Türkiye’s exports to EU rise 3.1% in 2024, comprising 42% of total exports

Türkiye’s exports from January to September 2024 increased by 3.2% year-on-year, reaching $192.8 billion, according to data from the Turkish Exporters Assembly (TIM).

Of this total, 42% was directed to the European Union, reflecting the bloc’s continued importance as Türkiye’s main export destination.

EU exports rise despite economic challenges

Mustafa Gultepe, head of TIM, stated that Türkiye’s exports to the EU reached $80.4 billion in the first nine months of 2024, a 3.1% increase compared to the same period last year.

Despite this growth, Gultepe noted that the performance was below expectations, citing global competition challenges and restrictive monetary policies within the EU that have contributed to a slowdown in demand.

“There is war both to our south and to our north. Weak demand in the European Union, especially the fear of recession in Germany, our biggest market, has a negative impact on our exports. But the main problem is that we are losing our competitiveness,” Gultepe said.

Germany leads as Türkiye’s top EU trade partner

Mustafa Gultepe reported that the countries with the highest exports were Germany, the United Kingdom, the United States, Iraq and Italy. He added that they recorded an export increase of more than 50% in 42 countries and more than 10% in 87 countries.

Germany remained Türkiye’s largest export market within the EU, although exports to the country fell by 3.7% to $15.3 billion. Other key EU markets include:

• Italy – $9.4 billion
• Spain – $7.4 billion
• France – $7.2 billion
• The Netherlands – $6.4 billion

Among these, the Netherlands saw the largest export increase, with a rise of $736 million.

Steel sector sees biggest growth

Exports to the EU increased in the first nine months of the year, primarily driven by a $1.2 billion surge in steel exports, which reached a total of $5.1 billion. Other sectors that also experienced significant growth include chemicals, automotive, and hazelnut products.

Automotive remained Türkiye’s largest export sector to the EU, generating $18 billion in revenue.

Declines in key sectors

Despite the positive overall performance, some sectors experienced declines. Olive and olive oil exports plummeted by 39.5% to $226.7 million. The leather sector also saw a drop, falling from $555.2 million to $476.5 million.

The apparel and textile sector, a traditionally strong performer, also contracted slightly from $8.9 billion to $8.4 billion.