Importing from Turkey

Turkey Import Guide | Trade Finance Global

Importing from Turkey

Turkey sits at the twenty-seventh largest export economy in the world and in terms of difficulty, is the fortieth most complex economy according to the Economic Complexity Index (ECI). In recent years, Turkey exported over $160B and imported around $220B, which resulted in a negative trade balance of around $60B. In recent years, the GDP of Turkey was around $820B, with a GDP per capita of around $18k.

The main exports of Turkey are machinery, transport materials and goods, which are already manufactured. These consist of cars (around $7B), refined petroleum (around $5B), raw iron bars ($4B), vehicle parts ($4B) and delivery trucks (around $4B). The main imports are gold ($16B), refined petroleum (under $16B), cars ($9B), scrap iron ($7B) and petroleum gas ($5B). When looking at the main export destinations, these are Germany ($15B), Iraq (around $12B), UK ($9B), France (under $8B) and Italy (around $7B). The main import origins are Germany (around $25B), China ($24B), Russia (under $15B), Italy ($13B) and the United States ($12B). In terms of location, Turkey borders Azerbaijan, Iran, Georgia, Armenia, Iraq, Syria, Greece and Bulgaria by land and Romania, Egypt, Cyprus, Ukraine and Russia, by sea.

Importing from Turkey? Contact our local experts

1.00 GBP
British Pound
1.00 GBP = 4.5938 TRY
=
4.5938 TRY
Turkish Lira
1.00 TRY = 0.21768 GBP

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Country Profile

CapitalRepublic of TurkeyTrkiye Cumhuriyeti(Turkish) Flag National emblem Anthem: "?stikll Mar??" "The Independence March" Ankara
Population
Area 783,356  km2 (302,455 sq mi)
km2 (36th)
Currency Turkish lira
GDP
Languages Turkish

0.24

Econ Complexity 59th of 184
1980
2015

$153B

Exports 28th of 221
1980
2015

$187B

Imports 23rd of 221
1980
2015

$20k

GDP Per Capita 63rd of 184
1990
2015

Turkey: Exports Profile

Exports from Turkey

Exports from Turkey: $150.1 billion
Export commodities:Apparel, foodstuffs, textiles, metal manufactures, transport equipment
Top export destinations:Germany 9.3%, United Kingdom 7.3%, Iraq 5.9%, Italy 4.8%, United States 4.5%, France 4.1% (2015)
GDP growth (annual %)

Importing from Turkey: What is trade finance?

Export finance is a revolving facility which lenders offer - it enables businesses to buy stock and can help ease the pressure from cash flow issues.

Often, an alternative financier will fund all of the cost of the receivables, including charges (e.g. VAT taxes).

Trade finance offers benefits over more traditional bank funding including asset finance or loans. Trade finance provides quick funding without affecting existing bank relationships.

How does it work?

If you're a firm importing or exporting stock supplies from or to other countries, 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 import from Turkey, how can Trade Finance Global help, and how does it work?

If you are looking to import inventory from other countries, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. A non-bank lender would act as the intermediary, paying the foreign exporter on your behalf until you get the stock supplies and have then sold them to your customer. Repaying the funder then happens over an agreed period of time.

Read the TFG Importers Guide here.

Importing from Turkey? Contact our local experts


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Country Profile

CapitalRepublic of TurkeyTrkiye Cumhuriyeti(Turkish) Flag National emblem Anthem: "?stikll Mar??" "The Independence March" Ankara
Population
Area 783,356  km2 (302,455 sq mi)
km2 (36th)
Currency Turkish lira
GDP
Languages Turkish

0.24

Econ Complexity 59th of 184
1980
2015

$153B

Exports 28th of 221
1980
2015

$187B

Imports 23rd of 221
1980
2015

$20k

GDP Per Capita 63rd of 184
1990
2015
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