Turkey EU's 5th largest trade partner in 2016

Published 31.03.2017 00:00
Updated 31.03.2017 00:15

Turkey was the European Union's (EU) fifth largest trade partner last year, recent data released by the EU's statistics body, Eurostat, revealed on Wednesday.

In 2016, Turkey's trade volume with the 28-member bloc was estimated at 145 billion euros, some 4.2 percent of the union's overall trade volume, the Eurostat report said.

Last year, Turkey exported goods worth 66.7 billion euros to the EU, 8.3 percent more than a year earlier. The volume made Turkey the fifth largest exporter to the bloc, with an approximate share of 4 percent in overall EU imports.

Turkey, on the other hand, imported 78.01 billion euros worth of goods and products from the EU, down by around 13 percent or 990 million euros from 2015. The import volume, a 4.5 percent of total EU exports, made it the fourth largest export destination of the EU.The U.S. topped the list as EU's largest trading partner, with a trade volume of around 610 billion euros or 17.7 percent of total EU trades, while China came second with 515 billion euros or 14.9 percent of the blocs total trade.

Switzerland and Russia occupied the third and fourth spots, claiming 7.6 percent and 5.5 percent of trade activities, respectively.

Share on Facebook Share on Twitter