Commercial Data:
|
YEARS
|
EXPORT
|
IMPORT
|
VOLUME
|
BALANCE
|
|
2015
|
2,41
|
24,86
|
27,27
|
-22,45
|
|
2016
|
2,32
|
25,44
|
27,76
|
-23,12
|
|
2017
|
2,93
|
23,37
|
26,30
|
-20,43
|
|
2018
|
2,91
|
20,71
|
23,63
|
-17,80
|
|
2019
|
2,58
|
18,49
|
21,08
|
-15,90
|
|
2020
|
2,86
|
23,02
|
25,88
|
-20,15
|
|
2021
|
3,7
|
32,2
|
35,9
|
-28,5
|
Source: TUIK (Billion USD)
Main Export Items from Türkiye: Marble and travertine, other precious metal ores and concentrates, lead, chromium, copper, iron, zinc, natural borate ores, boron oxides and boric acids
Main Import Items to Türkiye: Phones for cellular/other wireless networks, automatic data processing machines and units, tools for receiving, translating and exporting audio-video and other information, compressor, converter
Although Türkiye-China commercial relations has been growing since 2000 when the bilateral trade volume exceeded USD 1 billion for the first time, the trade balance is in China’s favour.
China is Türkiye’s second largest trade partner as of 2021.
The 16th meeting of the Joint Economic Commission (JEC) between Türkiye and China was held in Beijing on 27 September 2009.
The last meeting of the Turkish-Chinese Business Council (established in 1992) was held in Beijing on 29-30 July 2015, on the occasion of the visit of President Erdoğan’s visit to China.
Efforts continue to increase the export of Turkish food and agricultural products to China. Currently, mainly fruit, animal and vegetable fats and oils, pistachios, grains, flour, starch and its preparations, seafood and dairy products are exported from Türkiye to China.
Chinese investments in Türkiye are around USD 4 billion in total. Sectoral allocation of investments is as follows: energy, infrastructure, logistic, finance, diving, telecommunication and livestock.
A swap agreement between the Central Banks of Türkiye and China was signed in 2012 and has been renewed in May 2019.
Türkiye supports China’s “Belt and Road” Project, which consists of the “Silk Road Economic Belt” and “the 21st Century Maritime Silk Road”.
President Erdoğan attended the “Belt and Road Summit” in Beijing on 14-15 May 2017, hosted by President Xi Jinping.
Located at a key position in the Belt and Road initiative, Türkiye aims to realize “Trans Hazar- Middle Corridor” Project, complementing the North Line from China to Europe and opening a new connecting corridor between China and Europe. In this regard, to align the “Belt and Road” Initiative with the “Middle Corridor” Project, a Memorandum of Understanding was signed on 1 July 2016 on the margins of the G20 Hangzhou Summit. The Baku-Tbilisi-Kars railway, a main component of the Middle Coridor, was officially inaugurated on 30 October 2017.
2018 had been celebrated as the “Turkish Tourism Year in China” and various cultural events were organized on this occasion. In 2018, the number of Chinese tourists visiting Türkiye increased by 60% to 394 thousand compared to the previous year, and in 2019 it exceeded 565 thousand.
Yunus Emre Institute was established in Beijing in May 2021.