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Export and Import services in Germany

Export and Import services in Germany
  • Need of time for set up a business: 8 days
  • Inflation (annual): 1.45%
  • Gross domestic product (gdp): 3.86 Trillion $
  • Growth of gdp (annual): 0.56%
  • Merchandise exports: 1.38 Trillion $

Germany offers long-term potential for our domestic businesses with its highly industrialized structure, diversified and stable economy. With its high population, production and purchasing power, it is a reliable and sustainable trade partner for Turkey and other countries in the world. Germany is the most populous country in the European Union with a population of 83.13 million. With its GDP size of 3.84 trillion dollars in 2019, it is the leader in the European Union and 4th in the world. With its 6.5% share in world imports, it is the third country with the highest import after America and China. According to the International Monetary Fund (IMF) data, the German economy, which grew by 0.56% annually in real terms in 2019, is predicted to shrink by -7% annually in 2020 with the effect of the COVID-19 pandemic. According to Comtrade data, Germany is the country to which Turkey exports the most, with 16.6 billion dollars of exports from our country in 2019.

Maintaining its leading position among the countries to which Turkey exports, for many years, Germany has a sustainable share of 10% annually in our total exports between 2005-2019. Looking at Turkey's import data, with 19.27 billion dollars of imports in 2019, Turkey makes 9% of its total imports from Germany. It is envisaged that our trade partnership with Germany, where our bilateral trade exceeds 35 billion dollars, will be preserved in the coming years. Industrial machinery, automotive and chemical industry are among the most developed sectors of the manufacturing industry, which has been the driving force of the German economy for many years.

In recent years, following the increasing global technology investments in addition to these sectors, Germany has increased the importance it attaches to the fields of telecommunication and information technologies. The most important example of this transition is the German automobile giant Volkswagen, which decided to invest 30 billion euros by 2023 with the aim of becoming the mobility (mobility) service provider of the future from being a production company.