Turkey: made-in-Italy exports keep pace, Italian investment contracts

According to data released by the Turkish Statistical Institute (TUIK) and revised by ICE Istanbul, Turkey's trade with the rest of the world amounted to USD 240.5 billion in the first nine months of 2010, up 22.4% compared to the same period in 2009. The trade balance was in the red by US$55.1 billion (up 83% compared to 2009).Turkey Export Made in Italy

Italy is confirmed in fourth place in the ranking of partner countries with an interchange of USD 13.6 billion (+25.4 % compared to 2009), of which 8.3 is represented by exports (+35.6 %, Italy is the fifth supplier country) and 5.3 by imports (+12.5 %). The balance is in surplus for Italy and amounts to US$2.9 billion.

Italy's market share of total imports from Turkey is 5.6%, up slightly from recent years and supported mainly by supplies of plant, machinery and technology. It is evident that Turkey's platform is becoming increasingly industrialized and aiming for higher and higher levels of competitiveness. Hence the need to accompany our exports with more industrial collaboration operations.

On the other hand, data on the foreign direct investment side show a counter-trend. According to figures compiled by ICE Istanbul, again in the first nine months of 2010, such investments reached the figure of US$5.2 billion, a decrease of 20.9% compared to the same period of the previous year. Only real estate investments mark positive changes, rising from US$1,233 million in 2009 to US$1,849 million in 2010 (+50%). Italy invested US$38 million in 2010, a figure that is clearly down from 2009 (-85%). In contrast, the European countries that appear to have invested the most in Turkey are the Netherlands, Germany and France.

Of the 25,927 foreign companies operating in Turkey, there are 802 Made in Italy companies, or 3.1%.

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