Israel Turkey Bilateral Trade
The Free Trade Agreement between Turkey and Israel (1996) has become the fundamental basis for our bilateral trade relations.
In order to complete the legal framework of bilateral commercial and economic relations, Turkey and Israel have signed a number of agreements, including Bilateral Investment Promotion and Protection Agreement (1997) and Double Taxation Prevention Treatment ׂ(1997ׁ)
Exports
Israel was Turkey’s 18th largest goods export market in 2012.
Turkish goods exports to Israel in 2012 were 2.3 billion dollars, down 2.6% (2.39 billion dollars) from 2011, and up 189% from 2001.
The top export categories (2-digit SITC) for 2012 were: iron & steel (477 million dollars); road vehicles (290 million dollars); electrical machinery (239 million dollars); non-metal minerals (172 million dollars) and textile goods (140 million dollars).
Imports
Israel was Turkey’s 31th largest supplier of goods imports in 2012.
Turkish goods imports from Israel totaled 1.71 billion dollars in 2012, down 17% (2.05 billion dollars) from 2011, and up 223% from 2001.
The top 5 imports categories (2-digit SITC) for 2012 were: crude oil products; plastics (207 million dollars); organic chemical products (201 million dollars); metal junks (120 million dollars) and textile (47.7 million dollars).
Trade Balance
The trade deficit of goods with Turkey was 619 million dollars in 2012, indicating a 85,6% increase (333 million dollars) over 2011.
The top export categories (2-digit SITC) for 2012 were: iron & steel (477 million dollars); road vehicles (290 million dollars); electrical machinery (239 million dollars); non-metal minerals (172 million dollars) and textile goods (140 million dollars).
Contracting & Consultancy Services
In Israel, Turkish contractor companies have undertaken 148 projects and completed most of them. The cumulative amount of the projects undertaken in Israel has reached to 1.03 billion dollars.
The top 5 imports categories (2-digit SITC) for 2012 were: crude oil products; plastics (207 million dollars); organic chemical products (201 million dollars); metal junks (120 million dollars) and textile (47.7 million dollars).
Investment
Besides the contracting companies, three Turkish companies invested to Israel and total value of these investments reached to 6 million dollars.
FDI of Israel in Turkey (stock) was 368 million dollars in 2012.