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TURKEY AND ITS CONTRIBUTION TO GLOBAL TRADE DATA

DEMOGRAPHIC PROFILE AND TRADING TRENDS OF TURKEY

Turkey is yet another Muslim country which is located partly in Western Asia and partly in Southeast Europe. Turkey shares its boundary with many nations like Armenia, Iraq, Syria, etc. The land area which is dedicated to Turkey is close to 7,83,400km^2. The population of Turkey is 8.36 crores and around 98% population belongs to the Muslim religion. The capital of the nation is Ankara and the currency used here is called the Turkish Lira.

Turkey plays a very important role in Global Trade Data and has a considerable amount of stake in the total imports and exports. In the year 2021, as per Turkey Import Data the nation imported goods worth USD 271 billion whereas, the total exports as per Turkey Export Data were USD 225 billion. Roughly, the ranks of the nation with regard to total imports and exports in 2021 were 22^nd and 27^th respectively.

CONTRIBUTION OF TURKEY EXPORT DATA TO GLOBAL TRADE DATA

According to the analysis of Turkey Trade Data and Turkey Export Data for the year 2020, the nation exported goods worth USD 177 billion. The major goods that were exported from the nation were:

· Four-Wheelers (USD 10 billion)

· Motor Spare Parts (USD 4.60 billion)

· Commercial Trucks (USD 4.44 billion)

· Precious Metals like Gold (USD 4 billion)

· Purified Petrol (USD 5.55 billion)

In the same year, Turkey was the biggest exporter of iron bars, handmade rugs, wheat flour, and marble.

Turkey performed trade with multiple countries, but the major countries as listed in Turkey Export Data were:

· Germany (USD 16.5 billion)

· The United Kingdom (USD 12.9 billion)

· The United States (USD 10.2 billion)

· Iraq (USD 9.13 billion)

· Italy (USD 8.25 billion)

CONTRIBUTION OF TURKEY IMPORT DATA TO GLOBAL TRADE DATA

According to the analysis of Turkey Trade Data and Turkey Import Data for the year 2020, the nation imported goods worth USD 207 billion. The major goods that were imported from the nation were:

· Precious Metals like Gold (USD 23.5 billion)

· Four-Wheelers (USD 8.20 billion)

· Purified Petrol (USD 6.2 billion)

· Scrap Iron (USD 6.01 billion)

· Motor Spare Parts (USD 4.60 billion)

In the same year, Turkey was the biggest importer of scrap iron, filament yarn, sunflower seeds, and looms.

Turkey performed trade with multiple countries, but the major countries as listed in Turkey Import Data were:

· Germany (USD 24.1 billion)

· China (USD 22.4 billion)

· Russia (USD 13.2 billion)

· The United States (USD 10.63 billion)

· Italy (USD 8.95 billion)

CONCLUSION

It is evident from the discussion that Turkey has decent contribution to Global Trade Data in past years. It is predicted that as the nation is in the developing phase right now, new avenues and opportunities will be getting discovered in Turkey very frequently.

Being an emerging nation, the contribution of Turkey to global trade data is expected to grow more in the future due to the rise in population and demand in the world. Our recommendation is that if any marketer in the world deals in the export of goods like gold, cars, or scrap iron, can target the Turkish market now to generate profits.

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If you want further analysis and the best advice about the Import Export Data or Global Trade Data of any country, then get in touch with TradeImeX® Info Solution Pvt Ltd. We are one of the best companies available online that provide 100% accurate and reliable trade data from more than 70 countries including Turkey Export Data and Turkey Import Data at affordable prices. We deal in providing customized databases to our clients which are highly curated as per each client’s needs and wants and are known as the best Import Export Data Provider in the industry.

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