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Portugal is currently Turkey’s one of the important trading partner among the EU member states. the Customs Union between Turkey and the EU 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 Portugal have signed a number of agreements, including Bilateral Investment Promotion and Protection Agreement (2003) and Double Taxation Prevention Treatment (2006).
Portugal was Turkey’s 49th largest goods export market in 2011.
Turkish goods exports to Portugal in 2011 were 446 million $, down 4.2% (465 million $) from 2010, and up 56% (286 million $) from 2001.
The top export categories (2-digit SITC) for 2011 were: road vehicles (108 million $); textile yarn, fabrics, made-up articles (104 million $); electrical machinery and apparatus (46 million $); iron and steel (37.3 million $) and plastics in primary forms (21 million $).
Portugal was Turkey’s 53th largest supplier of goods imports in 2011.
Turkish goods imports from Portugal totaled 607 million $ in 2011,up 20.5% (504 million $ in) from 2010 and up 792% (68 million $) from 2001.
The top 5 imports categories (2-digit SITC) for 2011 were: plastics in primary forms (103 million $); electrical machinery and apparatus (59.5 million $); paper, paperboard and articles of paper pulp (56 million $); telecommunications and sound recording equipment (54.6 million $) and, road vehicles (44 million $)
Turkey’s trade deficit of goods with Portugal was 161 million $ in 2011, a 313% increase (39 million $) over 2010.
Turkish foreign direct investment (FDI) stock in Portugal was 13 million $ in 2011. Between 2002 and 2011, Turkish FDI stock in Portugal was also 13 million $.
FDI of Portugal in Turkey (stock) was 757 million $ during 2002-2011