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Bilateral Trade: Turkey and China

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  • Yusuf Tuna

    () (Department of Economics, Istanbul Commerce University, Istanbul – Turkey)

  • Yunus Ozcan

    (Department of Economics, Istanbul Commerce University, Istanbul – Turkey)

Abstract

In 2014, Turkey was the 18th largest economy in the world while China was the second one in terms of GDP at current prices. For the merchandise trade, in the same year China was the world’s largest exporter and the second biggest importer meanwhile Turkey was the 31st exporter and the 21st importer country. In the first half of 2015, in the sense of import China became the biggest trade partner for Turkish economy. This study aims to reveal the mutual foreign trade developments between Turkey and China from 1990 to the first half of 2015. Data were mainly provided by TUIK and Oxford Economics. According to the results of the analysis, between Turkey and China the annual average export and import value was 885 million and 7.33 billion USD, respectively. In this bilateral trade, there is a trade imbalance which is in favor of the Chinese economy. From 1990 to 2014, between Turkey and China, the annual growth rates of the export of goods and services were respectively 7.56% and 14.98%. For the import, annual growth rates were 9.49% and 13.88%. Turkey’s annual average foreign trade volume was 46.55% of GDP while China’s was 42.08%. From 1990 to 2014, the total trade volume between Turkey and China increased by 98 fold from $283 million to $27.8 billion.

Suggested Citation

  • Yusuf Tuna & Yunus Ozcan, 2015. "Bilateral Trade: Turkey and China," The Journal of European Theoretical and Applied Studies, The Center for European Studies at Kirklareli University - Turkey, vol. 3(2), pages 57-73.
  • Handle: RePEc:kir:journl:v:3:y:2015:i:2:p:57-73
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    References listed on IDEAS

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    1. Shahbaz, Muhammad & Khan, Saleheen & Tahir, Mohammad Iqbal, 2013. "The dynamic links between energy consumption, economic growth, financial development and trade in China: Fresh evidence from multivariate framework analysis," Energy Economics, Elsevier, vol. 40(C), pages 8-21.
    2. Xing, Yuqing, 2012. "Processing trade, exchange rates and China's bilateral trade balances," Journal of Asian Economics, Elsevier, vol. 23(5), pages 540-547.
    3. Branstetter, Lee G. & Feenstra, Robert C., 2002. "Trade and foreign direct investment in China: a political economy approach," Journal of International Economics, Elsevier, vol. 58(2), pages 335-358, December.
    4. Barry Naughton, 2007. "The Chinese Economy: Transitions and Growth," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262640643, March.
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