During the last 26 years the exports of Turkey to Australia have increased at an annualized rate of 11.9%, from $54.9M in 1995 to $1.01B in 2021. Based on Turkey Trade Data records of past few years, the major traded items are: • Agricultural products • Minerals and resources • Textiles and apparels • Machinery and equipment

1. WHAT IS THE TRADE BETWEEN TURKEY AND
AUSTRALIA?
ABSTRACT
In the well-integrated world of international trade, countries around the globe
engage in economic partnerships that facilitate the exchange of goods and services.
One such relationship that may not immediately come to mind is that between
Turkey and Australia. Despite their geographical distance, these two nations have
developed a significant trade relationship that spans various sectors. In this blog,
we will investigate the trade between Turkey and Australia, exploring the products,
trends, and factors that drive this bilateral economic partnership.

2. The trade connection among Turkey and Australia goes back quite a few years, with
conciliatory ties laid out in 1967. Over the long haul, the two countries have
supported their financial collaboration, prompting a broadened trade portfolio that
incorporates different ventures.
TURKEY AND AUSTRALIA BILATERAL TRADE TRENDS (2018-2022)
YEAR TURKEY > AUSTRALIA AUSTRALIA > TURKEY
2018 USD 687.10 million USD 1.08 billion
2019 USD 661.15 million USD 1.03 billion
2020 USD 726.89 million USD 406.7 million
2021 USD 971.03 million USD 1.12 billion
2022 USD 965.68 million USD 1.63 billion
TRADE DYNAMICS AND KEY PRODUCTS
The trade between Turkey and Australia is characterized by the exchange of a wide
range of goods. Both nations export and import products that cater to their
respective economic needs and consumer demands.
Bilateral Trade by products the main products exported from Turkey to Australia
were raw iron bars ($90.5M), delivery trucks ($59.2M), and hot-rolled iron bars
($50.4M). During the last 26 years the exports of Turkey to Australia have increased
at an annualized rate of 11.9%, from $54.9M in 1995 to $1.01B in 2021. Based on
Turkey Trade Data records of past few years, the major traded items are:
 Agricultural products
 Minerals and resources
 Textiles and apparels
 Machinery and equipment

3. 1. AGRICULTURAL PRODUCTS
Australia is prestigious for its agricultural items, including grains, meat, dairy, and
wine. These excellent products track down their direction into the Turkish market,
taking care of the requests of its shoppers. On the other hand, Turkey trades items
like dried natural products, nuts, and vegetables to Australia, displaying the variety
of its own farming area.
2. MINERALS AND RESOURCES
Australia is plentiful in mineral assets, like coal, iron metal, and gold. These assets
are profoundly pursued by Turkey's developing enterprises, adding to its energy,
and assembling areas. Turkey, thus, sends out minerals like boron and marble to
Australia, featuring its own mineral riches.
3. TEXTILES AND APPAREL
Turkey has a strong textile and apparel industry, producing textiles, clothing, and
footwear. These products are well-received in the Australian market due to their
quality and competitive pricing. Australia, on the other hand, exports wool and
hides to Turkey, supporting its textile manufacturing sector.
4. MACHINERY AND EQUIPMENT
Machinery and equipment play a crucial role in the trade relationship between
these two countries. Australia's advanced manufacturing capabilities make it an
attractive source of industrial machinery for Turkey. In return, Turkey exports
products like electrical machinery and appliances to Australia.
TRADE TRENDS AND ECONOMIC IMPACT
The trade volume among Turkey and Australia has shown reliable development
throughout the long term, although it might encounter changes because of
worldwide monetary circumstances and changes popular. The two countries have

4. effectively tried to grow their bilateral relations by taking part in exchange fairs,
business assignments, and reciprocal arrangements.
Several factors contribute to the continued growth of trade between Turkey and
Australia:
1. GEOGRAPHICAL COMPLEMENTARITY: While geographically distant, Turkey
and Australia possess resources and industries that complement each other.
This encourages the exchange of products that are not readily available
domestically.
2. DIVERSIFICATION OF MARKETS: Both countries are actively seeking to
diversify their trade partners to reduce reliance on a single market. This drive
for diversification has prompted them to explore new opportunities in less
traditional markets.
3. BILATERAL AGREEMENTS: The two nations have signed bilateral agreements
and Memoranda of Understanding to strengthen their economic ties. These
agreements facilitate trade and investment by addressing tariff barriers and
other trade-related issues.
4. GLOBAL VALUE CHAINS: As global value chains continue to expand, both
Turkey and Australia have found ways to integrate into these networks,
benefiting from each other's strengths and expertise.
CHALLENGES AND OPPORTUNITIES

5. Despite the positive trajectory of their trade relationship, Turkey and Australia face
challenges that impact their trade dynamics. These challenges include differences
in regulations, logistical complexities due to the distance, and competitive
pressures from other trade partners. Additionally, global economic uncertainties
and geopolitical developments can also influence their trade interactions.
However, these challenges also present opportunities for further collaboration:
1. ENHANCED COOPERATION: By addressing regulatory disparities and
streamlining trade procedures, both countries can facilitate smoother trade
flows and encourage more companies to explore cross-border partnerships.
2. INVESTMENT: Mutual investments can strengthen the trade relationship,
allowing companies from both nations to establish a stronger presence in
each other's markets.
3. RESEARCH AND INNOVATION: Collaborative research and innovation
projects can lead to the development of new products and technologies,
boosting trade in high-value sectors.
CONCLUSION
The trade relationship between Turkey and Australia is a testament to the global
nature of modern economies. Despite their geographical separation, these two
nations have managed to create a mutually beneficial trade partnership that spans
various industries. By capitalizing on their strengths, addressing challenges, and
exploring new opportunities, Turkey and Australia can continue to nurture their
trade ties and contribute to each other's economic growth and prosperity.

6. For more trade data information, get in touch with TradeImeX today and get the
most out of our 70+ databases that include Turkey Import Data reports.
Source URL: https://www.atoallinks.com/2023/what-is-the-trade-between-turkey-
and-australia/