Turkey and the EU have developed a strong economic relationship even if Turkey is not yet an EU member, but it signed a Customs Union agreement with the European Union in order to encourage trade and economic relationships. In recent years, the EU has ranked 1st at the top of Turkey’s imports and exports, while Turkey is the 7th in the EU top imports and 5th for exports. Turkey exported in EU many categories of goods, such as equipment for transport, textiles, agricultural products, cars, etc. and imported chemical products, machinery, and transport materials.

The Customs Union agreement has encouraged the trade between the two entities because it stipulates free circulation of goods. The products having an ATR certificate and being delivered to Turkey have preferential treatment. The Customs Union refers to industrial goods and not agricultural products, except the processed agricultural ones, services, and public procurement. The trading sector is one of the largest contributors to the Turkish economy, therefore starting a trading business in this country is very appealing to foreign entrepreneurs. Turkey's export-import coverage ratio rose to 86.8% this January-November, up from 75.6% in the same period last year. "Exports in November totaled $16.2 billion, the fourth-highest monthly export figure in 11 months," November the foreign trade deficit fell 51.84% to $25.1 billion. "In November, imports rose 11.44% to $18.1 billion compared to the same month last year," Pointing to the significant fall in imports in the first half of 2019, this rise also helped push up both production and investments. In the medium-to-long term, is to keep this export-import coverage ratio at a sustainable level and consistent with Turkey's value-added oriented high-growth perspective," she added. However in terms of the first 11 months as a whole, imports fell 11.29%, reaching $190.2 billion. He said the top three export provinces were Istanbul with $6.1 billion, Bursa ($1.38 billion), and Kocaeli ($1.3 billion).

Import Regime Turkey maintains a transparent and open trade regime regulated by Undersecretariat for Foreign Trade (UFT). Importers Every natural or legal person that owns tax ID number can be an importer. However according to customs legislation, importers must submit an information file that includes, registration certificate for council of commerce or industry, copy of Trade Registry Gazette, list of authorized signatures and power of attorney 1 to the related customs administration

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The most imported and exported products in Turkey

Turkey is a world leader when it comes to imports and exports, the trading industry being one of the largest in this country.
The most exported goods from Turkey are:
1.-Cars, spare parts and automotive equipment considering a large number of foreign car manufacturers operating in the country;
2.-Jewelry and precious stones, as Turkey is one of the most important gold producers in Europe and Asia;
3.-Metals, among which scrap iron is the most representative in terms of exports to Europe;
4.-Agricultural products – most of the locally-produced fruit and vegetables are exported to Europe;
5.-Textile products and fabrics are also exported to the European Union but also to Asian countries.
    Among the countries Turkey exports most of its products to, Germany, Italy and the United Kingdom are the most representative in Europe. In the Middle East, Turkey exports most of its products in Iraq and the UAE. When it comes to imports, Turkey imports raw materials, gold, textile fabrics, spare vehicle parts, and refined petroleum. The most recent reports indicate Turkey imports most of the raw materials from China, Germany, Italy, Russia, and the USA. Located at the crossroads of Europe and Asia, Turkey is one of the most important trading partners for countries on both continents which gives it a great advantage in both importing and exporting goods. Furthermore, some of the raw materials imported by Turkish companies are processed and then re-exported as finished goods.

Turkey's Top Trading Partners