 Doing Business in Turkey
Economic reforms carried out during the last two decades, both the volume and composition of the Turkish trade have radically changed. In the process, the volume of Turkish exports has increased more than 20 times.
This trend seems to be continuing when looked at the following data: In 2006, total foreign trade volume was around USD 230 billion. It is expected that trade volume may reach USD 300 billion by the end of 2007.
As of October 2007, export was USD 86 billion, and import was USD 137 billion. Compared to the same period of previous year there has been an increase by 20.5% in export, and 20.9% in import. Trade deficit reached USD 50 billion.
Moreover, while Turkish exports had mainly been composed of agricultural products in the 1980s, manufactured goods now constitute around 90% of Turkish exports, indicating the structural transformation of the Turkish economy. Textiles still being the predominant sector, export products have been diversified to include iron and steel, glass and ceramic ware, leather and leather products, household appliances and vehicles and vehicle spare parts.
The main principles of Turkish import policy are the reduction of bureaucratic procedures in compliance with GATT94 rules and the securing of supply of raw materials and inter-mediary goods at suitable prices with certain quality standards.
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