Editing Economy of Turkey (section)

==External trade and investment==
{{See also|Free trade agreements of Turkey}}As of 2016, the main trading partners of Turkey are the European Union, [[Russia]], the [[United Kingdom]], the UAE, Iraq, and China, many being top in both export as well as import.<ref name="TSI_ForeignTrade2012">{{cite web|url=http://rapor.tuik.gov.tr/reports/rwservlet?disticaretdb2=&report=IHT0151.RDF&p_kod=1&p_ulke1=-1&p_yil1=2012&p_kod1=1&p_kod2=4&p_dil=2&desformat=html&ENVID=disticaretEnv|archive-url=https://archive.today/20121221194510/http://rapor.tuik.gov.tr/reports/rwservlet?disticaretdb2=&report=IHT0151.RDF&p_kod=1&p_ulke1=-1&p_yil1=2012&p_kod1=1&p_kod2=4&p_dil=2&desformat=html&ENVID=disticaretEnv|url-status=dead|archive-date=2012-12-21|title=Foreign Trade Statistics as of October 2012|publisher=[[Turkish Statistical Institute]]|access-date=2008-08-29|date=2006-11-30|format=Word document}}</ref> Turkey has taken advantage of a [[European Union–Turkey Customs Union|customs union with the EU]], signed in 1995, to increase industrial production for exports, while benefiting from EU-origin foreign investment into the country.<ref>{{cite web|url=http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/05/03/000016406_20060503112446/Rendered/PDF/wps3908.pdf |title=Turkey's evolving trade integration into Pan-European markets |author=Bartolomiej Kaminski |publisher=World Bank |access-date=2008-08-29 |date=2006-05-01 |url-status=dead |archive-url=https://web.archive.org/web/20070614030216/http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/05/03/000016406_20060503112446/Rendered/PDF/wps3908.pdf |archive-date=2007-06-14 }}</ref> In addition to the European-Turkish Customs Union, the Turkish government has signed [[Free trade agreements of Turkey|free-trade agreements]] with 22 countries.<ref>{{cite web |title=T.C. Ticaret Bakanlığı |url=https://www.ticaret.gov.tr/dis-iliskiler/serbest-ticaret-anlasmalari/yururlukte-bulunan-stalar |website=ticaret.gov.tr |access-date=8 September 2018 |language=tr}}</ref>

A very large aspect of Turkey trade revolves around the automotive industry, where its top exports are cars, accounting for $13.2 billion. Other top exports from the country are gold, delivery trucks, vehicle parts and jewelry, which are respectively, $6.96 billion, $5.04 billion, $4.64 billion, and $3.39 billion. These values are calculated using the 1992 revision of the Harmonized System classification. Comparatively, it imports many of the same industries, such as, gold valued at $17.1 billion, refined petroleum at $9.8 billion, cars at $8.78 billion, vehicle parts at $6.34 billion and scrap iron at $5.84 billion.<ref>{{cite web|url=https://oec.world/en/profile/country/tur/|title=OEC – Turkey (TUR) Exports, Imports, and Trade Partners|website=oec.world|language=en|access-date=2019-09-23}}</ref>

[[Turkish Construction/Contracting Industry|The construction and contracting companies]], such as [[Enka Insaat ve Sanayi A.S.|Enka]], [[Rönesans Holding]] and [[Tekfen Construction and Installation|Tekfen]], have been significant players in the country's economy.<ref>{{Cite web |last=Watch |first=Corporate |date=2021-04-29 |title=ENKA: key facts about the Turkish megacorp behind the Rioni Valley dams |url=https://corporatewatch.org/enka-key-facts-about-the-turkish-megacorp-behind-the-rioni-valley-dams/ |access-date=2024-09-05 |website=Corporate Watch |language=en-GB}}</ref>

Without a [[carbon price]] exporters to the European Union will have to pay the [[EU Carbon Border Adjustment Mechanism]] from 2026,<ref>{{Cite web |title=Turkey balks at coal phaseout amid growing energy woes – Al-Monitor: The Pulse of the Middle East |url=https://www.al-monitor.com/originals/2022/03/turkey-balks-coal-phaseout-amid-growing-energy-woes |access-date=2022-03-09 |website=al-monitor.com |date=4 March 2022 |language=en}}</ref> and in 2024 they started [[Hedge (finance)|hedging]] against this by buying [[EU Allowances]].<ref name="spglobal"/>

Turkey had many improvements in the [[ease of doing business index]]. Its rank increased from 68th in 2017 to 33rd in 2020. As of 2021, it was performing better than countries like the Netherlands and Belgium.<ref>{{Cite web|title=World Bank Group to Discontinue Doing Business Report|url=https://www.worldbank.org/en/news/statement/2021/09/16/world-bank-group-to-discontinue-doing-business-report|access-date=2021-09-16|website=World Bank|language=en}}</ref><ref name=":5">{{Cite news|last=Zumbrun|first=Josh|date=2021-09-16|title=World Bank Cancels Flagship 'Doing Business' Report After Investigation|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/world-bank-cancels-flagship-doing-business-report-after-investigation-11631811663|access-date=2021-09-16|issn=0099-9660}}</ref><ref name=":4">{{Cite web|last1=Machen|first1=Ronald|last2=Jones|first2=Matthew|last3=Varghese|first3=George|last4=Stark|first4=Emily|date=15 September 2021|title=Investigation of Data Irregularities in Doing Business 2018 and Doing Business 2020|url=https://thedocs.worldbank.org/en/doc/84a922cc9273b7b120d49ad3b9e9d3f9-0090012021/original/DB-Investigation-Findings-and-Report-to-the-Board-of-Executive-Directors-September-15-2021.pdf|url-status=live|website=[[World Bank]]|archive-url=https://web.archive.org/web/20210916154554/https://thedocs.worldbank.org/en/doc/84a922cc9273b7b120d49ad3b9e9d3f9-0090012021/original/DB-Investigation-Findings-and-Report-to-the-Board-of-Executive-Directors-September-15-2021.pdf |archive-date=16 September 2021 }}</ref>{{Vague|reason=Multiple sources given, yet they all point out that the 'ease of doing business index' is not reliable|date=May 2024}}

{| class="wikitable"
|+Trade statistics<ref>{{Cite web |title=Goods exports (BoP, current US$) - Turkey |url=https://data.worldbank.org/indicator/BX.GSR.MRCH.CD?locations=TR |access-date=2025-01-26 |website=World Bank Open Data}}</ref><ref>{{Cite web |title=Goods imports (BoP, current US$) - Turkey |url=https://data.worldbank.org/indicator/BM.GSR.MRCH.CD?locations=TR |access-date=2025-01-26 |website=World Bank Open Data}}</ref><ref>{{Cite web |title=Net trade in goods (BoP, current US$) - Turkey |url=https://data.worldbank.org/indicator/BN.GSR.MRCH.CD?locations=TR |access-date=2025-01-26 |website=World Bank Open Data}}</ref>
!Year
!1975
!1980
!1985
!1990
!1995
!2000
!2005
!2010
!2015
!2020
!2023
|-
|Goods exports, billion US$
|1.5
|2.9
|8.3
|13.0
|22.0
|30.9
|78.5
|121.0
|154.9
|168.4
|251.0
|-
|Goods imports, billion US$
|4.5
|7.5
|11.2
|22.5
|35.1
|52.9
|111.4
|177.3
|203.9
|206.3
|337.3
|-
|Net trade, billion US$
|−3.0
|−4.6
|−2.9
|−9.5
|−13.1
|−22.0
|−32.9
|−56.3
|−49.0
|−37.9
|−86.3
|}