Türkiye's exports to G-20 countries near $100B amid 37% increase over 5 years

Türkiye's exports to G-20 countries have surged nearly 37% from 2019 to 2023, approaching a total value of $100 billion, according to recent data compiled by the Anadolu University (AA).

The increase highlights Türkiye's expanding role in the global economy, as the G-20 countries account for about 85% of the world's GDP and 75% of international trade.

More to Read

Turkish trade ministry convenes to set path toward $100B goal with US amid looming tariffs

Business 1 min read

NATO mulls over to establish $100B fund for Ukraine

World 1 min read

Over 150 business leaders gather to boost $100B US-Türkiye trade goal

Business 1 min read

G-20 presidency and summit in Brazil

The G-20, comprising 19 member countries and the European Union, is currently chaired by Brazil, which is hosting the G-20 Leaders Summit.

President Recep Tayyip Erdogan, attending the summit, stated that Türkiye aims to enhance global economic stability through increased collaboration.

Turkish President Recep Tayyip Erdogan (R) meets with Brazil's President Luiz Inacio Lula da Silva within the G-20 Leaders Summit in Rio de Janeiro, Brazil on November 17, 2024. (TUR Presidency / Mustafa Kamaci - Anadolu Agency)

Yearly export trends and key statistics

Türkiye's export performance showed notable growth across the G-20 member nations over the past five years.

• In 2019, Türkiye exported $71.2 billion worth of goods to G-20 countries.
• The COVID-19 pandemic impacted exports in 2020, reducing them to $68.8 billion.
• A rebound occurred in 2021, with exports rising to $86.8 billion.
• In 2022, exports further increased to $97.3 billion.
• In 2023, Türkiye maintained high export levels at $97.2 billion, marking a 37% overall increase from 2019.

A container ship transits through the Bosphorus in Istanbul on Aug. 18, 2023, (AFP Photo)

Top G-20 export destinations for Türkiye

Among G-20 countries, Germany, the United States, and the United Kingdom emerged as Türkiye’s largest export markets:

• Germany: Exports grew by 27%, reaching $21.1 billion in 2023.
• United States: Exports rose by 66%, increasing from $9 billion in 2019 to $14.9 billion in 2023.
• United Kingdom: Exports climbed by 10%, amounting to $12.5 billion last year.

Conversely, Türkiye's exports to Saudi Arabia and Argentina decreased during this period.

The Maersk Line container ship Maersk Batam sails in the Bosphorus on its way to the Mediterranean Sea in Istanbul, Türkiye on August 10, 2018. (Reuters Photo)

Export performance breakdown by country

Türkiye’s export data from 2019 and 2023 shows significant growth in key markets, including:

• Italy: $9.8 billion in 2019 to $12.4 billion in 2023 (+27%)
• Russia: $4.2 billion in 2019 to $10.9 billion in 2023 (+163%)
• France: $7.9 billion in 2019 to $10.3 billion in 2023 (+29%)
• China: $2.7 billion in 2019 to $3.3 billion in 2023 (+21%)

Countries

2019 (million dollars)

2023 (million dollars)

Change (percent)

Germany

16.617

21.083

27

USA

8.971

14.880

66

United Kingdom

11.279

12.463

10

Italy

9.753

12.373

27

Russia

4.152

10.907

163

France

7.946

10.288

29

China

2.726

3.306

21

Saudi Arabia

3.293

2.621

-20

India

1.166

1.644

41

Canada

986

1.627

65

Mexico

668

1.242

86

South Korea

944

1.042

10

Australia

661

944

43

Brazil

495

823

66

Republic of South Africa

570

779

37

Japan

503

645

28

Indonesia

289

411

42

Argentina

178

171

-4

Total

71,197

97,249

37

Türkiye's exports to these countries in 2019 and 2023 (million dollars) and change (percent) data

November 18, 2024 11:45 AM GMT+03:00