Turkey’s Exports to Neighboring Countries Reach Record $34.2 Billion in 2024

Turkey's exports to neighboring countries surged by 7.4% in 2024, reaching a record-breaking $34.2 billion, according to data from the Turkish Statistical Institute (TURKSTAT). This marks the highest level in the Republic’s history, contributing to Turkey’s overall exports of $261.9 billion for the year.

Iraq Leads as Turkey’s Top Export Destination

Among Turkey’s neighboring trade partners, Iraq maintained its position as the top export market, with $13 billion in Turkish goods. Other major recipients included:

• Bulgaria – $5.2 billion (+21.9%)
• Greece – $4.8 billion (+15.5%)
• Iran – $3.2 billion (-0.5%)
• Azerbaijan – $3.1 billion (+10.1%)
• Georgia – $2.7 billion
• Syria – $2.2 billion

Exports to all neighboring countries grew except for Iran, which saw a 0.5% decline.

Sectoral Breakdown: Fuel and Machinery Dominate Exports

The top export categories to Turkey’s neighbors in 2024 included:

• Mineral fuels, oils, and distillation products – $2.7 billion
• Boilers, machinery, mechanical devices, and nuclear reactors – $2.5 billion
• Electrical machinery and equipment – $2.1 billion

Meanwhile, the least exported goods were:

• Silk – $98,000
• Musical instruments – $357,000
• Straw, reed, and similar woven materials – $553,000

Turkey’s Export Growth Outlook

With robust trade expansion across most neighboring markets, Turkey continues to strengthen economic ties in the region. The record-breaking exports in 2024 highlight the country’s resilient manufacturing sector, increasing demand from trade partners, and rising energy exports.       Source: turkiyegazetesi.com.tr Translation: Cem Cetinguc