According to allcitypopulation, Turkey is a transcontinental country located in the Middle East and southeastern Europe, with the Black Sea to its north, the Mediterranean Sea to its south, and the Aegean Sea to its west. The country covers an area of 783,562 square kilometers, making it slightly larger than Texas. Turkey is bordered by eight countries: Bulgaria and Greece to the west; Georgia, Armenia and Iran to the east; Azerbaijan to the northeast; Iraq and Syria to the southeast.
The population of Turkey is estimated at 82 million people (as of 2020). The majority of Turks are ethnic Turks (70-75%) while other ethnicities include Kurds (18%), Circassians (2%), Arabs (2%), Greeks (1%), Armenians (.5%) and Jews (.2%). The official language is Turkish but several minority languages are also spoken including Kurdish, Arabic, Armenian and Greek. The majority of Turks are Muslim (98%) with small Christian and Jewish minorities. According to Petwithsupplies, the capital city of Turkey is Ankara with a population of 5 504 000 (2018). Other major cities include Istanbul with a population of 15,677,000 (2018), Izmir with a population of 4,320,000 (2018), Bursa with a population of 2,994,000 (2018), Antalya with a population of 2,426,000 (2018).
Turkey has a mixed economy which is largely service-based but also includes a significant industrial sector. It is one of the world’s leading producers of textiles, carpets, cars, consumer electronics and chemicals. Agriculture accounts for roughly 10%of GDP with main crops being wheat, barley, cotton and olives. Tourism plays an important role in Turkey’s economy with over 45 million tourists visiting in 2019 alone.
In terms of international trade Turkey has traditionally been reliant on imports due to limited domestic production capacity but this has been gradually changing in recent years as domestic production has increased significantly. In 2019 Turkey exported $172 billion worth of goods mainly consisting of textiles & clothing ($35 billion), motor vehicles & parts ($30 billion), agricultural products ($23 billion) as well as chemicals ($20 billion). Its top import sources were China ($26 billion), Russia ($17 billion), Germany ($14 billion) and United States ($13 billion). These imports mostly consisted of machinery & equipment such as computers or industrial engines as well as consumer goods such as cars or TVs.
Foreign Trade of Turkey
Turkey has a long and varied history of foreign trade, with its strategic location at the crossroads of Europe, Asia, and the Middle East providing it with an ideal trading environment. As such, Turkey has been a major hub for international trade since ancient times.
In modern times, Turkey’s foreign trade is heavily focused on exports. In 2019, exports accounted for $172 billion worth of goods. The country’s main exports are textiles and clothing ($35 billion), motor vehicles and parts ($30 billion), agricultural products ($23 billion), as well as chemicals ($20 billion). These are mostly exported to countries within the European Union (EU) such as Germany, Italy, France and the Netherlands.
When it comes to imports, Turkey is largely reliant on foreign countries due to limited domestic production capacity. In 2019, Turkey imported $232 billion worth of goods mainly from China ($26 billion), Russia ($17 billion), Germany ($14 billion) and the United States ($13 billion). These imports mostly consisted of machinery & equipment such as computers or industrial engines as well as consumer goods such as cars or TVs.
In terms of energy resources, Turkey imports large amounts of oil from countries like Iraq and Iran while also importing natural gas from Russia via pipelines through Georgia and Bulgaria. In addition to this, it also imports electricity from Bulgaria in order to meet its rising demand for electricity.
Turkey also has a large tourism industry which contributes significantly to its economy each year. Over 45 million tourists visited in 2019 alone resulting in over $30 million in revenues for the country’s hotels, restaurants and attractions. The majority of these tourists come from Europe with Germany being one of the top source markets followed by Russia, United Kingdom and France respectively.
Overall, foreign trade plays an important role in Turkey’s economy contributing towards its economic growth each year while also providing jobs for many people across various industries such as manufacturing, agriculture and tourism among others. As such it will continue to be an important part of the Turkish economy going forwards into the future.
Major Trading Partners of Turkey
Turkey has a wide range of trading partners both within the European Union and beyond. In 2019, the country’s main trading partners were Germany, Iraq, China, Russia and the United States.
Germany is one of Turkey’s most important trading partners with bilateral trade between the two countries amounting to around $32 billion in 2019. Turkish exports to Germany mainly consist of agricultural products, textiles and clothing as well as motor vehicles and parts while German exports to Turkey mainly consist of machinery & equipment such as computers or industrial engines as well as consumer goods such as cars or TVs.
Iraq is another major trading partner for Turkey with bilateral trade between the two countries amounting to around $12 billion in 2019. Turkish exports to Iraq mainly consist of food & beverages, chemicals, motor vehicles and parts while Iraqi exports to Turkey mainly consist of oil and other mineral fuels.
China is also an important trading partner for Turkey with bilateral trade between the two countries amounting to around $26 billion in 2019. Turkish exports to China mainly consist of motor vehicles and parts, textile products and chemicals while Chinese exports to Turkey mainly consist of machinery & equipment such as computers or industrial engines as well as consumer goods such as cars or TVs.
Russia is another major trading partner for Turkey with bilateral trade between the two countries amounting to around $17 billion in 2019. Turkish exports to Russia mainly consist of food & beverages, chemicals, motor vehicles and parts while Russian exports to Turkey mainly consist of oil and natural gas which are imported via pipelines through Georgia and Bulgaria.
The United States is another key trading partner for Turkey with bilateral trade between the two countries amounting to around $13 billion in 2019. Turkish exports to US mainly consists of agricultural products such as fruits & nuts while US exports mostly consisted of machinery & equipment such as computers or industrial engines along with consumer goods such as cars or TVs.
Overall, these five countries represent some of Turkey’s most important trading partners contributing significantly towards its economy each year through imports/exports activities along with investment opportunities provided by foreign companies operating within its borders which helps create jobs for many people across various industries throughout the country.
Major Imports and Exports of Turkey
Turkey is a major trading partner in the Middle East, with exports and imports totaling $248 billion in 2019. Turkey’s top exports include motor vehicles and parts, textiles, chemicals, food & beverages, machinery & equipment, and agricultural products.
Motor vehicles and parts are the leading export from Turkey. In 2019, this sector accounted for nearly 10% of total exports. The majority of these exports are cars and trucks, while other motor vehicle parts such as engines and transmissions also make up a large portion of these shipments.
Textiles are another major export from Turkey. This sector accounted for 8% of total exports in 2019. Textiles shipped from Turkey include apparel such as clothing, footwear, and leather goods as well as home furnishings such as carpets and rugs.
Chemicals make up the third largest export sector from Turkey with 7% of total exports in 2019. These chemicals are used in a range of industries including automotive manufacturing, food production, plastics processing, pharmaceuticals production, and chemical engineering research laboratories. The most significant chemical exports from Turkey include organic chemicals such as solvents, herbicides/pesticides/fungicides/insecticides/rodenticides/herbicidal concentrates, and pharmaceuticals.
Food and beverages are the fourth leading export sector from Turkey. This sector accounted for 6% of total exports in 2019. Food and beverage exports include processed foods such as canned fruits and vegetables, juices, jams, jellies, sauces/condiments/seasonings, dairy products, confectionery items, and snacks. Beverage exports include wine and spirits.
Machinery & equipment is the fifth largest export sector from Turkey with 5% of total exports in 2019. Machinery & equipment exported from Turkey includes industrial machinery such as engines, pumps, turbines and compressors; agricultural machinery such as tractors; construction machinery such as cranes; IT equipment such as computers; medical devices such as X-ray machines; and consumer electronics such as televisions.
Agricultural products are the sixth leading export sector from Turkey with 4% of total exports in 2019. Agricultural products exported from Turkey include fruits & nuts (olives/dates/figs), vegetables (tomatoes/onions), cereals (wheat/rice), tobacco (cigarette tobacco), animal feed (barley/corn), sugar & sugar confectionery (honey), coffee & tea (coffee beans).