Türkiye exported US$255.8 billion worth of products around the world in 2023.
That dollar amount results from a 41.4% expansion compared to $180.9 billion five years earlier during 2019.
Year over year, the total value of Turkish exports slowed to a 0.6% increase from $254.2 billion in 2022.
Türkiye’s five most valuable customers for buying Turkish exports were Germany, United States of America, Iraq, United Kingdom, and Italy. Collectively, that quintet of leading countries accounts exceed one-quarter (28.8%) of overall Turkish export sales in 2023.
Applying a continental lens, 56.8% of Türkiye’s exports by value was delivered to European countries while 25.6% was sold to Asian importers. Türkiye shipped another 8.4% worth of goods to buyers in Africa.
Lesser percentages arrived in North America (7%), Latin America (1.6%) excluding Mexico but including the Caribbean, then Oceania (0.6%) led by Australia, Marshall Islands and New Zealand.
Türkiye’s Top Trading Partners
Below is a list showcasing 25 of Türkiye’s top trading partners in terms of export sales. These are countries that imported the most Turkish shipments by dollar value during 2023. Also shown is each import country’s percentage of total Turkish exports.
- Germany: US$21.1 billion (8.2% of total Turkish exports)
- United States: $14.8 billion (5.8%)
- Iraq: $12.8 billion (5%)
- United Kingdom: $12.5 billion (4.9%)
- Italy: $12.4 billion (4.8%)
- Russia: $10.9 billion (4.3%)
- France: $10.3 billion (4%)
- Spain: $9.8 billion (3.8%)
- United Arab Emirates: $8.6 billion (3.4%)
- Netherlands: $7.9 billion (3.1%)
- Romania: $7 billion (2.7%)
- Poland: $6 billion (2.3%)
- Israel: $5.4 billion (2.1%)
- Belgium: $4.4 billion (1.7%)
- Bulgaria: $4.24 billion (1.7%)
- Greece: $4.17 billion (1.6%)
- Ukraine: $3.45 billion (1.3%)
- Egypt: $3.34 billion (1.3%)
- Iran: $3.31 billion (1.3%)
- mainland China: $3.31 billion (1.3%)
- Libya: $3.26 billion (1.3%)
- Morocco: $3.1 billion (1.2%)
- Kazakhstan: $3 billion (1.2%)
- Azerbaijan: $2.8 billion (1.1%)
- Algeria: $2.7 billion (1.1%)
Well over two-thirds (70.5%) of Turkish exports in 2023 was delivered to the above 25 trade partners.
Among the above countries, the fastest-growing importers of products from Türkiye were Kazakhstan (up 84.8% from 2022), United Arab Emirates (up 58.6%), Algeria (up 31.2%), Greece (up 26.4%), then the Russian Federation (up 16.9%).
The lone year-over-year decline belonged to top importers in Uzbekistan (down -0.3% from 2022).
Countries Causing the Greatest Trade Deficits for Türkiye
Türkiye incurred an overall -US$106 billion trade deficit on all products for 2023. That amount is a -3.2% decrease from the -$109.5 billion in red ink one year earlier during 2022.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Türkiye incurred the highest trade deficits with the following countries.
- mainland China: -US$41.7 billion (country-specific trade deficit in 2023)
- Russia: -$34.7 billion
- Switzerland: -$17.6 billion
- South Korea: -$8.4 billion
- Germany: -$7.6 billion
- India: -$6.3 billion
- Japan: -$4.8 billion
- Malaysia: -$3.6 billion
- Brazil: -$3.3 billion
- United Arab Emirates: -$2.9 billion
Among Türkiye’s trading partners that cause the greatest negative trade balances, Turkish deficits with Germany (up 162.9%), Switzerland (up 25.6%) and Japan (up 21.2%) grew at the fastest pace from 2022 to 2023.
In addition, Türkiye went from generating a $946.2 million surplus trading with the United Arab Emirates to recording the -$2.9 billion trade deficit listed above.
These cashflow deficiencies clearly indicate Türkiye’s competitive disadvantages with the above countries, but also represent key opportunities for Türkiye to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating the Biggest Trade Surpluses for Türkiye
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Türkiye incurred the highest trade surpluses with the following countries.
- Iraq: US$11.3 billion (country-specific trade surplus in 2023)
- United Kingdom: $5.9 billion
- Israel: $3.8 billion
- Netherlands: $3.5 billion
- Romania: $3.3 billion
- Libya: $2.7 billion
- Greece: $2.5 billion
- Cyprus: $2.3 billion
- Georgia: $1.84 billion
- Bulgaria: $1.83 billion
Among Türkiye’s trading partners that generate the greatest positive trade balances, Turkish surpluses with Greece (up 128%), Libya (up 31.3%) and Georgia (up 20.1%) grew at the fastest pace from 2022 to 2023.
These positive cashflow streams clearly indicate Türkiye’s competitive advantages with the above countries, but also represent key opportunities for Türkiye to develop country-specific strategies to optimize its overall position in international trade.
Türkiye’s Major Companies Servicing Turkish Trading Partners
Based on Forbes Global 2000 rankings, the following companies are examples of leading Turkish companies.
- Anadolu Efes (brewery, non-alcoholic drinks)
- Enka (construction services)
- Koç Group (industrial conglomerate)
- Sabanci Holding (automotive, banking)
- Turkcell (mobile phones)
Global trade intelligence firm Zepol lists the following firms exporting from Türkiye.
- Anadolu Dokum San (cast iron/steel articles)
- Cevikler Dis Ticaret (monumental/building stone)
- Evimteks Dis Tic Ve Paz (woven fabrics, facial tissues)
- MCE Cargo (steam condensers, plywood)
- Ulus Metal San Ve Tic (chain sprockets, transmission components, auto parts)
See also Top Turkish Trade Balances, Türkiye’s Top 10 Exports and Türkiye’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on March 31, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 31, 2024
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on March 31, 2024
International Trade Centre, Trade Map. Accessed on March 31, 2024
Investopedia, Net Exports Definition. Accessed on March 31, 2024
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 31, 2024
Zepol’s company summary highlights by country. Accessed on March 31, 2024