The trade balance between Germany and Turkey is progressing in favor of Turkey

In his statements, Ersoy mentioned that there are currently about 8 thousand companies with German capital in Turkey.

"Germany's share in foreign direct investments in Turkey is 6.4 percent. In 2022, German investments totaled 697 million dollars. "said Ersoy and noted the following:

"Most of these investments are long-term investments that create hundreds of thousands of jobs in Turkey. Among our members, there are companies that have been operating in Turkey for more than 100 years. German companies are active in a wide range of sectors, from industrial production to retail and wholesale logistics and distribution.

Despite the war in Ukraine and the two-year pandemic, the Turkish economy grew strongly last year and set new records in exports. Despite all these negative influences and challenges, last year was another record year for German-Turkish trade relations."

Reminding that the bilateral foreign trade volume reached a record level of 41 billion dollars in 2021 and exceeded 45 billion dollars in 2022 with a new record, Ersoy said, "Germany continues to be the most important export market for Turkish exporters. The foreign trade deficit between Turkey and Germany has decreased from 11 billion dollars to 2.8 billion dollars in the last 10 years. In other words, the trade balance between our countries is improving in favor of Turkey."

Reminding that the pandemic has affected international trade, Ersoy stated that the main reasons for this are increased freight costs, extended delivery times and disruptions in supply chains.