GET COMPLETE INSIGHTS ABOUT TURKEY COTTON MARKET IN TEN MINUTES

 GET COMPLETE INSIGHTS ABOUT TURKEY COTTON MARKET IN TEN MINUTES

TURKISH COTTON MARKET OVERVIEW

Turkey was a completely agricultural-based economy in the past. Even now there is a dominance of the agricultural sector in the nation, and it contributes significantly to the country’s economy and GDP which is about 14%. After being a rapidly developed nation in the world, close to 10 million people in Turkey are still engaged in the agricultural sector for their living. The most prominent crops that are grown in Turkey are oil seeds, trailed by cotton, and cereals. Various types of fruits and vegetables are also grown and sold.

Among all the items produced in the agricultural industry, cotton is one of the most important and primary raw materials that is produced in the farms of Turkey. The weather and environmental conditions in Turkey are best suited for cotton cultivation because of which almost all farmers are into cotton production and hence it is the basic source of income for Turkish farmers.

Turkey is estimated to produce almost 1 million tons of cotton every year which has made the nation the 5th biggest cotton-producing country across the globe. As per the present scenario, 300000+ Turkish farmers produce cotton yearly with an average yield of 1310kg/hectare.

HOW MUCH COTTON DOES TURKEY IMPORT AND EXPORT EVERY YEAR?

As per Turkey Trade Data for the last few years, we are here and eager to present the past trends that how much Turkey exported and imported cotton to and from different nations.

TURKEY TRADE DATA (2018-2022)

YEAR

EXPORTS

IMPORTS

REMARKS

2018

USD 1.826 billion

USD 2.508 billion

Trade deficit

2019

USD 1.732 billion

USD 2.629 billion

Trade deficit

2020

USD 1.463 billion

USD 2.543 billion

Trade deficit

2021

USD 2.265 billion

USD 3.714 billion

Trade deficit

2022

USD 2.263 billion

USD 4.842 billion

Trade deficit

 

From the above table, it is very clear that Turkey imports cotton more than it exports as the demand in the country is more than the supply. This is because the market of Turkey is very keen to buy cotton for commercial as well as personal purposes.

TOP 10 COTTON EXPORT PARTNERS OF TURKEY

Moving forward, we are going to see the list of the top 10 countries to whom Turkey exported cotton the most as per Turkey Export Data for the year 2022. Cotton was the 25th most favorite export commodity from Turkey to the globe. The curated list is as follows:

·        Italy (USD 313.31 million)

·        Egypt (USD 169.64 million)

·        Pakistan (USD 159.73 million)

·        Portugal (USD 155.06 million)

·        Germany (USD 143.14 million)

·        Morocco (USD 138.66 million)

·        Tunisia (USD 134.98 million)

·        Spain (USD 99.76 million)

·        Bangladesh (USD 98.02 million)

·        Iran (USD 60.40 million)

Based on the list, Turkey exported its cotton produce mostly to Italy which constituted 13.83% of total cotton exports to the world from Turkey.

TOP 10 COTTON IMPORT PARTNERS OF TURKEY



Cotton is the 13th most favorite imported item in Turkey. Past many years, cotton is added to the best-importing products of Turkey list. Based on the latest Turkey Import Data report for the year 2022, the top 10 nations from whom Turkey imported cotton are listed below:

·        The United States (USD 1.17 billion)

·        Brazil (USD 643.30 million)

·        Uzbekistan (USD 586.42 million)

·        Greece (USD 342.33 million)

·        Australia (USD 259.88 million)

·        Turkmenistan (USD 220.60 million)

·        India (USD 208.89 million)

·        Azerbaijan (USD 203.93 million)

·        Pakistan (USD 198.35 million)

·        Sudan (USD 143.47 million)

As Turkey’s largest import partner, the USA contributed 24.17% of total imports made to Turkey of cotton in the year 2022.

FINAL VERDICT

As the demand for cotton is rising in Turkey, it is also sure that the trade of this item would also rise and grow in the upcoming years. We recommend and share a tip that all marketers and traders across the globe who are interested to collaborate with Turkey for the cotton trade have a good chance to maximize their profits and market space. For more amazing and insightful information and interactive reports, stay in touch with TradeImeX and grab import-export data reports for more than 70 countries at affordable prices.

For More Info –

Turkey Export Data


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