MAJOR EXPORTING AND IMPORTING PRODUCTS OF TURKEY TO AND FROM THE PHILIPPINES – 2022


OVERVIEW

Today, under this blog post, we are going to list the top import as well as export products from Vietnam and the Philippines with respect to each other. First, we are going to see the market size of those products in their respective country, and following this, we will try to compare the Imports and exports of those goods to another country by observing the last five years’ trends.

WHAT TURKEY EXPORTS TO THE PHILIPPINES THE MOST?

Starting with Turkey, based on Turkey Export Data 2022, the largest exports to the Philippines in that year were Aircraft, spaceships, and their respective spare parts. As the Philippines is on its way to expanding its defense and military strength, Turkey understood the underlying situation and exported aircraft to the Philippines.

The defense sector of Turkey is quite big and plays a major role in taking the economy of the country forward. Being the 3rd biggest spender in the defense and aircraft sector in the year 2022, Turkey exported the same to the Philippines worth USD 152.04 million.

If we go further deep into the major exports from Turkey to the Philippines in 2022, then we reach the conclusion that Turkey Export Data also mentions that Turkey exported mechanical tools like nuclear reactors and boilers after aircraft to the Philippines worth USD 24.83 million. The past 5 years’ trend is as follows:




EXPORTS OF MACHINERY FROM TURKEY TO THE PHILIPPINES (2018-22)

YEAR

2018

2019

2020

2021

2022

VALUE

USD 16.05M

USD 15.86M

USD 15.01M

USD 16.98M

USD 24.83M

 

A clear spike is seen from 2020 to 2022 as the markets reopened after a long lockdown period which affected trade in the years 2019 and 2020.

 

 

WHAT PHILIPPINES EXPORTS THE MOST TO TURKEY?

After seeing that major export product from Turkey to the Philippines, now let’s head towards the major export product from the Philippines to Turkey in the year 2022 followed by its past 5 years’ trend.

From all exports of the Philippines to Turkey, according to the Philippines Export Data for the year 2022, the major export was of electrical machines and their spare parts, like TV, sound recorders, etc. which was worth USD 102.66 million. The electrical machines market of the Philippines is quite big and is expanding at a rapid pace currently.

The past 5 years’ trend with respect to exports to Turkey from the Philippines as per the Philippines Export Data is:

EXPORTS OF ELEC. MACHINES FROM THE PHILIPPINES TO TURKEY (2018-22)

YEAR

2018

2019

2020

2021

2022

VALUE

USD 45.59M

USD 53.79M

USD 49.14M

USD 66.97M

USD 102.6M

 

Just like Turkey Trade data for the year 2019-2020, the Philippines Trade Data also experienced a decline in exports from 2019-20 due to the global restrictions and lockdown.

CONCLUSION

In the end, we would just like to add that the trade relations and bilateral trade between Turkey and the Philippines are very strong and frequent. Despite being hit by the pandemic, the trade between the two countries recovered again and now creating new records every year. The Philippines Import Data and Turkey Import Data are also experiencing similar growth in recent years.

PRO TIP

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For More Info-

Philippines Import Data

Turkey Trade Data

 

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