Bilateral trade between China and Turkey has experienced remarkable growth, witnessing a doubling of imports from China between 2019 and 2022. The United Nations COMTRADE database reports that Turkey's imports from China in 2022 reached $41.35 billion.
Despite the increase in import duties in the country, trade between China and Turkey continued to develop. In October 2023 alone, China exported goods worth $2.83 billion to Turkey, showcasing the resilience of the trade relationship. The top exports during this period included telephones, computers, nitrogenous fertilizers, non-retail synthetic filament yarn, and polycarboxylic acids.
The economic collaboration between China and Turkey received a significant boost with the signing of the Belt and Road Memorandum of Understanding. Chinese companies have since invested over $3 billion in Turkey, demonstrating a diversified interest in sectors such as finance, manufacturing, energy, electronics, and infrastructure. This investment trend continues to rise, with Turkey now hosting more than 1,200 Chinese companies.