Exporting to Turkey

Turkey Export Guide | Trade Finance Global

Exporting to Turkey

Turkey has a population of around 75 million and holds the seventh position in terms of size within the import list in the EU countries and fifth in terms of export. The EU is its top trade partner. The main export partners of Turkey are Iraq, the EU, Russia, the United Arab Emirates, USA, and Iran.

Turkey Country Profile

Official Name (Local Language)Turkiye Cumhuriyeti
CapitalAnkara
Population80,274,604
CurrencyTurkish Lira
GDP$856.8 billion
LanguagesTurkish
Telephone Dial In90

Turkey Imports Profile

Imports ($m USD)

233,8

Number of Import Products

4,336

Number of Import Partners

218

Top 5 import partners

Country

Trade

% Partner Share

China

23,371

10.00

Germany

21,302

9.11

Russian Federation

19,514

8.35

United States

11,952

5.11

Italy

11,305

4.84

Top 5 Import Products at HS 6 digit level

Export Product

Number

Gold in unwrought forms non-monetary

7.1%

Petroleum oils, etc, (excl. crude); preparation

4.2%

Ferrous waste and scrap, iron or steel, nes

3.7%

Transmission apparatus, for radioteleph incorpo

2.6%

Automobiles with diesel engine displacing more

2.6%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Turkey

Agriculture

%

Products List

6.1%

Tobacco, cotton, grain, olives, sugar beets, hazelnuts, pulses, citrus; livestock

Industry

%

Industry List

28.5%

Textiles, food processing, automobiles, electronics, mining (coal, chromate, copper, boron), steel, petroleum, construction, lumber, paper

Services

%

Services List

65.5%

Exporting to Turkey: What is trade finance?

Trade finance is a revolving facility which some banks and specialist lenders offer – it enables firms to purchase stock and can help ease cash flow problems. Generally, an export finance bank will fund most of the cost of the products, including charges (e.g. bank charges). Trade finance offers benefits over more traditional bank funding such as asset finance or business loans. Trade finance provides up front funding without affecting existing relationships with banks. How does it work? If you’re an organisation importing or exporting stock supplies internationally, then a trade finance facility would help you to fund this through offering a LC (letter of credit) or some form of cash advance. I’m looking to export to Turkey, how can Trade Finance Global help, and how does it work? If you’re looking to export goods to other markets, you may require finance for exporting, which is a commercial agreement between you (the exporter), and the foreign importer. A non-bank lender will advance you the cost of producing the stock that you’re exporting (as a debt instrument), either once you have shipped the goods, or before you have produced them. Once the importer has received the products and pays you for the import, you will repay the advance from the export bank over an agreed period of time.

Information

Exporting to Turkey? Contact our local experts

First Name*

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(Marketing Terms can be found here)

Turkey Economic Statistics

Government Website

https://www.turkiye.gov. tr/non-citizens

Sovereign Ratings

https://countryeconomy. com/ratings/turkey

Central Bank

Türkiye Cumhuriyet Merkez Bankasi

Currency USD Exchange Rate

43588

Unemployment Rate

10.9%

Population below poverty line

21.9%

Inflation Rate

8.5%

Prime Lending Rate

15.2%

GDP

$856.8 billion

GDP Pro Capita (PPP)

$21,100

Currency Name

Turkish Lira

Currency Code

TRY

World Bank Classification

Upper Middle Income

Competitive Industrial Performance

55/138

Corruption Perceptions Index

81/180

Ease of Doing Business

43/190

Enabling Trade Index

59/136

Currency in Turkey

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