Turkey has a peculiar location as its territory is spread over both Asia and Europe. After 1995, Turkey’s proximity to the European Union opened up the trading fortunes of this country. According to the latest reports, the economy of this nation is dominated by the services sector which contributes 63 percent to national GDP (gross domestic product), followed by 28 percent contributed by the industrial sector. The agricultural sector in contrast, contributes about 9 percent towards GDP. This interesting combination of industry, agriculture, and services makes Turkey procurement a matter of interest among industrialists and business houses.
Items of Export
Turkey is a big exporter of textiles, iron and steel, transport equipment, pharmaceuticals, chemicals, clothing, and marine liners. According to the latest estimates, monthly exports for 2012 were recorded at US $11 billion. European Union nations are Turkey’s chief export destination, followed by the United States of America, the United Kingdom, Russia, and Iraq. This nation imports from Russia, Germany, Italy, the United States, China, and Iran.
Turkey Resources
Turkey has a rich resource of cotton, tobacco, olives, hazelnuts, and citrus fruits as cash crops. Grain, pulses, and sugar beet are the chief food crops grown in this country. Livestock is an important resource used both for local consumption and exports. This country has large deposits of iron ore, coal, copper, gold, mercury, antimony, and chromium. Non-metallic deposits include marble, petite, sulfur, pumice, limestone, and emery.
The industries of note include food processing, textiles, automobiles, paper, steel, and petroleum refining. Some of these industrial goods are exported as finished products while others are used as semi-finished intermediaries.
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