ع
Turkish Trade Minister Omer Bolat told Anadolu Agency on the sidelines of the UN General Assembly that bilateral trade volume with the United States is expected to reach 42 to 43 billion dollars this year and expand to 50 billion dollars by the end of 2028. Bolat noted that economic relations have gained momentum in the past two years through private sector initiatives and government supported trade delegations. The minister added that these efforts support the 100 billion dollar trade target established by the leaders of both nations.
Data from the first eight months of the year indicate that bilateral trade is on track to increase more than 10 percent annually the minister reported. The United States ranks as Türkiye’s second largest export destination and fourth largest import partner according to the minister’s assessment. Bolat further stated that the US stands as the second largest source of foreign direct investment into Türkiye.
Approximately 2300 American companies have invested in Türkiye with a capital stock of 16.5 billion dollars Bolat told the agency. Total US capital investments in the country approach 60 billion dollars when accumulated over decades the minister explained. Turkish firms have in turn invested nearly 14.5 billion dollars in the US economy he added.
United States Trade Representative figures show combined goods and services trade between the two countries reached an estimated 48.9 billion dollars in 2025 an increase of 14 percent from the prior year. Goods trade alone totaled 36.8 billion dollars in that period with US exports to Türkiye at 20.4 billion dollars and imports from Türkiye at 16.4 billion dollars. Services trade contributed an additional 12.2 billion dollars according to the United States Trade Representative data.
Bolat addressed ongoing discussions regarding tariffs imposed on certain Turkish exports noting that some measures were adjusted following court rulings while others remain under negotiation. The minister highlighted cooperation opportunities in renewable energy artificial intelligence defense aerospace automotive chemicals pharmaceuticals and medical devices. Turkish companies are particularly interested in leveraging these areas to expand market presence in the United States.
The Observatory of Economic Complexity reported that Türkiye’s goods exports to the US included significant volumes of jewellery refined petroleum and textiles in recent years. Complementary US exports have focused on aircraft mineral fuels and machinery a pattern that has supported steady growth in the bilateral relationship. Bolat expressed confidence that sustained momentum would allow the 50 billion dollar mark to be achieved by 2028 as planned.
