Turkey is a major player in the global trade market, with its strategic location between Europe and Asia making it an ideal hub for international trade. As a result, Turkey has consistently been one of the top importers in the world, importing a wide range of products from various countries.
Turkey has been steadily climbing the ranks as one of the top importers in the world, and it is expected to continue this trend in 2023. Turkey is set to become the 9th largest importer globally by 2023. This is a significant jump from its current ranking of being the 14th largest importer.
In line with its increasing import rank, Turkey's total import value is also predicted to see a significant rise in 2023, Turkey's total imports are projected to reach $299 billion by then.The main imports of Turkey include machinery and equipment, fuels and minerals, chemicals and transport equipment. With a strong demand for these goods domestically as well as regionally, we can expect Turkish imports in these sectors to continue on an upward trend.
Turkey has been rapidly growing over the past few years and is projected to continue this trend in 2023. With a thriving industrial sector and a large consumer market, Turkey's GDP is expected to reach $1.5 trillion by 2023. This growth can be attributed to various factors such as government initiatives promoting foreign investment and a skilled workforce.
In 2023, Turkey's top foreign exporters were Russia, China, Germany, United States, and Italy. These five countries accounted for over 40% of Turkey's total imports. One major player is Russia. Despite political tensions between the two countries, Russia has been steadily increasing its exports to Turkey over the past few years. In fact, Turkish imports from Russia reached a record high in 2023.