Türkiye-Barbados Bilateral Trade Analysis 2023
Complete trade statistics: $32.77M total volume •Türkiye surplus: $21.17M
Türkiye → Barbados
$26.97M
Exports (2023)
Barbados → Türkiye
$5.80M
Imports (2023)
Trade Balance
$21.17M
Surplus for Türkiye
Total Trade
$32.77M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Türkiye and Barbados. Green line shows exports from Türkiye, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Türkiye-Barbados commercial relationship and competitive positioning in global markets.
Türkiye → Barbados Exports
Export Market Intelligence
🎯 Strategic Export Focus
Türkiye's export portfolio to Barbados demonstrates strategic specialization, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Barbados → Türkiye Imports
Import Dependency Profile
📦 Import Strategy Analysis
Türkiye's import pattern from Barbados reveals significant dependencyin vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Türkiye demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Barbados, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $32.77M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Türkiye-Barbados Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $32.77 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Türkiye maintains a surplus of $21.17 million
- Export Focus: Türkiye's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, cement: hydraulic kinds n.e.c. in heading no. 2523, iron or non-alloy steel: bars and rods, hot-rolled, in irregularly wound coils, containing indentations, ribs, grooves or other deformations produced during the rolling process
- Import Dependencies: Key imports from Barbados include vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods, rum and other spirits obtained by distilling fermented sugar-cane products, spirits, liqueurs and other spirituous beverages: n.e.c. in heading no. 2208
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $32.77M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Türkiye leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Türkiye's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Barbados's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $32.77M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $32.77M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $32.77 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Türkiye's trade surplus of $21.17 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Türkiye and Barbados represents a total trade volume of $32.77 million in 2023. This partnership demonstrates a favorable trade balance for Türkiye, with exports exceeding importsby $21.17 million.
Export Strengths
Türkiye's exports to Barbados total $26.97 million, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $8.82M or32.7% of bilateral exports.
Import Dependencies
Imports from Barbados amount to $5.80 million, highlighting economic interdependence in vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods, with Vessels: n.e.c. in heading no. 8901, for the transport of goods and other vessels for the transport of both persons and goods comprising93.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Türkiye's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Türkiye and Barbados in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023