Turkiye: Record level reached in exports to the USA

Turkiye’s exports to the USA reached a record level of $14 billion 362 million last year.

Turkiye’s exports to the USA, which is its strategic partner in trade, reached its historical peak.

The demand for Turkish products in the USA, which has an economy of $20 trillion, continued to increase in 2022. While Turkiye remains a center of attraction for world brands, the increase in investment and trade between the two countries has enabled Turkiye to obtain more effective results in its foreign sales to the country.

The USA demand for Turkish products peaked as USA companies headquartered in the USA and operating in Turkiye expanded their commercial activities in Turkiye.

According to the information compiled by AA correspondent from the data of the Turkish Exporters Assembly (TIM), Turkiye’s exports to the USA reached a record level of $14 billion 362 million last year.

While exports to the USA increased by 11.8% in 2022 compared to the previous year, the share of the USA in Turkiye’s exports was 5.6%. Thus, the USA became the second country to which Turkiye exported the most last year.

Second in export growth

The USA was recorded as the second country in which Turkiye’s exports increased the most in terms of value.

The countries in which Turkiye increased its exports the most in terms of value last year were the Russian Federation with $2 billion 374 million, the USA with $1 billion 520 million, Iraq with $1 billion 479 million, Romania with $1 billion 466 million and Germany with $1 billion 218 million.

In this period, Turkiye made foreign sales of $7 billion 652 million to the Russian Federation, $10 billion 477 million to Iraq, $6 billion 317 million to Romania and $18 billion 910 million to Germany.

The countries where Turkiye’s exports recorded the highest decrease in value were the United Kingdom with $949 million 150 thousand, China with $465 million 552 thousand, Belgium with $318 million 16 thousand, Spain with $205 million 214 thousand and Singapore with $198 million 651 thousand.

During this period, foreign sales were made to the United Kingdom of $12 billion 250 million, to China $2 billion 879 million, to Belgium $4 billion 368 million, $9 billion 36 million to Spain and to Norway $509 million 441 thousand.

The highest demand for chemical products came from the USA

Last year, the chemical materials and products sector made the most exports to the USA. The exports of the chemical materials and products sector to the country amounted to $1 billion 523 million.

The automotive industry sold $1 billion 435 million, the steel industry $1 billion 220 million, ready-made clothing and apparel $1 billion 8 million and the jewelry industry $998 million 332 thousand to the USA.

Source: AA / Translated by Irem Yildiz

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