Turkey’s Exports to G-20 Nations Surge by Nearly 37% Over Five Years

Turkey’s exports to G-20 countries have witnessed a remarkable increase of nearly 37% from 2019 to 2023, nearing a total value of $100 billion, according to recent data compiled by Anadolu University (AA). This surge underscores Turkey’s growing influence in the global economy, with the G-20 countries collectively representing about 85% of global GDP and 75% of international trade.

The G-20, consisting of 19 member countries plus the European Union, is currently chaired by Brazil, which is hosting the G-20 Leaders Summit. President Recep Tayyip Erdogan, who attended the summit, expressed Turkey’s ambition to contribute to global economic stability through enhanced cooperation. The data highlighted a consistent rise in Turkey’s exports to G-20 member nations over the past five years.

In 2019, Turkey’s exports to G-20 nations amounted to $71.2 billion. The COVID-19 pandemic in 2020 caused a temporary decline, with exports falling to $68.8 billion. A recovery followed in 2021 as exports climbed to $86.8 billion. By 2022, exports reached $97.3 billion, and in 2023, they remained strong at $97.2 billion, marking an overall increase of 37% from 2019 levels.

Among G-20 nations, Germany, the United States, and the United Kingdom stood out as Turkey’s top export markets:

• Germany: Exports increased by 27%, reaching $21.1 billion in 2023.
• United States: Exports surged by 66%, growing from $9 billion in 2019 to $14.9 billion in 2023.
• United Kingdom: Exports rose by 10%, totaling $12.5 billion in 2023.

In contrast, Turkey experienced a decline in exports to Saudi Arabia and Argentina during this period.

Turkey’s export data from 2019 to 2023 also revealed notable growth in several key markets:

• Italy: Exports expanded from $9.8 billion in 2019 to $12.4 billion in 2023, a 27% increase.
• Russia: Exports experienced significant growth, rising from $4.2 billion in 2019 to $10.9 billion in 2023, a 163% surge.
• France: Exports grew by 29%, from $7.9 billion in 2019 to $10.3 billion in 2023.
• China: Exports increased by 21%, from $2.7 billion in 2019 to $3.3 billion in 2023.

These figures highlight Turkey’s expanding reach in the global market, particularly among major economies, despite challenges posed by the pandemic and shifting global trade dynamics.

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