Economy of Turkey
| Statistics | |
|---|---|
| Main industries | machinery tourism textile electronics construction shipbuilding autos mining steel iron copper boron defence petroleum food processing cotton |
| Ease-of-doing-business rank | 33rd (very easy, 2020) |
| External | |
| Exports | $166.9 billion (26th) (2020) |
Contents
What is the major product of Turkey?
Turkey is a major producer of wheat, sugar beets, milk, poultry, cotton, tomatoes, and other fruits and vegetables, and is the top producer in the world for apricots and hazelnuts.
What is Turkey’s main export?
Turkey’s biggest export products by value in 2020 were cars, automotive parts or accessories, trucks, refined petroleum oils and jewelry. In aggregate, those major exports account for 15% of overall exports sales from Turkey. That percentage suggests a relatively diversified range of exported goods.
What are Turkish products?
Leading 20 export commodities of Turkey in 2020, by export value (in billion U.S. dollars)
| Characteristic | Export value in billion U.S. dollars |
|---|---|
| Precious stones, precious metals, pearls and articles thereof | 6.58 |
| Plastic and articles thereof | 6.5 |
| Non knitted and crocheted goods and articles thereof | 6.27 |
What is Turkey main source of income?
Turkey’s largely free-market and diversified economy is driven by its industrial and service sectors, but traditional agriculture still accounts for about 25 percent of employment.
What is Turkey famous for?
Famous Things in Turkey
- 1: Istanbul: Most Famous City in Turkey.
- 2: Hot Air Balloon Rides in Cappadocia.
- 3: Traditional Gulet Boat and Sailing.
- 4: Ephesus Ancient City.
- 5: Pamukkale and Hierapolis in Turkey.
- 6: The Famous Lycian Way Tombs.
- 7: Turkish Cuisine and Beverages.
- 8: The Tulip.
What are Turkish imports?
Turkey’s Top 10 Imports
- Mineral fuels including oil: US$28.9 billion (13.2% of total imports)
- Gems, precious metals: $26.6 billion (12.1%)
- Machinery including computers: $25.2 billion (11.5%)
- Electrical machinery, equipment: $17.1 billion (7.8%)
- Vehicles: $15.3 billion (7%)
- Iron, steel: $15.1 billion (6.9%)
What products does Turkey import?
Turkey’s top five import categories include Stone & Glass, Textiles, Machinery & Electronics, Metals, and Mineral Products. Together, these goods make up 62% of what the U.S. imports from Turkey.
What are the main exports and imports of Turkey?
Origins In June 2021 the exports of Turkey were mainly from Ýstanbul ($9.27B), Ýzmir ($1.17B), Kocaeli ($1.1B), Bursa ($972M), and Gaziantep ($884M), while imports destinations were mainly Ýstanbul ($11B), Gizli Veri ($2.22B), Ankara ($1.7B), Kocaeli ($1.19B), and Ýzmir ($858M).
What Pakistan exports to Turkey?
| Pakistan Exports to Turkey | Value | Year |
|---|---|---|
| Cotton | $141.58M | 2020 |
| Electrical, electronic equipment | $92.55M | 2020 |
| Other made textile articles, sets, worn clothing | $20.40M | 2020 |
| Manmade staple fibers | $11.88M | 2020 |
What does Turkey export to India?
Main Export Items: Precious stones, pearls, mineral oils, land vehicles, machines, nuclear reactors, organic chemicals, pharmacy. Main Import Items: Crude oil, precious stones, pearls, electronic machines, nuclear reactors, organic chemicals. Main Export Items to India: Gold, marble, oil seeds, raw metals.
What Pakistan imports from Turkey?
- All Products. 205,233.77. 100.00.
- Intermediate goods. 84,849.37. 41.34.
- Capital goods. 63,555.02. 30.97.
- Mach and Elec. 56,712.24. 27.63.
- Consumer goods. 51,165.17. 24.93.
- Chemicals. 32,371.93. 15.77.
- Textiles and Clothing. 28,664.50. 13.97.
- Metals. 21,368.78. 10.41.
What is manufactured in Turkey?
The top ten exports include vehicles, machinery (including computer components), gems and precious metals, knits and clothing, iron and steel, electrical machinery and other equipment, non-knit clothes and accessories, articles made of iron or steel, plastics, and related products, and mineral fuels including oil.
Is Turkey rich in oil?
Oil Reserves in Turkey
Turkey holds 312,000,000 barrels of proven oil reserves as of 2016, ranking 53rd in the world and accounting for about 0.0% of the world’s total oil reserves of 1,650,585,140,000 barrels.
Is Turkey a rich or poor country?
Turkey is far from poor but it isn’t especially rich. The country is classified an emerging market economy with a GDP per capita of around $11,000 (£7,700), which is more or less the global average but lower than the majority of European countries.
Why is Turkey so poor?
Since 1980, Turkey has lost the characteristics of an agricultural country. Unemployment, seasonal work, and low wages have caused poverty to shift from rural to urban areas and inadequate industrialization caused poverty to intensify in urban areas. However, poverty is still very severe in rural areas.
What did Turkey invent?
The history of inventions in Turkey goes from Turkish coffee, Turkish baths, military marching bands, vaccinations to the world’s first Christian church and the famous Lion’s milk: rakı. However, the Turks hold many more inventions you might not know about!
What is Turkey’s biggest import?
Turkey’s Top Imports
- Refined petroleum – $12.4 billion.
- Gold – $11.3 billion.
- Scrap iron – $6.47 billion.
- Petroleum gas – $3.72 billion.
- Coal briquettes – $3.53 billion.
What cars are made in Turkey?
Other global automotive manufacturers such as Toyota, Honda, Opel, Hyundai, Mercedes-Benz and MAN Truck & Bus produce automobiles, vans, buses and trucks in their Turkish factories. There are also a number of Turkish bus and truck brands, such as BMC, Otokar and TEMSA.
Who is Turkey’s biggest trading partner?
Turkey’s Top Trading Partners
- Germany: US$16 billion (9.4% of total Turkish exports)
- United Kingdom: $11.2 billion (6.6%)
- United States: $10.2 billion (6%)
- Iraq: $9.1 billion (5.4%)
- Italy: $8.1 billion (4.8%)
- France: $7.2 billion (4.2%)
- Spain: $6.7 billion (3.9%)
- Netherlands: $5.2 billion (3.1%)
What does Turkey Export to UK?
Main Turkish exports to United Kingdom are gold, made-up textile articles, garments, electrical and non-electrical machinery, motor vehicles and parts, iron and steel products, insulated wires, cables and other electric conductors.
