Economy, Foreign Trade

The cost of Turkey’s annual imports is usually much higher than earnings from exports; in 2000 imports totaled $53.5 billion and exports $26.6 billion. The principal exports were textiles, iron and steel, dried fruits, leather garments, tobacco, and petroleum products. Chief imports were machinery, crude petroleum, transportation vehicles, iron and steel, and chemical products. Considerable income is derived from tourism in Turkey; in 2000 some 9.6 million foreigners spent an estimated $7.6 billion in the country. Turkey’s chief trading partners for exports are Germany (accounting for one-quarter of all purchases), the United States, Russia, the United Kingdom, and Italy. Principal sources of imports are Germany, Italy, the United States, France, and the United Kingdom. Turkey is an associate member of the European Union (EU).