. in 2008, 6 product categories showed double-digit percentage decreases from last year. Turkey’s second-leading export, cotton wear and cotton household items, experienced a sales decrease of almost one third.

Semi-finished iron and steel mill products … US$592.3 million, up 119.8% from 2007 (12.8% of US imports from Turkey)
Cotton apparel and household goods … $414.8 million, down 29.6% (8.9%)
Cement, lime, sand, stone … $357.5 million, down 21% (7.7%)
Other petroleum products … $213.4 million, down 15.4% (4.6%)
Jewelry … $206.3 million, down 42.4% (4.4%)
Non-cotton apparel and household goods … $175.1 million, down 17.2% (3.8%)
Synthetic cloth, fabrics and thread … $149.7 million, up 0.2% (3.2%)
Finished metal shapes excluding steel … $128.9 million, down 11.9% (2.8%)
Oilfield and drilling equipment … $123.2 million, up 1,088.5% (2.7%)
Civilian aircraft engines … $122.3 million, up 13.4% (2.6%).

Fastest-Growing Turkish Exports to the U.S.

The first 2 export product categories below had formidable gains of over 1,000% in 2008. The other 8 export product categories garnered respectable but more modest percentage gains from 2007.

Movies, miscellaneous goods and special transactions … US$148.1 million, up 1,268% from 2007
Oilfield and drilling equipment … $123.2 million, up 1,088.5%
Semi-finished iron and steel mill products … $592.3 million, up 119.8%
Agricultural machinery and equipment … $113.9 million, up 99.8%
Iron and steel products … $62.4 million, up 82.1%
Household and kitchen appliances … $47.1 million, up 71.2%
Soft beverages, processed coffee … $23.1 million, up 55.4%
Bakery and confectionary products … $22.5 million, up 53.5%
Pharmaceutical preparations … $34.7 million, up 38.8%
Fuel oil … $98.2 million, up 34.5%.

Turkey’s Top Imports from America

Among leading US exports to Turkey, 7 product categories showed percentage gains of at least 43.2%. Only American imports of raw cotton, organic chemicals and plastics had lower sales in 2008 from the prior year.

Steel making materials … US$2 billion, up 121.7% from 2007 (20.2% of US exports to Turkey)
Civilian aircraft … $1 billion, up 153.9% (10.4%)
Fuel oil … $814.9 million, up 1,590% (8.2%)
Raw cotton … $536.5 million, down 30.1% (5.4%)
Metallurgical grade coal … $382.5 million, up 202.2% (3.8%)
Parts for military-type goods … $337.9 million, up 43.2% (3.4%)
Organic chemicals … $259 million, down 15.4% (2.6%)
Plastic materials … $231.3 million, down 25.2% (2.3%)
Soybeans … $214.1 million, up 60.1% (2.15%)
Unmanufactured agricultural industry goods … $210.8 million, up 87.5% (2.12%).

Fastest-Growing Turkish Imports from the U.S.

American exports of rice, non-metallurgical grade coal and fuel oil posted gains well in excess of 1,000% in 2008.

Rice … US$75.5 million, up 6,626% from 2007
Non-metallurgical grade coal and other fuels … $16.6 million, up 4,058%
Fuel oil … $814.9 million, up 1,590%
Vegetables … $11.4 million, up 710.6%
Marine engines … $67.2 million, up 196.8%
Fish and shellfish … $9.6 million, up 618.6%
Buses, trucks and special purpose vehicles … $49.5 million, up 565.3%
Dairy products and eggs … $10.6 million, up 302%
Iron and steel mill products … $17.5 million, up 257.8%
Metallurgical grade coal … $382.5 million, up 202.2%.

During 2008, Turkey exported $414.8 million worth of cotton apparel and household goods to the U.S. while importing $536.5 million worth of raw cotton from America. The U.S. exported only $10.7 million worth of cotton apparel and household goods to Turkey, while Turkey exported no raw cotton to America.

These statistics verify that the U.S. has an unmatched competitive advantage in providing raw cotton exports while Turkey has a comparative advantage in supplying cotton apparel and household goods.

Similarly, Turkey shipped $592.3 million worth of semi-finished iron and steel mill products to the U.S. while America exported only $17.5 million in all categories of iron and steel products to Turkey. The U.S. did supply $2 billion worth of steel making materials to Turkey in contrast to Turkey’s total shipments of $995,000 in steel making materials to America.

Clearly, Turkey has a comparative advantage in producing semi-finished iron and steel mill products over the U.S. On the other hand, America has a counterbalancing comparative advantage as a source of steel making materials for Turkey.

Sources

This analysis is based on latest statistics from the US Census Bureau- Foreign Trade Statistics and CIA World Factbook as of the date of article publication.

The copyright of the article Turkey's Top Imports & Exports 2008 in International Trade is owned by Daniel Workman. Permission to republish Turkey's Top Imports & Exports 2008 in print or online must be granted by the author in writing.

US Exports of Rice to Turkey Up 6,626%	US Exports of Civilian Aircraft to Turkey Up 154%	US Exports of Cotton to Turkey Hit $536.5 Million
Turkish Exports Cotton Clothing to US Fall in 2008	Turkish Exports of Kitchen Refrigerators Boom