The main articles are:
2024
Turkey is the third largest energy consumer from Russia
Turkey continues to purchase oil in Russia
Turkey's reduced exports to Russia due to US pressure
Despite the reduction in direct exports to Russia, Turkey remains a major transshipment point for Western goods heading to the Russian Federation.
2023
Trade turnover of Russia and Turkey for the year decreased by 17% to $57 billion
At the end of 2023, trade between Russia and Turkey decreased by 17% compared to 2022, amounting to about $57 billion. This became known in February 2024 from the data of the Turkish statistical service.
According to the information provided, Russia's exports to Turkey reached $46 billion, while imports of Turkish goods to Russia amounted to $11 billion. Despite the general decline in trade turnover, the structure of trade between the two countries has retained its key features.
The main items of Russian exports to Turkey in 2023 were energy resources. Supplies of petroleum products are estimated at almost $11 billion. Pipeline natural gas, according to the International Energy Agency, was exported worth about $7.6 billion. In addition, iron and steel ($3.1 billion), coal ($2.9 billion), and wheat ($2.4 billion) took a significant share in exports.
In turn, Turkey supplied mainly agricultural and mechanical engineering products to Russia. The leading position in Turkish exports was taken by citrus fruits, the volume of supplies of which reached $426 million. Auto parts ($404 million) and trailers ($275 million) also accounted for a significant share.
In addition, copper ($1.7 billion) and aluminum ($1.3 billion) took a noticeable place in the structure of Russian exports to Turkey. Other significant Turkish exports to Russia include oil oils ($227 million), stone fruits such as apricots, plums and cherries ($226 million), and fish ($220 million).
It is worth noting that Turkey does not officially disclose data on gas and oil purchases. However, based on information from the International Energy Agency and Turkish statistics, in 2023 Turkey acquired hydrocarbons from Russia, mainly oil and LNG, worth about $6.85 billion, in addition to the already mentioned pipeline gas supplies.[1]
Russia remained in first place in the supply of agricultural products to Turkey
At the end of 2023, Russia retained the position of the largest exporter of agricultural products to Turkey. This was announced in April 2024 at the Agroexport federal center, whose analysts refer to the ITC Trade Map service.
In 2023, Turkey purchased products of the agro-industrial complex abroad for more than $24 billion. Almost 22% came from supplies from Russia. The share of Ukraine (second place among the largest agro-industrial complex exporters) was 13%, the share of Brazil - 9%.
It is noted that in 2023 Russia became the leader among exporters of wheat ($2.7 billion), corn ($471 million) and peas ($89 million) to the Turkish market. Agroexport adds that by the end of 2023, the Russian Federation is in the top 3 suppliers of vegetable oils ($516 million) to Turkey.
Earlier, Agroexport predicted that the potential for an increase in the supply of agricultural products from Russia to Turkey by 2030 would exceed $4 billion. The key products can be cereals (corn, barley, wheat), leguminous vegetables (dried lentils, beans, chickpeas). The products of deep processing, in particular, baby food, which is in demand on the Turkish market, but practically not supplied from Russia, also have high potential, according to the center.
 | Traditionally, Russia is for Turkey the main supplier of sunflower oil and raw materials for its production. The introduction of duties on the export of sunflower from Russia forced Turkey to increase purchases of sunflower oil: if earlier oil was imported mainly for re-export, and sunflower seeds - for processing and use on the domestic market, now oil is being purchased for re-export and for the domestic market, - explained independent expert Ilya Ilyushin, to whom Agroexport refers[2] |  |
The share of the ruble in Turkey's foreign trade doubled
In 2023, the total volume of ruble settlements in Turkish trade amounted to approximately $1.19 billion (in dollar terms), of which $714 million was exported, $474 million was imported. At the same time, the share of the Russian currency in Turkish trade on an annualized basis doubled, reaching 0.19%. A year earlier, this figure was about 0.1%. Such data at the end of January 2024 was published by the Turkish government agency TurkStat.
It is noted that in 2023, Turkish exports in Russian currency increased 1.8 times compared to the previous year, and imports - 2.2 times. The share of ruble operations in foreign in to trade Turkey 2023 turned out to be the highest in ten years. The previous maximum value was recorded in 2014, when the volume of ruble settlements in Turkish trade was estimated at 0.12%.
However, according to the study, the share of reserve currencies - the dollar, euro, British pounds and yen - in Turkish trade decreased year-on-year from 95.7% to 93.4%. Among the rest, the country's national currency, the lira (5.6%), and the UAE dirhams (0.31%) were most often used.
According to TurkStat, in 2023 Russia became Turkey's largest import trading partner with an indicator of $45.6 billion. Next come China with $44.98 billion, Germany with $28.68 billion, Switzerland with $19.9 and the United States with $15.78 billion. The share of the first five countries in the total volume of imports in 2023 amounted to 42.8%. At the same time, Germany became the main export partner country for Turkey in 2023, providing $21.92 billion. Then in the ranking are the United States with $14.83 billion, Iraq with $12.79 billion, Britain with $12.47 billion and Italy with $12.38 billion. The share of the first five countries in the total volume of annual exports amounted to 28.8%.[3]
Russia delivered a record volume of coal to Turkey - 27.5 million tons
At the end of 2023, the total supply of Russian thermal coal to Turkey soared by 46% compared to the previous year and amounted to 27.5 million tons. This is evidenced by data from the Turkish Statistical Institute (TUIK). Read more here.
Turkey has sharply increased imports of oil and oil products from Russia for their resale to EU countries
Russia sharply increased LNG supplies to India and Turkey
The export of Russian liquefied natural gas (LNG) to Turkey in 2023 increased 1.4 times compared to 2022 and reached 814,000 tons. Supplies to India increased 1.5 times to 432,000 tons. Kpler analysts presented such data in mid-January 2024. Read more here.
Russia leads cherry, peach and nectarine purchases in Turkey
In 2022/2023, Russia purchased Turkey the most cherries, peaches and nectarines from the agricultural year - about 25.17 thousand tons against 23.12 thousand tons a year earlier. This is evidenced by the data of the review of the Foreign Agrarian Service (FAS) of the Ministry, agriculture USA published in August 2023.
According to Interfax, citing the results of this study, the share of Russian purchases exceeded 40% of the total export of cherries, peaches and nectarines from Turkey, which in 2022/2023 amounted to 57.915 thousand tons (70.948 thousand tons a year earlier).
Turkey is one of the largest exporters of stone fruits in the world, annually exporting more than 250 thousand tons, most of which are sent to the EU countries and Russia. Judging by the study released in August 2023, in recent years, Turkish exporters have also been looking for opportunities to sell stone fruits (for example, cherries) in the Far East, in particular in South Korea.
Turkey has increased its cherry exports to the Russian and EU markets. In addition to Russia, Germany (15,343 tons) and Iraq (7,813 tons) were the main export destinations for Turkish cherries in the 2022/23 season. According to forecasts of the US Ministry of Agriculture, in the 2023/24 season, the export of fresh peaches and nectarines from Turkey will amount to 200 thousand tons, which is primarily due to the high level of production. Exports of fresh peaches and nectarines from Turkey increased by 94% compared to the seasonal 2019/20 (to 204,211 tons in the 2022/23 season). The shift to modern cultivation methods has improved the quality of peaches and nectarines, leading to an increase in exports over the past ten years. The main destination countries for Turkish peaches and nectarines in the 2022/23 season will be Russia (153,352 tons), Iraq (14,841 tons) and Syria (6,944 tons).[4]
Turkey will buy amphibious aircraft from Russia
In mid-July 2023, Turkish President Recep Tayyip Erdogan announced his desire to buy planes from Russia to extinguish forest fires. It is known that the Be-200 amphibious aircraft used by the Russian Emergencies Ministry have repeatedly extinguished fires in Turkey. Read more here.
Continued trade growth in May
IIF chief economist Robin Brooks: Turkey's trade with Russia increased significantly in May 2023. Imports increased even compared to 2022. Since energy prices have declined, this means an increase in imports from Russia to Turkey. Turkey's exports to Russia also increased significantly compared to the period before the outbreak of the conflict in Ukraine.
Growth in imports from Turkey continues in April
Diesel re-export from Russia to Europe amid conflict in Ukraine
The increase in diesel fuel from Russia to Turkey and Morocco in January 2023 already gave an idea of how this market will work bypassing the EU ban on imports from Russia from February 2023.
Turkey has taken the most Russian diesel since at least early 2016. January deliveries of 2023 could be the second largest ever.
Diesel supplies to Turkey from Russia reached their highest level in seven years in March - more than 10 million barrels, up nearly 50% from February and enough to meet the country's demand for at least a couple of weeks.
Russia overtook China and Germany in terms of exports to Turkey in the first two months
In two months of 2023, Russia overtook China and Germany in terms of exports to Turkey and took first place in this indicator - the foreign trade indicators of the Institute of Statistics of Turkey.
Growth of imports from Turkey to Russia by 2.5 times to $1.04 billion in January
In January 2023, Turkey increased exports to Russia by 2.5 times compared to January 2022 to $1.04 billion. Tazabek
2022
Turkey is Russia's No. 2 trading partner after China
FCS of Russia: The main trading partners of our country in 2022 were China, Turkey, the Netherlands, Germany and Belarus.
At the same time, trade with China increased by 28%, with Turkey - by 84%,
Exports of goods from Turkey to Russia in October increased 1.9 times to $1.15 billion due to re-export from the EU
Exports of goods from Turkey to Russia in October 2022 amounted to $1.15 billion - the same as in September. This is a record level (it is 1.9 times more than in October last year).
According to the French newspaper Le Monde, a significant amount of goods going from Turkey to Russia is re-export. Cargo from various countries is unloaded in the ports of Mersin, Istanbul and Izmir, then placed in containers and sent by sea to Novorossiysk or transported by truck to Russia through Georgia.
Russia accounts for 40% of gas supplies to Turkey
The rise of trade with Turkey is 2 times in 9 months
In January-September 2022, the trade turnover of Russia and Turkey amounted to $47 billion, which is 2 times more than in the first nine months of 2021.
Russian exports to Turkey are breaking new records in 2022.
This is due to both high prices for energy resources, agricultural products, metals, and the fact that Turkey it probably acts as a trader of Russian export goods to countries. EU
Turkey in July 2022 set an absolute record for the export of goods to Russia in one month, its volume amounted to more than $738 million - the Assembly of Exporters of Turkey.
The volume of Turkish exports to Russia in August again turned out to be a record - $949 million. This is twice as much as in August 2021 and 27% more than in the previous month ($729 million). Russia came in fifth among the largest destinations for Turkish exports, overtaking Italy.
Turkey in September 2022 set a new record for exports to Russia - $1.1 billion. This is 27% more than a month earlier: in August, exports amounted to $949 million. In September 2021, according to the FCS, exports from Turkey to Russia amounted to about $502 million, in 2022 exports more than doubled.
Turkey caught up with Germany in sales of goods to Russia. Turkey may come in third place in terms of exports to Russia. Compared to the pre-sanction period, the import of goods from Turkey increased almost 2.4 times.
The main articles of Turkish agroexport to Russia are tangerines, peaches and trout. Supplies to Russia from Turkey of beans (especially lentils) and vegetable oils - olive, cotton, hazelnut, sesame, almond, hazelnut - have sharply increased.
2021: Trade turnover between Russia and Turkey amounted to $33 billion
Trade turnover between Russia and Turkey in 2021 amounted to $33 billion. Imports to Russia from Turkey increased to $6.5 billion.
2020: Russian imports from Turkey rise 2.7% to $5.11 billion
Imports to Russia from Turkey in 2020 - $5.11 billion (an increase of 2.7%).
2019: Lower trade with Russia relative to 2014
Notes
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |