Turkey’s Gold Imports – Turkey Gold Importers and Shipment Data

31 July 2020
Turkey Import Data

Turkey’s gold imports valued USD 6,877 million from January to May 2020. And value of gold shipments entered into the country recorded 11,230 million in 2019. According to Turkey import data, the country saw fluctuation in gold imports during Feb, Mar and May months. However, Turkey recorded a drastic decline in value of gold shipments to USD 657 million in April month due to coronavirus pandemic lockdown. Let’s analyze a larger picture of Turkey gold importers with Turkish importers of gold.


Turkey Gold Imports from Jan to May 2020


Turkey customs data shows that the country imported gold worth USD 1,755 million in January 2020, which declined slightly in Feb and rose in Mar 2020. In April 2020, Turkish gold imports declined drastically to mere USD 657 million due to Covid-19 pandemic lockdown and international restrictions on global trade.


Month

Value USD Million

January

1,755

February

1,336

March

1,730

April

657

May

1,399

 


Imports of Gold into Turkey in Last 10 Years


Turkey recorded a fluctuating value in gold imports in the last 10 years. As per Turkey shipment data, the country imported 64 tons of gold from the foreign countries in 2010 and 290 tons in 2019. Turkey imported the highest quantity of gold in 2017, when the country purchased gold worth USD 421 million.


In terms of value, Turkey imported gold the most in 2017, when gold worth USD 16,577 million was purchased from abroad. In 2019, the country imported gold worth USD 11,230 million. Below given chart and table shows quantity and value of Turkey’s gold imports recorded in the last ten years.



Year

Quantity (Tons)

Value USD Million

2010

64

2,523

2011

128

6,251

2012

158

7,636

2013

351

15,127

2014

192

7,106

2015

105

3,425

2016

178

6,458

2017

421

16,577

2018

299

11,300

2019

290

11,230

 


Turkey’s Top 10 Import Partners of Gold


Turkey imports gold the most from the United Arab Emirates, which shared 31.5% value to total gold imports recorded in 2019. As per Turkey import statistics of gold, other top suppliers of gold to Turkey are Iraq, Switzerland, Germany and United Kingdom. Have a look at percentage share of Turkey’s top 10 import partners of gold.



Country

Value USD Million

United Arab Emirates

31.5

Iraq

21.4

Switzerland

15.6

Germany

8.5

United Kingdom

4.9

Australia

2.7

Belgium

2.4

Libya

2

Hong Kong

1.5

South Africa

1.3

 


Gold Importers in Turkey


Are you looking for gold buyers in Turkey? Check the list of Turkish importers of gold now.


                                  ·         M/S. Star Dekor San VE DIS TIC A.S

                                  ·         Besel Endustriyel Urunler Food and AMB.

                                  ·         Pernod Ricard IC VE DIS Istanbul Ltd STI

                                  ·         Enkis Petroleum & Lubricants Company


Where Does Turkey Stands in Gold Global Imports – Gold Imports by Country 2019


Worldwide purchases of imported gold totaled an estimated USD 306.2 billion in 2019. The overall value of gold imports increased by an average 21.7% for all importing countries since 2015 when the value of gold imported recorded at USD 251.7 billion. If we look at global import statistics of gold, Turkey stood at 6th position in world’s gold imports in 2019, which shared 3.7% value to total imports of gold.



Country

Value USD %

United Kingdom

23.1

Switzerland

19.8

China

14.3

India

10.5

Hong Kong

4.6

Turkey

3.7

Singapore

3.3

United States

3.2

Thailand

2.3

United Arab Emirates

2.2

 

From a continental perspective, European countries imported the highest dollar worth of gold during 2019, which shared 47.2% of the global imports of gold. In second place, Asian importers purchased gold, which shared 45.7% of total gold imports.


Gold comes under pearls and precious stone category of Chapter 71. Pearl and precious stone was the fifth largest import product in 2019 of Turkey, which shared 6.63% value to total Turkey’s imports. Turkey imported gold the most under this category in the last year. Get all updated on Turkey imports gold with Turkey import data of gold.

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