The top 5 imports of Turkey are Gold ($23.7B), Cars ($8.17B), Refined Petroleum ($6.13B), Scrap Iron ($6.01B), and Motor vehicles; parts and accessories ($5.84B),
In 2020, Turkey was the world's biggest importer of Scrap Iron ($6.01B), Non-Retail Synthetic Filament Yarn ($1.21B), Sunflower Seeds ($560M), Unprocessed Artificial Staple Fibers ($409M), and Looms ($334M)
Imports are a good indicator of a country's economic status and priorities:
The demand for Gold in Turkey stemmed from the need to meet retail demand following a currency crisis (2019). Gold imports jumped nearly 550% as inflation accelerated to 83.45% in September 2022.
Turkey is the world's biggest importer of scrap iron, but also the biggest exporter of raw iron bars and stranded copper wire.
In 2020 the top importers of Looms were Turkey ($334M), India ($251M), and China ($227M).
Turkey was also the biggest exporter of Hand-Woven Rugs ($2.22B).
With the focus on manufacturing, it makes sense that Turkey would be importing raw materials, recyclable materials, and production machinery.
Third-Party inspection and verification play a big role in both the importing of scrap iron and machinery for a specific manufacturing process. Inspexion.com is the fastest way of booking and reporting of third-party inspections worldwide.
If you are looking to import into Turkey, book an inspection on our platform and see how quick and easy it is to get a third-party verification done.
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