Türkiye-Rep. of Korea Bilateral Trade Analysis 2023
Complete trade statistics: $10.48B total volume •Türkiye deficit: $8.47B
Türkiye → Rep. of Korea
$1.01B
Exports (2023)
Rep. of Korea → Türkiye
$9.48B
Imports (2023)
Trade Balance
$8.47B
Deficit for Türkiye
Total Trade
$10.48B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Türkiye and Rep. of Korea. 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-Rep. of Korea commercial relationship and competitive positioning in global markets.
Türkiye → Rep. of Korea Exports
Export Market Intelligence
🎯 Strategic Export Focus
Türkiye's export portfolio to Rep. of Korea demonstrates strong diversification across multiple sectors, with blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale representing a key competitive advantage in this bilateral market.
Rep. of Korea → Türkiye Imports
Import Dependency Profile
📦 Import Strategy Analysis
Türkiye's import pattern from Rep. of Korea reveals significant dependencyin acids: aromatic polycarboxylic acids: terephthalic acid and its salts, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Türkiye demonstrates competitive strength in exportingblood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale to Rep. of Korea, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $10.48B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Türkiye-Rep. of Korea Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $10.48 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Türkiye maintains a deficit of $8.47 billion
- Export Focus: Türkiye's primary exports include blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale, nickel: oxide sinters and other intermediate products of nickel metallurgy, zinc ores and concentrates
- Import Dependencies: Key imports from Rep. of Korea include acids: aromatic polycarboxylic acids: terephthalic acid and its salts, propylene, other olefin polymers: polypropylene in primary forms, blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global 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 $10.48B 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 blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale.
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 blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail salecomplements Rep. of Korea's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in acids: aromatic polycarboxylic acids: terephthalic acid and its salts.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $10.48B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $10.48B 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 $10.48 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale and acids: aromatic polycarboxylic acids: terephthalic acid and its salts demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Türkiye's trade deficit of $8.47 billion impacts 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 Rep. of Korea represents a total trade volume of $10.48 billion in 2023. This partnership demonstrates an unfavorable trade balance for Türkiye, with imports exceeding exportsby $8.47 billion.
Export Strengths
Türkiye's exports to Rep. of Korea total $1.01 billion, with competitive advantages in blood, human or animal, antisera, other blood fractions and immunological products: immunological products, unmixed, not put up in measured doses or in forms or packings for retail sale, representing $449.52M or44.6% of bilateral exports.
Import Dependencies
Imports from Rep. of Korea amount to $9.48 billion, highlighting economic interdependence in acids: aromatic polycarboxylic acids: terephthalic acid and its salts, with Acids: aromatic polycarboxylic acids: terephthalic acid and its salts comprising7.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Türkiye's strategic sourcing from Rep. of Korea. 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 Rep. of Korea in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023