Imports of services grew by 11% to reach $117.2 billion in the year 2024
Turkey's Services Trade with the EU and Beyond in 2024
The Turkish Statistical Institute (TÜİK) recently released data that sheds light on Turkey's services trade with the European Union (EU) and other countries in 2024.
The EU emerged as a significant player in Turkey's services trade, accounting for 42.3% of Turkey's services imports (excluding travel). This amounted to $55.8 billion, an increase of 12% compared to the previous year. The EU was also Turkey's largest export market for services, with $21.79 billion in exports, representing a 18.6% share.
The European Union held a 35.8% share in Turkey's services exports (excluding travel), while the United States and the United Kingdom followed with 11.8% and 6.1% shares respectively. Notably, Germany led Turkey's services exports, with a 12.3% share, totaling $7.48 billion.
Transport services were a key component of Turkey's services trade. Exports in this sector rose by 7% to $40.99 billion, while the share of transport services in total services exports decreased slightly from 36.3% in 2023 to 35% in 2024. On the other hand, the share of transport services in Turkey's services imports increased to 38.3%, up from 36.8% in 2023.
Other business services held a 5.9% share in Turkey's services exports and a 16.4% share in services imports. Telecommunication, computer, and information services exports surged by 37.8% in 2024, totaling $5.34 billion.
Travel services remained the largest export category, accounting for 48% of total services exports, while it held a 13.2% share in Turkey's services imports.
Three countries - Germany, the United States, and the United Kingdom - collectively represented 30.2% of Turkey's total services exports (excluding travel) in 2024. Besides the EU, the three most important trading partners for Turkey's service exports in 2024 were not clearly specified in the available data.
Overall, Turkey's services exports increased by 11% to $117.2 billion in 2024, marking a significant growth in the sector. The data provides valuable insights into Turkey's growing role in the global services trade and its strategic partnerships with key trading partners.
