Turkey was Australia’s 39th largest trading partner in 2020. Total goods and services trade amounted to about $1.7 billion in 2020, $300 million lower than in 2019. Medicaments, coal and fruit and nuts were Australia’s chief goods exports to Turkey in 2020. Goods vehicles, lime, cement and construction materials were Australia’s primary goods imports from Turkey in 2020. The sharp fall in the Turkish lira and the ongoing foreign exchange crisis in Turkey point to a difficult 2022 for bilateral trade.
Student enrolments from Turkey moderated in 2020. The ongoing pandemic points to another year of uncertainty for education, and services exports, more broadly in 2022.
Bilateral investment between Turkey and Australia is modest. Australian companies have invested in Turkey’s infrastructure, mining, construction services, agri-business and digital services. Turkish investment in Australia is very small.