BILATERAL TRADE OF ELECTRIC MACHINERY BETWEEN TURKEY AND VIETNAM IS ON A SPARK

                             ELECTRIC MACHINES INDUSTRY OF TURKEY

The electric machines industry is functional in Turkey for an extremely long time now. Various changes and updates that came into effect on a timely basis brought a revolution in this industry and new and better forms of machinery started to come into the picture. Due to far-reaching enhancement and deals, the portion of electric machines in Turkey Trade Data increased by 1.1% in the year 2002 and 3% in 2004 with total exports of USD 1.8 billion.




The range of machines made in Turkey has given an additional edge to this industry. Going from links, wires, and electrical apparatuses, to AC, engines, and transformers, everything is currently produced in Turkey at reasonable costs. In the global scenario, out of all-electric hardware exports, 3% offer is of Turkish items. Today, Turkey exports electric apparatus to just about 179 nations out of whom, Germany is a significant merchant according to Turkey Export Data 2022. Germany is trailed by Iraq, the UK, Russia, France, and finally Iran.

As per official trade reports, we have determined Turkey Export Data for that very year which refers to that in 2021, Turkey traded machines worth USD 112 million across the globe and the main 05 product accomplices of Turkey were:

•          The US (USD 17.72 million)

•          Uzbekistan (USD 11.39 million)

•          Germany (USD 7.50 million)

•          Azerbaijan (USD 5.75 million)

•          Iran (USD 3.79 million)

In a similar way, Turkey likewise keeps up with its different Turkey Import Data that tells that the country imported machines worth USD 351 million from the world in the year 2021. The significant and largest imports were finished from:

•          China (USD 140.01 million)

•          Germany (USD 33.49 million)

•          France (USD 32.62 million)

•          Italy (USD 23.68 million)

•          The US (USD 19.39 million)

ELECTRIC MACHINES INDUSTRY OF VIETNAM

Vietnam is likewise not much behind Turkey in bringing in and trading out electric machines. As indicated by Vietnam Export Data which is extracted from Vietnam Trade Data for the year 2021, it states that Vietnam traded out electric machines worth USD 763 million to the world which made it the fourteenth biggest country to do this. On the off chance that we discuss the significant commodity objections of Vietnam, the rundown of the main 05 nations referenced in Vietnam Product Information 2021 is as per the following:

•          The US (USD 338.01 million)

•          China (USD 124.9 million)

•          South Korea (USD 81.1 million)

•          Japan (USD 75.48 million)

•          Malaysia (USD 25.31 million)

Also, Vietnam imported electric hardware worth USD 1.04 billion as indicated by Vietnam Import Data for the year 2021. This worth limb Vietnam to the sixteenth situation as the biggest merchant of electric hardware on the planet. The main 05 nations from whom Vietnam Imported these machines as referenced in Vietnam Trade Data 2021 were:

•          China (USD 723.01 million)

•          South Korea (USD 111.99 million)

•          Japan (USD 73.52 million)

•          Singapore (USD27.7 million)

•          Thailand (USD 25.90 million)

 

ELECTRIC MACHINES WORTH HOW MUCH ARE TRADED BETWEEN TURKEY AND VIETNAM?

In the wake of seeing the singular commitment of the two countries in the Import Export Data of Electric hardware and machines, presently we will examine the respective exchange between the two nations as to electric machines.

From the perspective of Vietnam, we will grasp bilateral exchange and check the past trend, i.e., comparing the bilateral trade of the year 2021 with that of 2017.

YEAR

TURKEY TO VIETNAM

VIETNAM TO TURKEY

2017

USD 17.15 million

USD 1.06 billion

2021

USD 70.41 million

USD 533.39 million

 

From the previously mentioned table, it is very evident that Vietnam trades more electric hardware than it imports from Turkey. On comparing the trade in the year 2017 with 2021, exports of Turkey as per Turkey Export Data to Vietnam went up by almost 311.76%, whereas exports of Vietnam to Turkey fell by almost 50%. This shows that reliance of Turkey is reducing on Vietnam as it is trying hard to become self-reliant or has got a better trade partner.

FINAL VERDICT

After complete examination and reports, obviously, the two countries are effectively in the race of exporting and importing electric apparatus and machinery. According to our evaluations, as the world is changing and new innovations are coming up, the working of electric hardware will be changing sooner rather than later, and consequently, exchange will likewise take a jump and develop. We recommend new brokers and advertisers form their systems likewise and begin dealing with the Turkish market.

GET IN TOUCH WITH US FOR MORE DETAILS

If you want further analysis and the best advice about the Philippines Export Data or Import Export Data or Global Trade Data of any country, then get in touch with TradeImeX® Info Solution Pvt Ltd. We are the market leaders who provide accurate and reliable trade data from more than 70 countries like the Turkey Trade Data and also sell customized databases to our customers that are highly designed as per each customer’s needs and preferences.

For more information, connect with us over the mail at info@tradeimex.in or simply visit our website.    

For more info –

Turkey Import Data

 

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