US Import Data

  SYNOPSIS   Turkey has emerged as a dynamic player in the global machinery market, with a robust manufacturing sector and a diverse range of machinery products. In this blog post, we will explore Turkey's machinery market and delve into its international trade dynamics. We will examine the key industries, export, and import trends, major trading partners as per Turkey Trade Data reports, and the impact of Turkey's machinery trade on its economy.   OVERVIEW OF TURKEY'S MACHINERY MARKET   Turkey's machinery market encompasses a wide range of sectors, including automotive, textile machinery, industrial machinery, agricultural machinery, construction machinery, and more. The country's manufacturing prowess and technological capabilities have contributed to the growth and competitiveness of its machinery sector.   Turkey's machinery industry comprises both domestic productions for the local market and export-oriented manufacturing. The automotive sec

Turkey is a major exporting nation, with exports exceeding $170 billion in 2021. Its exports are diverse and include vehicles, electrical and electronic goods, iron and steel, apparel and accessories, plastic materials, jewels and precious metals, fruits and nuts, and other food and live animals. In this article, we will explore what Turkey exports to the world, its importance for the Turkish economy and its trade partners, and some key statistics based on Turkey trade data and Turkey export data .   Turkey's Top Export Products   According to the Observatory of Economic Complexity (OEC), the top exports of Turkey by value in 2021 were:   - Cars ($10B) - Jewellery ($6.8B) - Refined Petroleum ($6.53B) - Motor vehicles; parts and accessories (8701 to 8705) ($5.94B) - Delivery Trucks ($5.8B)   These five products accounted for 16.8% of Turkey's total exports in 2021. Other notable export products were machinery, electrical equipment, iron and steel, plastic

  PRESENT MARKET CONDITION OF VIETNAM   The Vietnam Trade Data observed no such significant growth or downfall in the month of May 2023. This is high time now that the nation should work towards making its international relations stronger and more trustworthy so as to observe a major change or rebound in the trade cycle of the nation.   As per some official reports and Vietnam Export Data reports, the economy of Vietnam is still evolving and not completely developed which means that the nation has to work harder to become a market leader. The point to be noted here is that although the economy of Vietnam didn’t decline in the month of May 2023, the problem is that the growth is retarded, sluggish, and very slow.   Some of the biggest industries of Vietnam such as machinery, clothing, furniture, and footwear have currently taken a back seat as these industries too are experiencing year-on-year decline.  Adding to this, if we refer to Vietnam Trade Data reports of the past

  THE PHILIPPINES AND KOREA – BILATERAL RELATIONS   The Philippines and South Korea are one of the best bilateral trade partners in history. Apart from being close bilateral trade partners, the Philippines and South Korea are also the best military allies. The economies of both countries are close-knit concerning trade, tourism, and immigration services.   The first bilateral trade or diplomatic relations between both nations were established on 3 rd March 1949 with the Philippines becoming the 5 th country to officially recognize South Korea as an independent nation. At present, South Korea is one of the major trade partners of the Philippines as per the latest Philippines Trade Data report, 2022. The official central governments of both countries also keep on updating and bringing new policies to strengthen bilateral ties between nations. Various mutual trade agreements have been already signed to smooth up the trade flow and many agreements are in the pipeline of getting

  GLOBAL TRADE SCENARIO OF THE PLASTIC INDUSTRY   The plastic industry of the world as per the Import Export Data report was valued at USD 609.01 billion in the year 2022. The market size of the plastic industry is going to rise at an annual CAGR of 3.98% till 2030 due to its increased usage in multiple domains of life. Plastic is used extensively in the field of construction, vehicles, and the electric industry so as to comply with the new norms in every industry such as vehicle weight reduction, boosting fuel efficiency, reduction in carbon emissions, etc.  On the other hand, in most of the emerging and developing nations such as Brazil, Mexico, and India, the construction and development projects are growing due to which the demand for plastic is growing considerably.   As per the Global Trade Data report, for the past few years, the international trade of plastic has also grown due to the rising demand for plastic across the world. Refer to the table below: