Turkey

Turkey ranked No. 30 in total trade value through June with a total of $10.69 billion. Exports totaled $5.47 billion and Imports totaled $5.22 billion, a surplus of $248.7 million.

U.S. trade with Turkey rose to $10.69 billion through June

Turkey’s trade with the United States rose to $10.69 billion through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 5.77 percent above its total trade during the same time period last year. U.S. exports to Turkey increased 10.21 percent while U.S. imports from Turkey rose 1.5 percent. The U.S. surplus with Turkey was $248.7 million.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Newark; No. 2 John F. Kennedy International Airport; No. 3 Port of Everett, Wash.; No. 4 Port of Houston; and No. 5 Port of Savannah, Ga.. During the same period the previous year, the top five were No. 1 Port of Newark; No. 2 Port of Houston; No. 3 John F. Kennedy International Airport; No. 4 Port of Savannah, Ga. and No. 5 Port of Virginia. In the current time period, the top five accounted for 50.35 percent of Turkey’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Newark fell 11.02 percent to $1.33 billion.
    Exports fell 35.4 percent to $178.97 million. Imports fell 5.49 percent to $1.15 billion.
  • Trade with No. 2 John F. Kennedy International Airport rose 33.49 percent to $1.16 billion.
    Exports fell 21.37 percent to $381.54 million. Imports rose 103.29 percent to $775.15 million.
  • Trade with No. 3 Port of Everett, Wash. rose 594.42 percent to $1.1 billion.
    Exports rose 594.42 percent to $1.1 billion. There were no imports.
  • Trade with No. 4 Port of Houston fell 5.84 percent to $907.82 million.
    Exports fell 15.47 percent to $496.96 million. Imports rose 9.2 percent to $410.87 million.
  • Trade with No. 5 Port of Savannah, Ga. rose 2.9 percent to $877.9 million.
    Exports rose 5.21 percent to $423.06 million. Imports rose 0.84 percent to $454.84 million.

Turkey ranked No. 30 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 32.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Turkey by value through June were the categories of Civilian aircraft, parts; LNG, other petroleum gases; Scrap iron, steel; Cotton; and Coal, briquettes, respectively. They accounted for 56.04 percent of total exports to Turkey.

The value of the top five categories of U.S. imports from Turkey –– Articles with precious metals; Carpets & Oth Text Floor Cover, Woven, No Tuf 5702; Passenger vehicles; Returned exports, without change; and Misc. aircraft parts –– accounted for 24.59 percent of all inbound shipments.

Looking more closely at U.S. exports to Turkey:

  • Civilian aircraft, parts rose 50.22 percent compared to last year to $1.47 billion.
  • LNG, other petroleum gases rose 129.9 percent compared to last year to $518.65 million.
  • Scrap iron, steel fell 5.52 percent compared to last year to $479.91 million.
  • Cotton fell 8.47 percent compared to last year to $426.24 million.
  • Coal, briquettes rose 85.66 percent compared to last year to $170.47 million.

Looking more closely at U.S. imports from Turkey:

  • Articles with precious metals rose 240863 percent compared to last year to $440.16 million.
  • Carpets & Oth Text Floor Cover, Woven, No Tuf 5702 rose 14.29 percent compared to last year to $343.82 million.
  • Passenger vehicles fell 31.33 percent compared to last year to $182.13 million.
  • Returned exports, without change fell 12.73 percent compared to last year to $159.14 million.
  • Misc. aircraft parts fell 11.14 percent compared to last year to $158.24 million.

In the latest annual figures available, Turkey recorded $20.69 billion in trade with the United States. Total U.S. exports to Turkey were $ 10.04 billion and imports from Turkey were $10.64 billion. The U.S. deficit with Turkey was $598.92 million.