Bilateral Trade: Turkey and China

Yusuf Tuna () and Yunus Ozcan
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Yusuf Tuna: Department of Economics, Istanbul Commerce University, Istanbul – Turkey
Yunus Ozcan: Department of Economics, Istanbul Commerce University, Istanbul – Turkey

The Journal of European Theoretical and Applied Studies, 2015, vol. 3, issue 2, 57-73

Abstract: In 2014, Turkey was the 18th largest economy in the world while China was the second one in terms of GDP at current prices. For the merchandise trade, in the same year China was the world’s largest exporter and the second biggest importer meanwhile Turkey was the 31st exporter and the 21st importer country. In the first half of 2015, in the sense of import China became the biggest trade partner for Turkish economy. This study aims to reveal the mutual foreign trade developments between Turkey and China from 1990 to the first half of 2015. Data were mainly provided by TUIK and Oxford Economics. According to the results of the analysis, between Turkey and China the annual average export and import value was 885 million and 7.33 billion USD, respectively. In this bilateral trade, there is a trade imbalance which is in favor of the Chinese economy. From 1990 to 2014, between Turkey and China, the annual growth rates of the export of goods and services were respectively 7.56% and 14.98%. For the import, annual growth rates were 9.49% and 13.88%. Turkey’s annual average foreign trade volume was 46.55% of GDP while China’s was 42.08%. From 1990 to 2014, the total trade volume between Turkey and China increased by 98 fold from $283 million to $27.8 billion.

Date: 2015
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