Canada is an important trade partner of Turkey in the continents of America. The negotiations to conclude a Free Trade Agreement between Turkey and Canada have launched, parallel to the negotiation process between Canada and European Union.

In order to complete the legal framework of bilateral commercial and economic relations, Turkey and Canada have signed a number of agreements, including Memorandum of Understanding on High Level Commercial and Economic Consultations (1996), and Double Taxation Prevention Treatment (2009). The Second Session of High Level Commercial and Economic Consultations was held in Ottawa in 19-24 June 2000

Exports

Canada was Turkey’s 37th largest goods export market in 2011.

Turkish goods exports to Canada in 2011 were 875.2 million billion $, up 82% (479.5 million $) from 2010, and up 407% from 2001.

The top export categories (2-digit SITC) for 2011 were: gold, gold plated silver and metal bases (234 million $); iron and steel (114 million $); vegetables and fruit (112 million $); non-metallic mineral manufactures (78 million $); and road vehicles (64 million $).

Imports

Canada was Turkey’s 39th largest supplier of goods imports in 2011.

Turkish goods imports from Canada totaled 1.3 billion $ in 2011, up 43% (915.3 million $) from 2010, and up 915% from 2001.

The top 5 imports categories (2-digit SITC) for 2011 were: metalliferous ores and metal scrap (359 million $); coal, coke and briquettes (199 million $); vegetables and fruit (191 million $); paper, paperboard and articles of paper pulp, of paper or of paperboard (101 million $); and other transport equipment (67 million $).

Trade Balance

The trade deficit of goods with Turkey was 436.3 million $ in 2011, a 0,11% increase (435.8 million $) over 2010.

Investment

Turkish foreign direct investment (FDI) stock in Canada was 2.8 million $ in 2011.

FDI of Canada in Turkey (stock) was 56 million $ in 2011.