Türkiye’s exports to two major markets, the United States and Germany, which again took the lion’s share in the country’s foreign sales, increased to record levels in 2022.
Exports to the U.S. reached a record level of $14.3 billion last year, meanwhile, sales to Germany increased by 6.9% in 2022 compared to the previous year and reached $18.9 billion, reaching an all-time high, according to an Anadolu Agency (AA) report Tuesday, which cited data by the Turkish Exporters Assembly (TIM).
While Germany is the most important trade partner of Türkiye, which maintains its records in exports, Germany is among the countries with the highest number of foreign companies in the country, with around 7,600 companies.
Germany was followed by the U.S. with $14.3 billion, a historical peak, the United Kingdom with $12.2 billion, Italy with $11.2 billion and Iraq with $10.4 billion.
While Türkiye’s exports increased by 11.8% to the U.S., a 5.3% increase was recorded in exports to Italy and 16.4% to Iraq.
The country’s exports decreased by 7.2% to the United Kingdom.
While Türkiye remains a center of attraction for world brands, the increase in investment and trade with the U.S. has enabled Türkiye to obtain more effective results in its foreign sales to the country.
The U.S. demand for Turkish products peaked as U.S. companies headquartered in the country and operating in Türkiye expanded their commercial activities.
While exports to the U.S. increased by 11.8% in 2022 compared to the previous year, the share of the U.S. in Türkiye’s exports was 5.6%, making it the second country to which Türkiye exported the most last year.
The U.S. was also the second country in which Türkiye’s exports increased the most in terms of value.
The countries to which Türkiye increased its exports the most in terms of value last year were Russia with a $2.3 billion increase, the U.S. with $1.5 billion, Iraq with $1.4 billion, Romania with $1.4 billion and Germany with 1.2 billion.
In this period, Türkiye made foreign sales of $7.6 billion to Russia, $10.4 billion to Iraq and $6.3 billion to Romania.
The countries in which Türkiye's exports decreased the most in terms of value were the U.K. with a $949.1 million decrease, China with $465.5 million, Belgium with $318 million, Spain with $205.2 million and Singapore with $198.6 million.
Last year, the automotive industry made the most exports to Türkiye’s No. 1 export market, Germany with $4.3 billion.
The automotive industry was followed by ready-made clothing and apparel with $3.6 billion, ferrous and non-ferrous metals with $2.1 billion, electricity and electronics with $1.3 billion, and chemicals and products with $1.3 billion.
Ships, yachts and services exports, meanwhile, reached $6.7 million, other industrial products to $8.1 million, ornamental plants and products to $11.7 million, tobacco to $12.2 million, and olive and olive oil to $41 million.
The ferrous and non-ferrous metals sector made the highest increase in exports to Germany on a value basis with $414.6 million.
This sector was followed by the automotive industry with $224.7 million, ready-made clothing and apparel with $172.1 million, the steel industry with $140.8 million and chemicals and their products with $88.7 million.
The steel industry exported $903.5 million to the country last year.
Exports of hazelnuts and their products to Germany decreased by $44.3 million to $489.6 million, while the export of the fresh fruit and vegetable sector decreased by $44.1 million to $243.6 million.
