Turkey was the fifth largest trade partner of the European Union last year, according to data from the Union’s statistical authority on March 29. In 2016, Turkey’s trade volume with the 28-member bloc was 145 billion euros (156 billion dollars), comprising 4.2 percent of the overall trade volume of the EU, Eurostat’s report said.

Last year, Turkey’s exports to the EU stood at 66.7 billion euros, up 8.3 percent from a year earlier, making it the fifth largest import market of the bloc with an approximate share of 4 percent in overall EU imports.

Turkey’s imports from the EU, on the other hand, were 78.01 billion euros, down 13 percent (or 990 million euros) from 2015. That placed Turkey as the fourth largest export destination of EU, with a 4.5 percent share in overall EU exports.

The U.S. topped the list of the largest EU trading partners with a trade volume of 610 billion euros, or 17.7 percent of the total EU trade in goods. China came second with a trade volume of 515 billion euros, or a 14.9 percent share.

Switzerland and Russia occupy the third and fourth spots in terms of trade volume, with shares of 7.6 percent and 5.5 percent respectively.


Source: medNews