Formal and cordial relations between Turkey and Germany started during the Ottoman Empire period, and since then, the bond between these two nations has kept on strengthening every year. The relations between these countries started getting stronger on various grounds, such as cultural, political, and economic. Germany is considered one of Turkey's major trade partners.
Germany is considered one of the most successful and powerful countries in the European Union. Due to this reason, Turkey finds trading with Germany more profitable and risk-free. Turkey gets a lot of variety, diversification, and options to choose from in Germany’s market as per the demands of its citizens.
Apart from trade relations, Germany also maintains good cultural relations with Turkey. Some of the main cultural projects of Germany in collaboration with Turkey are the Tarabya Cultural Academy (Istanbul), followed by the German-Turkish Bridge for Youth, the Turkish-German University, and different spaces for miscellaneous cultural projects and fests.
Unfortunately, bilateral trade relations between Turkey and Germany will be strained in 2023 due to some new domestic policies levied by Turkey. Moreover, Turkey is detaining German nationals forcefully and not allowing them to leave. As Germany is the most powerful country in the EU, relations between Turkey and the EU are also getting strained.
BILATERAL TRADE STATISTICS BETWEEN TURKEY AND GERMANY
In this section, we will compare the bilateral trade statistics between both countries over the span of the last five years and try to understand the trends so that future predictions can be made.
BILATERAL TRADE TRENDS BETWEEN TURKEY AND GERMANY (2018-2022) | |||
YEAR | TURKEY > GERMANY | GERMANY > TURKEY | TOTAL BILATERAL TRADE |
2018 | USD 16.13 billion | USD 20.40 billion | USD 36.53 billion |
2019 | USD 16.62 billion | USD 19.27 billion | USD 35.89 billion |
2020 | USD 15.98 billion | USD 21.73 billion | USD 37.71 billion |
2021 | USD 19.31 billion | USD 21.75 billion | USD 41.06 billion |
2022 | USD 21.14 billion | USD 24.03 billion | USD 45.17 billion |
From the above-mentioned table, it is noted that Turkey Export Data is always low compared to its import data, due to which Turkey has experienced a negative trade balance in all five years.
Another point to note is that bilateral trade between Germany and Turkey grew by 23.65% in the last 5 years.
TOP EXPORTS FROM TURKEY TO GERMANY IN 2022
Every year Turkey exports varied items to Germany to fulfill the needs of its citizens. To keep a record of total exports, Turkey maintains a Turkey Export Data report. As per that report, the top exports made by Turkey to Germany in the year 2022 were:
Light automotive (USD 3.16 billion)
Mechanical machines and appliances (USD 2.93 billion)
Apparel and clothing items (USD 2.21 billion)
Aluminum products (USD 1.13 billion)
Iron and steel items (USD 1.13 billion)
Plastic goods (USD 756.14 million)
Other items in the rundown are rubberized products, edible fruits and nuts, and furniture.
TOP IMPORTS OF TURKEY FROM GERMANY IN 2022
Just like Turkey exports items to Germany, in the same way, Turkey also imports numerous products and items from Germany. As per Turkey Import Data for the year 2022, the top items imported by Turkey from Germany were:
Machines (USD 5.51 billion)
Automobiles (USD 4.12 billion)
Plastic items (USD 1.96 billion)
Aircraft and related spare parts (USD 1.45 billion)
Iron and steel (USD 1.08 billion)
Medical products (USD 958.35 million)
CONCLUSION
There is no doubt in saying that Turkey and Germany are decent trade partners, and both have scope for expansion. Due to some policy amendments and earthquakes in Turkey, the proceedings are on a halt, and relations with the EU nations are getting strained. We hope that these issues get resolved soon so that bilateral trade can grow.
Now, if you need some detailed Export Import Data reports for any of these nations, then contact us today and get the most detailed form of reports from Tradeimex. Along with these two countries, we also deal with providing export and import data for 70+ other small and big countries that are involved in the international trading of goods and services.
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