Foreign Trade of Turkiye

  Beginning from the year  1980, Turkiye changed its economic development policy from “import substituting industrialization” to “export led growth” strategy. Economy opened up to world trade, export-promoting incentives were initiated (including tax exemptions, rebates and favorable credit terms), direct import controls have been eliminated, and quantity restrictions have been dismantled. State intervention in the economy was reduced to minimum level. As a result of these efforts, Turkiye has increased her share from world markets, from 0,15% in 1980 to 0,6% in the year 2003. Between 1980 and 2004 exports of Turkiye has increased from 2,9 billion dollars to 63 billion dollars. Structure of exported goods has also changed much from mainly agricultural products and raw materials to higher value added industrial products. Transformation still continues with increasing exports of transportation vehicles and office equipments.

  Western Europe is the most important market for Turkish exports. In particular, European Union (EU) members is a country group that has a major share in it. The share of EU in total exports has always been above 50 percent. Exports to the EU (15) were 7.2 billion dollars in 1990 and mounted to 11 billion dollars increasing by 10.9 percent annually during the period from 1990 and 1995. In 2000, exports to EU (15) reached to 14.5 billion dollars, but its share in total exports fell down to 52.2 percent. Although at the end of 2004 exports to EU (15) has reached to 32.5 billion dollars, it’s share in total exports decreased to 51.6 percent. In the year 2004 EU has enlarged to include 10 new members; but to these ten members Turkiye’s exports are not as high yet; these countries have around a total of %3 share in total exports of Turkiye.