What do Turkey’s exports tell us in 2022
Despite crises ravaging the world, such as the coronavirus pandemic, international tensions, and rising energy and food prices, Turkey’s exports in 2022 hit record numbers. However, Turkey stresses that this achievement is only a first step towards achieving Turkey’s future goals.
What do Turkey’s 2022 experts tell us? Who are the most export-dependent countries from Turkey? What about the possibility of investing in Turkey’s most important exports?
Turkey Export Figures 2022
Turkey’s exports in 2022 amounted to $254.2 billion. This has set a new figure in Turkey’s foreign trade history.
Turkey’s 2022 exports increased by 12.9% compared to Turkey’s 2021 exports. Turkey’s exports doubled seven times during the period from 2002 to 2022.
Turkey’s export share exceeded 1% of the world’s exports for the first time. Turkish exports reached the markets of 197 countries and regions around the world.
More than 9 thousand and 700 new companies joined Turkey’s export companies in 2022.
However, the Turkish government reaffirms its determination to make Turkey one of the ten most exporting countries in 2023. and continuing to transform crises into opportunities for the development of Turkey’s economy.
Who ranks first in export from Turkey?
Germany ranked among the top countries to adopt exports from Turkey in 2022, and Turkey’s exports to Germany over the past year were worth 18 billion and 910 million dollars.
The United States was second in exports from Turkey, at $14 billion and $362 million, and the United Kingdom at $12 billion and $250 million.
Italy is fourth in value for Turkish exports, at 11 billion and 231 million, and Iraq is fifth with $10 billion and $477 million.
Turkey’s exports to the EU increased by 12% compared to 2021. It was valued at $10 billion.
European countries outside the Union, such as the United Kingdom, have increased Turkey’s exports to it by 16%.
Turkey’s 2022 exports to Near East and Middle East countries rose 19.3%. And to North American countries at 17.1%. And to North Africa by 9.8%.
What are Turkey’s most important exports?
Over the past years, Turkey’s exports have continued to grow, despite all the problems the country has experienced, such as high inflation and depreciation of the local currency.
Turkey’s exports relied mainly on a solid production base, which turned the Turkish lira exchange rate crisis into an opportunity.
Turkey’s energy regulator had decided to lower electricity prices for consumers in the industrial sector, which the country relied on to drive economic growth alongside tourism.
Turkey’s main exports include:
Automotive: Turkey’s automotive industry is constantly evolving because Turkey aims to be the top European in the electric vehicle industry.
Turkey’s agricultural exports: Turkey is one of the leading exporters of agricultural products in all their forms, such as cotton, wheat, olives, vegetables, fruit, and hazelnuts.
Turkey’s agricultural exports are characterized by high quality and reasonable prices compared to European goods.
Textiles and clothing: Turkish textiles and clothing account for a significant share of Turkey’s exports yearly. They are required in all of the world’s markets for their high quality and reasonable prices.
Turkey exports tons of building materials annually, such as raw wood, plastic, and cement. And minerals such as copper, iron, mercury, manganese, and aluminium. Electronic devices and jewelry.
How to benefit from Turkey’s export growth?
The Turkish government offers foreigners many investment opportunities in the field of real estate investment in Turkey and agricultural investment. In addition to granting Turkish citizenship to each foreigner who buys a property worth at least 400 thousand Turkish pounds.
Discover the golden investment opportunities in Turkey, and if you have any queries, please contact the experts at Dari Properties today!
Read also: What is the future of real estate investment in Turkey in 2023?