GROWING TRADE BETWEEN PHILIPPINES AND TURKEY – A COMPARATIVE STUDY

GEOGRAPHICAL OVERVIEW – PHILIPPINES AND TURKEY

Both, the Philippines as well as Turkey are located in the Asian Continent. The Philippines is situated in the Southern part of Asia whereas Turkey is located in the Western part of Asia. On comparing the land area of both the countries we get a clear picture as to which country is big and which is smaller based on land area. Turkey is undoubtedly a much bigger country than the Philippines as it comes with more than twice the land area. Surprisingly, despite having a small land area, the population of the Philippines is much more than Turkey.

PHILIPPINES TRADE DATA AND TURKEY TRADE DATA RELATIONSHIP

Due to the growing trade between the two nations, the government of each country is working towards the establishment of a Free Trade Agreement to eliminate all barriers that hinder trade between the two nations. Both governments are promoting bilateral trade to boost Turkey Trade Data and the Philippines Trade Data through imports and exports at a large scale.

Now let’s discuss some statistics that will help you to get an idea that what the bilateral trade between the Philippines and Turkey looks like and what is the contribution of the Philippines to Turkey Trade Data and vice versa. In the year 2020, as per the Philippines Export Data concentrated to Turkey, the Philippines exported goods worth USD 120 million to Turkey. On the other hand, if we refer to the Turkey Export Data for the same year, then we come to know that Turkey exported goods worth USD 108 million to the Philippines.

Some of the Exports made by the Philippines to Turkey as listed in Philippines Export Data and Turkey Import Data are as follows:

·        Edible fruits and nuts and melons (USD 11.3 million)

·        Electrical and electronic gadgets (USD 7.02 million)

·        Watches and clocks (USD 3.80 million)

·        Resins, gums, and lac (USD 3.45 million)

 

Some of the Exports made by Turkey to the Philippines as listed in Turkey Export Data and the Philippines Import Data are as follows:

·        Machinery, boilers, and reactors (USD 17 million)

·        Electrical and electronic gadgets (USD 12.70 million)

·        Pharmaceutical items (USD 8.30 million)

·        Copper (USD 5.53 million)

·        Plastic (USD 4.75 million)

Major products exported from the Philippines to Turkey as listed in the Philippines Trade data are machine parts of offices and major products exported by Turkey to the Philippines as mentioned in Turkey Trade Data are packed medicines.

As we compare both nations about their economic complexity index and total exports, then the Philippines was ranked 39^th whereas, Turkey was ranked 38^th. In comparison to total exports, the Philippines was ranked 39^th, and Turkey was ranked 29^th, as per the statistics shared by the Philippines Trade Data and Turkey Trade Data for the year 2020.

CONCLUSION

As the years are passing, the bilateral trade between both countries is increasing and growing by leaps and bounds. It is estimated that both countries will surely sign the free trade agreement soon so as to eliminate all the remaining barriers that hinder any overseas trade and transaction. As both nations share a common continent, trade is relatively easier between these countries due to multiple transportation facilities without any hassle or lags. In the coming years, the Philippines Trade Data and Turkey Trade Data will increase several folds due to their increasing collaboration with each other.

SECRET TO SUCCESS

If you want further analysis and the best advice about the Turkey Trade Data or the Philippines Trade Data or Best Import Export Data of any country, then get in touch with TradeImeX® Info Solution Pvt Ltd. We are one of the best companies available online that provide 100% accurate and reliable trade data from more than 70 countries including Turkey Export Data and the Philippines Import Data at affordable prices. We deal in providing customized databases to our clients which are highly curated as per each client’s needs and wants.

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