Turkey – European Union Export Analysis
(2022-2024)
All Product Groups
Overall Export Performance
$118.3 Billion
$119.1 Billion
$126.4 Billion
3-Year Growth
Turkey’s Share in EU Imports
Turkey is steadily increasing its market share as a “nearshoring” hub for the EU.
Leading Export Sectors (2024)
1. DRIVING FORCE
Motor Vehicles
$25.6 Billion
3.4% of EU automotive imports
2.
Machinery
$11.0 Billion
3.
Mineral Fuels
$10.2 Billion
4.
Electrical Equipment
$8.8 Billion
5.
Knitted Apparel
$7.4 Billion
Sectoral Dynamics
Rising Sectors
-
Defense Industry (’93)
Record growth: $0.14 Billion → $1.17 Billion. EU market share reached 9.7%.
-
Precious Metals (’71)
Exports doubled: $1.33 Billion → $2.77 Billion.
-
Pharmaceuticals (’30)
Over 150% increase: $0.34 Billion → $0.87 Billion.
Struggling Sectors
-
Iron and Steel (’72)
$5.4 Billion → $4.4 Billion. Influenced by global demand and CBAM concerns.
-
Textiles and Apparel (’61, ’62)
Experiencing declines due to increased competition from Asia and rising costs.
Future Strategic Assessment
Opportunities
- Green Deal compliance
- Nearshoring
- Technology & digitalization
Risks
- EU protectionist measures (CBAM)
- Economic recession in the EU
Recommendations
- Value-added production
- Investment in Green & Digital shift
- Market diversification
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