Trade Between Turkey and Thailand

Current Data and Trade Volume

Turkey and Thailand are two important countries that have strengthened economic relations in the Asia-Pacific region. In recent years, the trade volume between these two countries has been increasing and cooperation opportunities have been expanding. Both Turkey and Thailand are strengthening their economic dependence on each other and accelerating their cooperation in the fields of trade, investment and technology.

In this article, current information on trade data and trade volume between Turkey and Thailand will be shared. The future of trade relations will be examined, especially through trade volume and import-export figures. Our goal is to clearly present the latest developments in the trade of these two countries and the opportunities that arise for investors.

1. Trade Volume Between Turkey and Thailand: 2023 Current Data

In recent years, the trade volume between Turkey and Thailand has increased significantly. Thailand, as one of the developed economies of Southeast Asia, is a potential partner in Turkey's foreign trade. As of 2023, the trade volume between the two countries is around $2.5 billion. This figure shows that trade is increasing every year and bilateral relations are strengthening.

The trade volume between Turkey and Thailand has shown rapid growth in recent years. While exports from Thailand to Turkey are increasing in particular, Turkish exporters aim to gain a larger share of the Thai market.

2. Turkey's Export to Thailand and Thailand's Export to Turkey Figures

Turkey's Export to Thailand Data:

Turkey exports products from many different sectors to Thailand. Turkey, which has a strong export performance in areas such as machinery and equipment, chemical products, automotive parts and electronic devices, is also one of Thailand's major markets. As of 2023, Turkey's exports to Thailand are around $1.2 billion.

Thailand's Export to Turkey Data:

Thailand exports products to Turkey in many different areas such as agricultural products, textiles and electronic products. Thailand's exports to Turkey are around $1.3 billion. Thailand draws attention in the Turkish market, especially with its white goods and food products.

3. Major Trade Items: Prominent Sectors in Turkey-Thailand Trade

The major sectors that stand out in trade with Thailand reflect the economic strengths of both countries. Here are the important items in trade between Turkey and Thailand:

Prominent Products in Turkey's Exports to Thailand:

• Machinery and equipment: Turkey exports industrial machinery, electrical equipment and automation systems to Thailand.

• Chemicals: Turkey exports products such as plastics, synthetic fibers, petrochemical products and chemicals to Thailand.

• Automotive parts: Turkey's automotive sector exports automotive spare parts and accessories to Thailand.

Prominent Products in Thailand's Exports to Turkey:

• Electronic products: Thailand sends products such as white goods, electronic devices and furniture to Turkey.

• Agricultural and food products: Thailand exports food products such as rice, seafood, tropical fruits and spices.

• Textiles and clothing: Thailand makes a significant contribution to the fashion industry by exporting textile and clothing products to Turkey.

4. Future of Trade: Investment Opportunities Between Turkey and Thailand

Along with the growth in trade volume, investment opportunities between Turkey and Thailand are also increasing. Thailand offers a significant investment opportunity for Turkey with its strong position in the Asia-Pacific region and high-tech industries. In addition, Turkish companies are exploring new business opportunities in the developing electronics, automotive and agricultural sectors in Thailand.

Investment Opportunities in Thailand:

1. Electronics and Technology Sector: Thailand has a strong infrastructure in high-tech and electronics production. Turkey's investments in machinery, automation and electronics can contribute to this sector in Thailand.

2. Automotive and Spare Parts: Thailand is one of the leading automotive manufacturing centers in Asia and offers attractive opportunities for Turkey's investments in automotive parts and battery production.

3. Agriculture and Food Products: Thailand is a strong player in tropical food production and can establish collaborations to contribute to the Turkish agricultural sector.

Investment Opportunities in Turkey:

1. Textiles and Fashion: Thailand's fashion industry is an important market for Turkish textile manufacturers. Thai investors can develop collaborations in Turkey's textile and clothing production.

2. Construction and Real Estate: Thai investors can consider investing in Turkey's rising construction sector and real estate projects. Projects in popular cities such as Istanbul and Antalya in particular offer attractive opportunities for Thai investors.

5. Challenges and Solutions Encountered in Turkey-Thailand Trade

Although the trade volume between Turkey and Thailand is growing, there are also some challenges. These challenges stem from factors such as trade barriers, exchange rate fluctuations and customs procedures. However, both countries are taking various steps to reduce trade barriers and increase cooperation.

• Customs Facilitation: Trade needs to be accelerated by providing easier customs procedures between Turkey and Thailand.

• Export Incentives: Turkey can offer government incentives and support programs to increase exports to Thailand.

• Exchange Rate Risk Management: Exchange rate fluctuations are an important factor that must be managed in order to conduct trade more efficiently.

6. Conclusion: The Future of Trade Between Turkey and Thailand

Trade relations between Turkey and Thailand are gaining momentum every year and both countries benefit from this cooperation. Thailand is an important trading partner for Turkey's trade routes in the Asia-Pacific region. This trade is expected to grow with more cooperation, investment opportunities and innovative projects in areas such as advanced technology and industrial production.

Increasing trade between Thailand and Turkey will increase the potential of both countries in terms of opening up to global markets and developing innovative solutions. Therefore, Thailand offers an important market and investment opportunities for Turkish companies for the business world and investors.

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