According to provisional data from TURKSTAT, the annual foreign trade volume in goods was realised as $277 billion In 2007.

• Imports (CIF) : $170 billion,
• Exports (FOB): $107 billion

The deficit on foreign trade in goods in 2007 was $ 62.8 billion, compared to $ 40.2 billion in 2006. Exports rose by 25.3% and imports rose by 21.8% over 2006.

The ratio of total exports in goods to total imports in goods was realised as 63% in 2007, below the long term average of 72%.

Turkey's deficit on foreign trade in goods and services was $32.7 billion in 2007, compared with a deficit of $27.1 billion in 2006.

The surplus on foreign trade in services was $14.1 billion in 2007, compared with $13.8 billion in 2006.

Export of goods (FOB) rose by 25.3% to USD 107,154 million in 2007 over 2006 and shuttle trade revenues decreased by 6.3% to USD 6,002 million.

In 2007, road vehicles and their parts has by far the highest value exported at USD 15,902 million and then,  machineries, mechanical appliances, boilers, equipments and parts USD 8,747 million,  Iron and steel USD 8,352 million.

As for exports by country groups, growth in exports to the EU countries (26%), which have the largest share in total exports, remained above the growth in total exports. The share of this group in total exports rose by 10.1 percentage points.

Increases in exports to Greece, Russia, Bulgaria, Romania, Poland and Spain were also remarkable in 2007. Motor vehicles and fruits and vegetables had the highest shares in exports to these countries.

Imports (including freight and insurance cost), increased by 21.8% in 2007.

In 2007 overall, price movements were found to be influential in the nominal growth of imports. According to foreign trade index data released by TURKSTAT, the imports unit value index rose by 9.7%.

The top categories for imports were mineral fuels and mineral oils  (USD 33,876 million) and then machineries, mechanical appliances, boilers, equipments and parts (USD 22,581 million).

Oil prices have been on the rise again since early 2007 after a fall in the last quarter of 2006. Production cuts of OPEC, higher-than-expected demand, ongoing tension in the Middle East, and fluctuations in the USD exchange rate have recently led to sharp increases in crude oil prices.

In 2007, while the European Union Countries were the most intensive country group for imports (USD 68,590 million ), followed by other European Countries (USD 34,248 million), Asian Countries (USD 46,284 million) and Free Zones in Turkey (USD 1,221 million).

According to Broad Economic Categories Classification, imports of intermediate goods, which has 72.7% proportion, increased by 24.1%, and imports of capital goods and consumption goods increased by 15.8% and 16%, respectively

Foreign trade statistics

Main economic indicators