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Consumer trade with UK strengthens with passing years

16
May '08
Over the years, Turkey and Britain have shown an exceptionally remarkable potential in trading consumer goods, so much so that the latter is Turkey's most outstanding commercial partners.

In 2007, Turkey's exports to Britain amounted to US $8.6 billion while its imports from the country valued at $5.5 billion.

Exports from Turkey mainly involved readymade garments and textile products among others. On the flip side, imports from Britain mostly include energy producing machines and equipments, gems, machines and organic chemical products.

Even though, UK remains a major textiles supplier of artificial fibres, the bulk of natural fabrics are imported. Turkey is one of the oldest and the most reliable sources for importing cotton.

There are over 1,860 British companies operating in Turkey including such eminent names as Marks & Spencer.

In the period between January and November 2007, nearly 440 British companies invested in Turkey increasing the number of existing functional companies in Turkey to 1,860.

Britain on the other hand housed some 76 Turkish companies in its commercial markets.

While 40.4 percent of Turkish investments in Britain flowed in the manufacturing industry, 30.5 and 21.8 percent went in the commercial and banking sector respectively.


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