Turkey's foreign trade with the euro approached $1 trillion in approximately 5 years
Turkey's exports with the euro totaled $528.2 billion in approximately 5 years, while its imports were $434.1 billion, and during this period, the trade volume with the said currency reached the level of $1 trillion.
The euro, which is used as the official currency by 20 of the 27 member states of the European Union (EU), came into effect as "book-entry" on January 1, 1999.
This currency, which was put into circulation in daily life after a three-year transition process, was launched as banknotes and coins on January 1, 2002, and began to be used in daily transactions.
The euro, which is currently used by Germany, Austria, Belgium, Estonia, Finland, France, the Netherlands, Ireland, Spain, Italy, the Greek Cypriot Administration of Southern Cyprus (GCA), Latvia, Lithuania, Luxembourg, Malta, Portugal, Slovakia, Slovenia, Greece, and Croatia, has now left 26 years behind it.
Turkey, which attaches special importance to trade with other currencies as well as the Turkish lira, has seen a noticeable increase in its trade with other currencies, especially the dollar and euro, over the years.
Trade volume with the euro was $221.7 billion last year
According to Turkish Statistical Institute (TÜİK) data, in 2020, when the Covid-19 pandemic was effective, the country's exports with the euro were recorded as $80.8 billion, and imports were $68.8 billion. In the said year, the trade volume with the euro was calculated as $149.6 billion.
Exports with the euro increased to $103.7 billion in 2021, and imports increased to $78.8 billion, and during this period, the trade volume in the said currency was $182.5 billion.
Turkey achieved $113.7 billion in exports with the euro in 2022, while the import amount increased to $88.1 billion. Thus, the trade volume with this currency in the said period reached $201.8 billion.
Trade with the euro gained momentum in 2023. In the said period, exports of $117.8 billion and imports of $103.9 billion were realized with this currency. The country's trade volume with the euro reached $221.7 billion in 2023.
Total trade with the euro has approached $1 trillion in the last 5 years
Exports with the euro were $112.2 billion, and imports were $94.6 billion in the 11 months of 2024. The trade volume was recorded as $206.8 billion in the same period.
Thus, Turkey's exports with the euro amounted to $528.2 billion in approximately 5 years, and its imports amounted to $434.1 billion. During this period, the total trade volume with the euro reached $962.3 billion.
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