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Enhanced global steel trade monitoring
Steel Exports Report: Turkey
Background
Turkey was the world’s eighth-largest steel exporter in 2017. In 2018 Turkey exported 19.8 million metric tons of steel, a 22 percent increase from 16.2 million metric tons in 2017. Turkey’s exports represented about 4 percent of all steel exported globally in 2017 based on available data. The volume of Turkey’s 2018 steel exports was about one-fifth that of the world’s largest exporter, China. In value terms, steel represented just 7.6 percent of the total amount of goods Turkey exported in 2018.
Turkey exports steel to more than 200 countries and territories. The ten countries labeled in the map below represent the top markets for Turkey’s exports of steel, receiving more than 500 thousand metric tons each and collectively accounting for 51 percent of Turkey’s steel exports in 2018.
Turkey maintained a nearly continuous trade surplus in steel from 2005 through early 2015. In 2015, exports started to decline while imports began to climb, causing brief steel trade deficits between Q2 2015 and Q2 2016 and during Q3 2017. Since the recession year of 2009, Turkish exports have grown 13.8 percent, while imports have been flat, with some volatility. In 2018, Turkey’s steel trade surplus has totaled 9.5 million metric tons, increasing 6.6 million metric tons or 231 percent from 2017.
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