With a population of over 85 million people, a GDP of $1.1 trillion, and a significant role in global trade, Turkey is an attractive market for U.S. exporters. In 2024, North Dakota exported $4.91 million in goods to Turkey, making it a key trade partner for the state. Turkey’s strategic location at the crossroads of Europe and Asia, along with its dynamic economy, offers promising opportunities for North Dakota businesses looking to expand internationally.
The NDTO “Finding the Right Fit” series highlights the trade and business opportunities of a different country each month. In this edition, we’ll explore Turkey’s market potential, expanding sectors, and how an export partnership could benefit your business.
All statistics and information used in the “Finding the Right Fit” series are available through various online programs made accessible through an NDTO membership. To become a member, please contact info@ndto.com or call (701) 231-4323.
Markets & Profitability
North Dakota’s top exports to Turkey in 2024 included industrial and agricultural machinery, surgical instruments, furniture, mineral fuel/oil, and various agricultural products. These products align well with Turkey’s strong agricultural sector and increasing demand for innovative farming solutions. Nationally, Turkey imported $15.3 billion worth of U.S. goods, including machinery, chemicals, and iron and steel.
Turkey’s diverse economy provides ample opportunities for North Dakota businesses. Its agricultural industry is a significant part of the economy, with a growing need for advanced machinery, grain storage solutions, and precision agriculture technology. Additionally, Turkey’s expanding infrastructure and energy projects create opportunities for businesses specializing in construction equipment, renewable energy solutions, and industrial machinery.
Furthermore, Turkey’s large consumer base offers potential for businesses in the food and beverage sector, particularly those offering high-quality agricultural products or value-added foods.
Expansion
Turkey’s strategic location and developed logistics networks make it an ideal gateway for accessing not only the Turkish market but also neighboring regions, including the Middle East, Central Asia, and Europe. The country’s commitment to economic growth through investments in energy, infrastructure, and technology also supports a conducive environment for international trade.
For exporters, Turkey’s efforts in renewable energy, especially in wind and solar power, provide opportunities for North Dakota companies with expertise in clean energy technologies. Additionally, Turkey’s agricultural sector is modernizing, driving demand for precision farming equipment and sustainable agricultural practices.
The Turkish government offers incentives for foreign investors, further facilitating market entry for North Dakota exporters. With its well-established ports and trade routes, Turkey serves as a critical distribution hub, streamlining access to broader regional markets.
The Ideal Partner
Still considering whether Turkey is the right fit for your business? Here are a few reasons why it could be a strong export destination:
- Growing Agricultural Sector: Turkey is one of the world’s leading agricultural producers. North Dakota companies offering agricultural machinery, storage solutions, and sustainable farming technologies can find strong demand.
- Strategic Location: As a key player in both Europe and Asia, Turkey provides access to a vast and diverse market. Establishing trade in Turkey can serve as a stepping stone for expansion into surrounding regions.
- Infrastructure and Energy Opportunities: Turkey continues to invest heavily in infrastructure and renewable energy projects, creating opportunities for companies specializing in construction machinery, energy solutions, and engineering services.
- Stable Trade Relations: The United States and Turkey maintain a robust economic relationship, supported by bilateral agreements and a mutual interest in expanding trade partnerships.
Is Turkey a Compatible Market for You?
Determining compatibility requires thorough research into the value and demand for your products in Turkey. However, with its growing economy, strategic location, and demand for innovative solutions, Turkey presents a promising market for North Dakota exporters.
As always, if you would like more information on exporting abroad or “Finding the Right Fit,” contact the NDTO!