Start Your Export Import Business in Turkey
Turkey’s 2025 strategic position bridging Europe and Asia has solidified its role as a pivotal hub to Start Export Import Business in Turkey for international trade.
As of 2025, the nation continues to offer lucrative opportunities for entrepreneurs aiming to establish export-import ventures. This article provides an updated guide on initiating and managing such businesses in Turkey, incorporating recent data and trends.
Understanding Export Import Business in Turkey Landscape (2023-2025)
Between 2023 and 2024, Turkey’s export figures experienced a 2.5% increase, reaching approximately $262 billion (₹21.7 lakh crore).
Imports, on the other hand, saw a 4.9% decrease, totaling around $344 billion (₹28.5 lakh crore) in 2024.
This shift led to a reduction in the trade deficit by $24 billion (₹1.99 lakh crore), bringing it down to $82.2 billion (₹6.8 lakh crore) import ratio improved to 76.1% in 2024, up from 50% in 2002, highlighting Turkey’s progress in trade policies.
Key Export Sectors
In 2024, Turkey’s top export commodities included:
- Vehicles and Automotive Parts: $29.46 billion (₹2.44 lakh crore)
- Machinery and Mechanical Appliances: $22.35 billion (₹1.85 lakh crore)
- Textiles and Apparel: $17.15 billion (₹1.42 lakh crore)
- Electrical Machinery and Equipment: $11.45 billion (₹95,000 crore)
- Iron and Steel Products: $10.5 billion (₹87,000 crore)
These sectors collectively contribute significantly to Turkey’s export economy
Steps to Establish an Export Import Business in Turkey
Market Research and Product Selection
- Identify Potential Markets: Analyze global demand for products and assess how Turkish goods can meet these needs.
- Select Products: Focus on sectors where Turkey has a competitive advantage, such as textiles, automotive parts, or machinery.
Develop a Comprehensive Business Plan
- Market Entry Strategy: Determine whether to establish a physical presence in Turkey or operate through partnerships.
- Financial Planning: Outline investment requirements, projected expenses, and revenue forecasts.
Legal Formalities and Registrations
- Company Registration: Register your business with the Turkish Trade Registry.
- Obtain Necessary Licenses: Depending on the product category, secure relevant export or import licenses.
Establish Supply Chain and Logistics
- Supplier Identification: Source reliable local manufacturers or producers.
- Logistics Planning: Arrange for warehousing, transportation, and distribution channels.
Compliance and Documentation
- Customs Regulations: Ensure adherence to Turkish customs laws and international trade agreements.
- Documentation: Prepare necessary documents such as invoices, certificates of origin, and quality certificates.
Marketing and Networking
- Trade Fairs and Exhibitions: Participate in events to showcase products and connect with potential clients.
- Digital Presence: Utilize online platforms to reach a broader audience.
Recent Developments and Impact on Export Import Business in Turkey
- Energy Sector Expansion: In September 2024, Turkey signed a 10-year LNG agreement with Total Energies, enhancing its energy export capabilities and supply diversity
- Trade Relations: As of November 2024, Turkey anticipated favorable adjustments in tariffs on its steel and textile exports to the U.S., potentially boosting these sectors
Conclusion
Initiating export-import business in Turkey offers substantial potential, given the country’s strategic location and evolving trade dynamics. By staying informed about market trends, adhering to legal requirements, and leveraging Turkey’s robust infrastructure, entrepreneurs can position themselves for success in the international trade arena.
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💹 India’s Largest Trade Hub.📍 Navi Mumbai, Vashi, India. ( Pan India Network )
