Year over year, the overall cost of goods imported into Türkiye flatlined via -0.5% from $363.7 billion for 2022.
Based on the average exchange rate for 2023, the Turkish lira depreciated by -319.7% against the US dollar since 2019 and fell by -43.9% from 2022 to 2023. Türkiye’s weaker local currency makes Turkish imports paid for in stronger US dollars relatively more expensive when converted starting from the Turkish lira.
Domestically, Türkiye’s inflation rate specific to average consumer prices increased by 51.2% in 2023 down from the 72.3% inflation rate for 2022.
Among Türkiye’s costliest import products are unwrought gold, processed petroleum oils, cars, iron or steel scrap, and automobile parts or accessories. Collectively, that quintet of leading imports represents almost one-quarter (23.1%) of Turkish import spending in 2023.
Türkiye’s Best Suppliers for Imports
The latest available country-specific data shows that 62.6% of products exported from Türkiye was furnished by exporters in: Russia (12.6% of the Turkish total), mainland China (12.4%), Germany (7.9%), Switzerland (5.5%), United States of America (4.4%), Italy (4.1%), France (3.19%), United Arab Emirates (also 3.19%), Spain (2.62%), South Korea (also 2.62%), India (2.2%) and United Kingdom (1.8%).
Applying a continental lens, over half (54.7%) of Türkiye’s total imports by value in 2023 were purchased from fellow European countries. Asian trade partners supplied about a third (34.3%) of import sales to Türkiye while another 5.4% worth of goods originated from North America.
Smaller percentages came from suppliers in Africa (3.1%), Latin America (2.2%) excluding Mexico but including the Caribbean, then Oceania (0.4%) led by Australia.
Given Türkiye’s population of 86.3 million in 2023, and the total $361.8 billion in import purchases, the per capita value of Turkish imports was about $4,200. That dollar amount mirrors the average $4,200 one year earlier in 2022.
Türkiye’s Top 10 Imports
The following product groups represent the highest dollar value in Türkiye’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Türkiye.
- Mineral fuels including oil: US$69.1 billion (19.1% of total imports)
- Machinery including computers: $40.9 billion (11.3%)
- Gems, precious metals: $33.9 billion (9.4%)
- Vehicles: $32.3 billion (8.9%)
- Electrical machinery, equipment: $27.8 billion (7.7%)
- Iron, steel: $24.2 billion (6.7%)
- Plastics, plastic articles: $16.2 billion (4.5%)
- Organic chemicals: $9.2 billion (2.5%)
- Optical, technical, medical apparatus: $6.5 billion (1.8%)
- Aluminum: $6.3 billion (1.7%)
Türkiye’s top 10 imports approached three-quarters (73.6%) of the overall value of its product purchases from other countries.
Leading the gainers for Türkiye’s imported products from 2022 to 2023 was the vehicles product category (up 82.5%).
In second place were imported gems and precious metals (up 44.6%), then electrical machinery and equipment (up 29.2%) and optical, technical and medical apparatus (up 23%).
The severest year-over-year decrease was for Turkish imports of minerals including oil, pulled down by a -28.4% retreat.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the sections below is at the more granular 4-digit level.
Türkiye’s Main Imports of Mineral Fuels
In 2023, Turkish importers spent the most on the following 10 subcategories of fossil fuel-related products.
- Processed petroleum oils: US$20.5 billion (up 9.7% from 2022)
- Coal, solid fuels made from coal: $5.5 billion (down -32.3%)
- Petroleum gases: $2.2 billion (down -9.1%)
- Petroleum oil residues: $786.5 million (down -29.1%)
- Electrical energy: $582.2 million (up 22.2%)
- Coke, semi-coke: $289.3 million (down -53.7%)
- Coal tar oils (high temperature distillation): $115.2 million (up 9.5%)
- Petroleum jelly, mineral waxes: $75.4 million (down -24.6%)
- Peat: $22.3 million (up 3.7%)
- Tar pitch, coke: $11.9 million (up 32.3%)
Among these import subcategories, Turkish purchases of tar pitch and coke (up 32.3%), electrical energy (up 22.2%), then processed petroleum oils (up 9.7%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of fossil fuel-related imports among Turkish businesses and consumers.
Türkiye’s Main Imports of Machinery Products
In 2023, Turkish importers spent the most on the following 10 subcategories of machines including computers.
- Computers, optical readers: US$3.5 billion (up 15.2% from 2022)
- Engines (diesel): $3.2 billion (up 12.7%)
- Centrifuges, filters and purifiers: $1.9 billion (up 5.2%)
- Taps, valves, similar appliances: $1.87 billion (up 21.3%)
- Miscellaneous machinery: $1.71 billion (up 16.4%)
- Heavy machinery (bulldozers, excavators, road rollers): $1.69 billion (up 88.8%)
- Piston engines: $1.68 billion (up 28.9%)
- Air or vacuum pumps: $1.57 billion (up 8.2%)
- Liquid pumps and elevators: $1.52 billion (up 22.6%)
- Transmission shafts, gears, clutches: $1.3 billion (up 21.7%)
Among these import subcategories, Turkish purchases of heavy machinery such as bulldozers, excavators and road rollers (up 88.8%), piston engines (up 28.9%), then liquid pumps and elevators (up 22.6%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of machinery-related imports among Turkish businesses and consumers.
Türkiye’s Main Imports of Gems and Precious Metals
In 2023, Turkish importers spent the most on the following 10 subcategories of gems and precious metals.
- Gold (unwrought): US$30 billion (up 46.9% from 2022)
- Jewelry: $2.4 billion (up 104.8%)
- Silver (unwrought): $1.2 billion (down -22.2%)
- Diamonds (unmounted/unset): $149.6 million (down -18.9%)
- Imitation jewelry: $68.6 million (up 36.4%)
- Goldsmith/silversmith wares: $16.1 million (up 7.7%)
- Other precious metal items: $12.6 million (up 5.1%)
- Natural pearl/precious stone items: $9.9 million (up 21%)
- Platinum (unwrought): $9.7 million (up 2.2%)
- Precious stone dust, powder: $6.4 million (down -25.8%)
Among these import subcategories, Turkish purchases of jewelry (up 104.8%), unwrought gold (up 46.9%), then imitation jewelry (up 36.4%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported gems and precious metals among Turkish businesses and consumers.
Türkiye’s Main Imports of Vehicles
In 2023, Turkish importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$18.2 billion (up 127.9% from 2022)
- Automobile parts/accessories: $7.2 billion (up 17.2%)
- Trucks: $2.7 billion (up 121.5%)
- Tractors: $2.2 billion (up 101.5%)
- Motorcycles: $684.1 million (up 135.3%)
- Trailers: $535.6 million (up 27.7%)
- Motorcycle parts/accessories: $325.3 million (up 5.1%)
- Special purpose vehicles: $144.5 million (up 119.9%)
- Public-transport vehicles: $105.6 million (up 148.8%)
- Baby carriages: $28.6 million (up 48.1%)
Among these import subcategories, Turkish purchases of public-transport vehicles (up 148.8%), motorcycles (up 135.3%) then cars (up 127.9%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Turkish businesses and consumers.
See also Top Turkish Trade Balances, Türkiye’s Top 10 Exports and Türkiye’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on April 22, 2024
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on April 22, 2024
International Trade Centre, Trade Map. Accessed on April 22, 2024