07 Mart 2023,Foreign trade, Elevator Vizyon Magazine, All What You Are Looking For is On This Site

Foreign trade

According to the Ministry of Commerce's foreign trade data for 2022, exports increased by 12.9 percent to $254 billion 210 million and imports increased by 34.3 percent to $364 billion 395 million in the January-December period of 2022 compared to the same period of the previous year.

In 2022, foreign trade volume increased by 24.6 percent compared to the previous year and reached 618 billion 605 million dollars.

Import-export balance 2022: The highest deficit in foreign trade in the last 27 years
The foreign trade deficit in Turkey exceeded 110 billion dollars in 2022. This was the highest foreign trade deficit seen since 1996. 

The ratio of exports to imports was 70% in 2022. In 2022, both exports and imports reached the highest level in the last 27 years.

In 2022, compared to the previous year, exports increased by 12.9 percent to $ 254.2 billion, while imports increased by 34.3 percent to reach $ 364.4 billion. The foreign trade deficit was $110.2 billion.

Turkish Statistical Institute (TURKSTAT) has been showing foreign trade data since 1996. Therefore, the analyzes in the news cover the last 27 years.

Record in exports and imports In 2022, a record was broken in both exports and imports. According to the General Trade System (GTS), exports exceeded $ 250 billion for the first time, while imports exceeded $ 300 billion for the first time. The highest level was seen in 2021. In 2021, exports were 225 billion dollars and imports were 271 billion dollars.

Exports to African countries hit a record high in 2022
Turkey's exports to African countries reached a record level last year, exceeding $21 billion. Exports to African countries reached a historic peak last year. According to the information compiled from the Turkish Exporters Assembly (TIM) data, when Turkey's foreign sales according to country groups are examined, exports to African countries increased by 12.3 percent last year compared to 2021 and reached a record level of 21.8 billion dollars.

While the share of export sales to African countries in total exports was determined as 8.6 percent in 2022, African countries were the third country group where Turkey exported the most last year on the basis of country groups. In 2022, Turkey exported $93.6 billion to EU countries and $32.8 billion to Middle Eastern countries.

Among the African countries, Turkey's top export countries were Egypt with 3.9 billion dollars, Morocco with 3 billion dollars, Libya with 2.4 billion dollars, Algeria with 1.9 billion dollars, and South Africa with 1.6 billion dollars.

$35 billion worth of exports to the Gulf
Exports to the Middle East and Gulf countries, which consist of Bahrain, the United Arab Emirates (UAE), Palestine, Iraq, Iran, Israel, Qatar, Kuwait, the Turkish Republic of Northern Cyprus (TRNC), Lebanon, Syria, Saudi Arabia, Oman, Jordan, and Yemen, reached $ 29 billion in 2021 and reached $ 34.2 billion in 2022. In the period in question, the most exports to the Middle East and Gulf countries were made to Iraq with 10.5 billion dollars. Iraq was followed by Israel with $6.7 billion, the UAE with $3.7 billion, and Lebanon and Iran with $2.4 billion. In the same period, exports of $1.5 billion to Syria, $1.4 billion to Qatar, $1.3 billion to the TRNC, $1.1 billion to Yemen, $949.6 million to Saudi Arabia, $872.9 million to Jordan, $636.5 million to Kuwait, $387.6 million to Oman, $194.1 million to Bahrain and $120.8 million to Palestine were made.

Exports to the Middle East and Gulf region increased in 12 countries compared to 2021 in 2022 and decreased in 3 countries.

Machinery exports hit a record high of $25.3 billion in 2022
Turkey's machinery exports reached $25.3 billion in 2022, an increase of 9.6 percent compared to the previous year, breaking the all-time annual record. According to the Machinery Exporters Association (MAİB) data, when the 2022 exports of the machinery manufacturing industry were included in the free zones, they increased by 9.6 percent compared to the previous year to 25.3 billion dollars.

With the exception of export from free zones, Germany was the country with the most machinery exports with $2.9 billion. It was followed by the USA with 1.5 billion dollars and Russia with 1.3 billion dollars. Machinery exports from free zones to these three countries exceeded 600 million dollars.

Last year, exports to Russia increased by 62.4 percent, while exports to this country amounted to 250 million dollars in December alone. Machinists have reached the highest data of all time in trade relations with Russia.

Free zones contributed $11.4 billion to exports in 2022

4.5 percent of Turkey's total exports in 2022 were realized from free zones.

The free zone with the highest export was the Aegean with 2 billion 491 million dollars. Mersin Free Zone ranked second with a contribution of 1 billion 500 million dollars, Bursa Free Zone ranked third with 1 billion 217 million dollars, and European Free Zone ranked fourth with 1 billion 194 million dollars. The Aegean Free Zone, located in Izmir, accounted for 17 percent of the city's 2022 exports, which amounted to $ 13.9 billion, and 21 percent of the exports of all free zones. With its export success, the Aegean Free Zone left behind 67 provinces including Antalya, Tekirdağ, and Kahramanmaraş, and exported more than the annual exports of each of them.

Next year's target is 10 percent growth.
Aegean Free Zone Founder and Operator AŞ (ESBAŞ) Senior Manager Faruk Güler said that 186 companies operate in the free zone, which is established on an area of 2.5 million square meters.

Underlining that although there are larger free zones in terms of the number of areas and companies, they are in the first place in exports, Güler said: "Since our establishment, we have done a lot of research on 'what kind of companies should be in the Aegean Free Zone' and we have traveled the world many times. As a result, companies that make parts to the highest level in the aviation sector and automotive sectors have developed. What matters is not only the number of companies but also the fact that companies can continuously sell their work to the most advanced companies in the world. This is about the ability of companies. We have cared about this very much since the beginning. Companies with R&D, technology, technology, and employment, and export capability should have come here. We have come to this day by choosing companies that can do this at the highest level. "