Record trade volume between Turkey and the USA

The trade volume between Turkey and the USA reached a record level of 28 billion dollars by the end of 2021.

Although Turkey was adversely affected in terms of foreign trade in the last 2020, when world trade was going through difficult times due to pandemic conditions, it broke export records in 2021.

The year 2021 became a period when Turkey made history in exports as the effects of the epidemic decreased and the economies reopened. During this period, Turkey broke records in foreign sales to the sector and countries.

The USA, which is among the leading countries in Turkey’s exports, is also positioned among the markets where Turkey has reached historical peaks in foreign trade. The demand for Turkish products by the USA, the world’s largest economy, was another point that attracted attention.

According to the data of the US Census Bureau, the bilateral trade volume between Turkey and the United States reached a record level of $28 billion last year. The increase in the trade volume between the two countries exceeded 30 percent. The USA became Turkey’s second largest export market in 2021.

Turkey has a foreign trade surplus of 4 billion dollars to the USA

While Turkey’s exports to the USA constituted 16 billion dollars of the bilateral trade volume, approximately 12 billion dollars was made up of the USA’s exports to Turkey. Turkey has a foreign trade surplus of 4 billion dollars to the USA.

While Turkey’s exports to the USA increased by 44.6% last year compared to 2020, the USA’s exports to Turkey increased by 19.1%. In October last year, Turkey’s exports to the USA reached a record level of 1 billion 459.9 million dollars on a monthly basis. The exports of the USA to Turkey had reached the historical peak of 1 billion 532.8 million dollars in December.

Turkey’s exports to the USA entered 2022 without slowing down

Turkey’s exports to the USA entered 2022 without slowing down. Bilateral trade between Turkey and the USA continued in the same way in the first month of the year.

According to the data of the Turkish Exporters Assembly (TIM); In January, the USA became the second country to which Turkey exports the most, with 1 billion 91 million 247 thousand dollars. The USA became one of the two countries, along with Germany, to which Turkey exported over 1 billion dollars last month. The United States was also recorded as the country with the highest increase in Turkey’s exports in terms of value last month.

Turkey’s exports to the USA increased by 281 million 976 thousand dollars in January compared to the same period of the previous year.

With the ISPA EXPO 2022 Fair, which is planned to be held between 08-10 March and will be attended by 26 companies from Turkey, it is expected that the trade volume between the two countries will increase, especially in the bearing components sector, and Turkey will set a new export record by the end of 2022.