EU27 Chemical Trade Analysis with Türkiye

The trade analysis between EU27 and Türkiye prepared by Dr. Moncef Hadhri, Cefic Manager Economic Affairs, Industrial Policy and Competitiveness has been presented for your information

11.11.2022

The "Chemical Trade Analysis with EU27 Turkey" slides presentation dated November 9th, 2021 are presented for your information.


Key Findings:


The EU27 produced a significant trade surplus with Turkey


The EU27's chemical exports to Turkey increased from 9,201 billion Euros in 2020 to 11,461 billion Euros in 2021. Exports increased by an average of 3.5% per year from 2011 to 2021 (CAGR). Export values ​​in 2021 were 40 percent higher than 2011.


The EU27's chemical imports from Turkey increased from 2.711 billion Euros in 2020 to 4.172 billion Euros in 2021. Imports have increased by an average of 11.1% annually (CAGR) over the last 10 years.


EU27 Imports in 2021 were 2.8 times higher than in 2011


EU27 trade flows by sector. Polymers and specialty chemicals constitute approximately 2/3 of the EU27's chemical exports to Turkey. Polymers are the EU27's largest importing sectors, accounting for 39% of imports.


Exports (as % of Imports) In 2011, exports were 5.6 times the imports, and in 2021, exports were 2.7 times the imports. On average, Export values ​​were 4.4 times higher than import levels.


EU27 chemicals trade (export + import) with Turkey in 2021, 63% above 2011 level


The EU27's chemical trade surplus is worth €7.289 billion in 2021. The EU27 continues to run a trade surplus with Turkey. The largest EU27 trade surplus with Turkey was for polymers, followed by specialty chemicals and petrochemicals.


EU27's chemical trade surplus with Turkey increased significantly in 2021 (+12%)


Largest AB27 trade surplus attributable to Polymers


Polymers account for more than a third of EU27 exports to Turkey


Polymers account for around 40% of EU27 imports from Turkey


The EU27's chemicals trade with Turkey increased from EUR 11,913 billion in 2020 to EUR 15,633 billion in 2021. EU27 trade increased for the third year in a row from 2018 to 2021.


  EU27 Chemical Trade Analysis with Turkey- 9 November 2021