Turkey is the 25th largest export economy in the world. In 2016, Turkey exported $139B and imported $188B, resulting in a negative trade balance of $49.1B. In 2016 the GDP of Turkey was $857B and its GDP per capita was $24.2k.
The top exports of Turkey are Cars ($8.32B), Gold ($8.25B), Delivery Trucks ($4.57B), Vehicle Parts ($3.81B) and Jewellery ($3.75B), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Cars ($9.8B), Unspecified ($9.6B), Refined Petroleum ($7.34B), Gold ($6.45B) and Vehicle Parts ($5.09B).
The top export destinations of Turkey are Germany ($14B), the United Kingdom ($11.7B), Iraq ($7.64B), Italy ($7.58B) and the United States ($6.62B). The top import origins are Germany ($24.9B), China ($16.7B), Russia ($13.7B), Italy ($10.6B) and the United States ($9.4B).
Turkey borders Armenia, Azerbaijan, Georgia, Iran, Iraq, Syria, Bulgaria and Greece by land and Egypt, Cyprus, Romania, Russia and Ukraine by sea.
Due to the implementation of the liberalization process since the 1980s, the Turkish economy has experienced a period of substantial growth. Foreign trade, in respect of both exports and imports, has grown rapidly and notable changes in the structure of exports have been observed. In this regard, industrial products have gained prominence over agricultural products.
Turkey became a member of the World Trade Organization (WTO) in 1995. Following this move, it finalized an agreement with the European Union, enabling it to join the Customs Union on January 1, 1996.