Growing significantly each year between 2005-2014 save for the 2009 when a global economic crisis hit the world economies, Turkey’s exports have more than doubled over the last decade.
With the aim of reaching $500 billion exports annually by 2023, the centenary of Republic of Turkey, exports rose from 73.4 billion in 2005 to 157.6 billion in 2014, rising by more than hundred percent.
Exports from automotive, ready–made garments and chemicals sectors constituted almost 40 percent of Turkey’s total exports volume last decade.
The automotive industry was the largest manufacturer of Turkish export goods, for a total of $22.2 billion in 2014. Other major exporters were ready–made garments sector with $18.7 billion and chemicals sector around $17.8 billion.
The largest importer of Turkish goods last decade was Germany with over 120 billion. Germany was followed by the U.K. with $75 billion and Italy with $68 billion.
In line with improving relations with Iraq, exports to this country which stood at a mere $2.8 billion annually in 2005 rose to $10.6 billion in 2014, pushing overall exports to Iraq over $64.8 billion, making it the fourth largest importer of Turkish goods.