Head of German-Turkish Chamber of Commerce and Industry (AHK) Ersoy said that there are currently about 8 thousand German-owned companies in Turkey.
"Germany's share in foreign direct investments in Turkey is 6.4%. In 2022, the total of German investments was 697 million dollars. Most of these investments are long-term investments that create hundreds of thousands of jobs in Turkey. Among our members are companies operating in Turkey for over 100 years. German companies operate in different fields, from industrial production for many sectors, to retail and wholesale, logistics and distribution", Ersoy said.
FOREIGN TRADE VOLUME BREAKING RECORD
Reminding that the bilateral foreign trade volume reached a record level of 41 billion dollars in 2021 and exceeded the level of 45 billion dollars in 2022 with a new record, Ersoy said, "Germany continues to be the most important export market for Turkish exporters. The foreign trade deficit between Turkey and Germany has decreased from 11 billion dollars to 2.8 billion dollars in the last 10 years. In other words, the trade balance between our countries is improving in favor of Türkiye."
AUTOMOTIVE TAKES HEAD IN EXPORT TO GERMANY
Ersoy stated that the statistical data show that in 2022, besides the motor vehicles and automotive sub-industry, the trade of boilers, machinery and mechanical equipment has a special position in bilateral trade between Turkey.
"Turkey now stands out not only as an importer of industrial goods and machinery, but also as a supplier of such goods," Ersoy stated.
Ersoy continued her words as follows:
"In 2022, industrial products such as boilers, machines and mechanical equipment had a significant share in Germany's exports to Turkey, with a total value of approximately 5 billion dollars. Other leading exports are motor vehicles, trailers and their accessories, respectively ($3.97 billion); plastic and plastic products (1.77 billion dollars). In contrast, Turkey exported $2.96 billion worth of automotive industry products/semi-trailers and trailers and components to Germany. Other leading export items include knitted clothing ($2.77 billion); food ($1.18 billion); industrial products such as boilers, machinery and mechanical equipment (2.09 billion dollars)."