In a pivotal development for international trade relations, the United States became Turkey’s largest trading partner in 2024, surpassing traditional European allies such as Germany and Italy. This significant milestone underscores the deepening economic cooperation between the two NATO allies and highlights the growing strategic alignment in commerce and investment.
According to data from the Turkish Exporters Assembly (TİM), trade volume between the U.S. and Turkey reached $37.6 billion in 2024. This marks a dramatic increase from $31.9 billion in 2023, solidifying the U.S. as Turkey’s primary global trade partner.
The Role of TABA and AmCham Turkey in Economic Expansion
This surge in bilateral trade has been actively supported by influential business organizations such as the Turkish American Business Association (TABA) and AmCham Turkey, both of which have played a key role in fostering direct dialogue and collaboration between American and Turkish companies.
Through trade missions, investment forums, and business matchmaking events, TABA and AmCham have created crucial platforms that promote mutual understanding and pave the way for strategic partnerships.
“We are witnessing a turning point in U.S.-Turkey relations where economic interests are leading the way,” said a spokesperson from TABA. “This shift shows that both countries are not only strategic allies but also economic partners with shared goals for innovation, trade, and investment.”
What’s Driving the U.S.-Turkey Trade Boom?
Several factors contributed to this significant shift:
•Rising Turkish exports in sectors like defense, textiles, construction materials, and technology
•Growing U.S. investment in Turkish startups, manufacturing, and energy infrastructure
•Political and economic stability sought by Turkish companies amid regional uncertainties
•Turkey’s ambition to diversify trade beyond the European Union
•A mutual push from both governments and private sector leaders to strengthen economic diplomacy
U.S. imports to Turkey also increased, particularly in areas such as energy, aviation technology, pharmaceuticals, and software solutions.
$100 Billion Trade Target on the Horizon
For years, policymakers from both sides have expressed a common goal: to raise bilateral trade to $100 billion annually. While this target may have once seemed aspirational, 2024’s figures show real and measurable progress toward achieving it.
The continued support from organizations like AmCham Turkey, which represents over 100 U.S. companies operating in Turkey, is expected to be crucial in maintaining momentum. These companies collectively contribute billions of dollars to the Turkish economy and employ tens of thousands of workers.
A Strategic Economic Pivot
The U.S. overtaking Germany and Italy—two long-standing trade partners of Turkey—indicates a strategic economic pivot. It also reflects the effectiveness of Turkey’s new trade diversification strategy, which emphasizes building stronger ties with North American and Asian markets, without neglecting the European Union.
This development comes amid changing geopolitical dynamics, where countries seek more resilient and balanced trade relationships. In this context, Turkey’s expanding partnership with the United States aligns with both nations’ interest in supply chain security, regional stability, and mutual economic growth.
What Comes Next?
Analysts expect that the momentum will continue in 2025, especially with upcoming trade fairs, government delegations, and business forums planned in both countries. The emphasis is now on expanding cooperation in technology, renewable energy, agriculture, and health sectors.
“We see strong interest from U.S. companies looking at Turkey as a hub for regional operations,” noted a board member from AmCham Turkey. “With the right structural reforms and regulatory improvements, Turkey can become a key player in global trade dynamics.”
The historic milestone of the U.S. becoming Turkey’s largest trade partner is not just a headline—it’s a clear indicator of an evolving relationship based on mutual interests and complementary strengths. With the ongoing efforts of TABA, AmCham Turkey, and both governments, the foundations are now stronger than ever for a sustainable and strategic economic alliance.
