Turkey has the world's 17th largest GDP. The country is among the founding members of the OECD and the G-20 major economies. Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries are rising in importance and have surpassed textiles within Turkey's export mix.
Turkey has a sizable automotive industry, which produced over a million motor vehicles in 2012, ranking as the 17th largest producer in the world. Turkish shipbuilding exports were worth US$1.2 billion in 2011. The major export markets are Malta, Marshall Islands, Panama and the United Kingdom.
Other key sectors of the Turkish economy are banking, construction, home appliances, electronics, textiles, oil refining, petrochemical products, food, mining, iron and steel, and machine industry.
Turkey major exports are textiles, clothing, cars, iron and steel, refined petroleum, raw iron bars, vehicle parts, delivery trucks, chemicals and pharmaceuticals. Turkey is also one of the leading shipbuilding nations.
Turkey's main export partners are Germany, Iraq, UK, Italy, France.
The economy of Turkey is defined as an emerging market economy by the IMF. Turkey is among the world's developed countries. Turkey is also defined by economists and political scientists as one of the world's newly industrialized countries. The country is among the world's leading producers of agricultural products; textiles; motor vehicles, ships and other transportation equipment; construction materials; consumer electronics and home appliances.
The EU accession process has been a significant anchor for reforms in Turkey, but progress has slowed in recent years. The EU is Turkey’s largest economic partner, accounting for around 40 percent of Turkish trade. Turkey has benefited significantly from deepening integration with the EU through the growing sophistication of both exports and imports and access to financing.
Main import partners of Turkey are Russia, China, Germany, the US, France, South Korea.
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Turkey Customs Contacts
Address: Maslak Ayazağa mah. Dereboyu sok. Sun Plaza Kat 13, No: 25, Şişli, İstanbul, Türkiye
Telephone: +90 212 444 12 37
Fax: +90 212 366 58 02
Turkey is a contry situated in Eurasia, mainly on the Anatolian peninsula in Western Asia, with a smaller portion on the Balkan peninsula in Southeast Europe. It is bordered by 8 countries: Syria, Iraq, Iran, Armenia, Azerbaijani exclave of Nakhchivan, Georgia, Bulgaria, and Greece. It is also bordered by the Black Sea, the Mediterranean Sea and the Aegean Sea. Turkey is a member of the UN, NATO, a founding member of the OECD, OSCE, OIC and G-20. Turkey is also an associate member of the European Economic Community and the EU Customs Union, as well as an applicant to the European Union. The country's location between Europe and Asia makes it strategically important.
Tariffs on imports from non-European countries are approximately 3% above European Union rates, but vary on a product-by-product basis.
A Value Added Tax applies in Turkey irrespective of the country of origin. For most agricultural products (basic food) VAT ranges from 1% to 8% and for some processed products can reach up to 18%.
Capital goods, some raw materials, imports by government agencies and state owned enterprises and products for investments with incentive certificates are exempt from import fees. Import duties are calculated on the Cost, Insurance and Freight (CIF) value.
The government has adopted the EU's common external trade standards, so customs tariffs and duties (with a few exceptions) are equal to those of the EU. Turkey's weighted rate of protection for imports of non-sensitive industrial products is zero for items originating in the EU and European Free Trade Association (EFTA) countries.
Some agricultural goods will remain protected by steep tariffs. When the EU applies further Uruguay Round reductions, Turkey's average rates for third countries will be lowered to 3.5 per cent.
Despite the EU alliance, Turkey continues to maintain various tariff and non-tariff barriers to control and restrict imports, particularly for agriculture products (including wine).
Product certification, labelling and packaging
Special regulations apply to labelling of some items, including:
Translation into Turkish is required and all industrial products must bear a registered trademark. All packages, cases and bales must bear:
Packing should be strong and should guard against heat in summer, humidity in winter and possible periods of storage in the open.
Import licenses and phytosanitary certificates are necessary for food and agricultural commodity imports.
Methods of quoting and payment
Quotes should be in the form of an itemised pro-forma invoice, Free on Board (FOB) and Cost, Insurance and Freight (CIF). Unless instructions are given to the contrary, goods should be fully insured on the CIF value and covered for the entire journey. A letter of credit and favourable credit terms, e.g. up to 60 days, are often expected.
The commercial invoice must be in triplicate with the original certified and signed by the exporter. The exporter must endorse the original as follows: "We hereby certify that this is the first and original copy of our invoice, the only one issued by our firm for the goods herein mentioned."
It is advisable to have documents certified by the Turkish Embassy or Consulate. The commercial invoice must contain:
Certificates of origin
Two copies of the certificate of origin and three copies of the packing list is generally required. It may need to be certified by a chamber of commerce or similar body or by the Turkish Consulate in Australia.
The certificate must identify:
Bill of lading
The original bill of lading and three copies should be submitted. Details must correspond exactly with those on the commercial invoice.