International Trade in Turkey - 2333 Words

International trade in Turkey December 2012 Summary :Turkey at a glance......................................................3Economy of Turkey....................................................3International Trade - now and then.........................4Exports........................................................................5Imports.......................................................................7Trade balance.............................................................8Trade agreements and policies.................................8International Trade strategy...................................10Conclusion................................................................11 Turkey at a glanceTurkey, officially known as†¦show more content†¦Turkey is the largest producer and exporter of agricultural products in the Near East and North Africa region and ranks seventh worldwide in farm output. The European Union is by far Turkey s leading customer (56.4% of Turkish exports), followed by the United States, China and Iraq. In total, Turkey’s international trade amounted to $334.7 billion or 45.9% of its overall GDP. This compares with roughly 25% for the U.S. and 60% for Canada. Exports The main principle of export is to allow the goods that are in free circulation to leave Turkey for export purposes.The export regime of Turkey is managed by the Undersecretariat of Foreign Trade (General Directorate for Exports). A major role is also played by the Export Promotion Centre of Turkey. Turkey exports were worth 13013 Million USD in September of 2012. Historically, from 1984 until 2012, Turkey Exports averaged 3809.8 USD Million reaching an all time high of 13246.7 USD Million in June of 2012 and a record low of 437.0 USD Million in July of 1984. Turkey is the world’s 31st biggest exporter. Turkey’s major export products include clothes, electronics, automobiles and agricultural products. Other major products exported from Turkey include iron and steel, mineral fuels and oil, preciousShow MoreRelatedThe Impact Of International Trade On The Development Of New Technology1494 Words   |  6 PagesIntroduction International trade has evolved and expanded significantly in the last 50 years. The expansion in trade has been driven by a reduction in trade barriers and the development of new technology. This has reduced the cost of communication and transport. Outward-looking policies have replaced protectionism policies and have led to the increased openness in markets and free trade. 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