Turkey is Australia’s 35th largest trading partner, with a total of A$1.8b worth of goods and services traded in 2016, making up 0.3% of Australia’s total trade portfolio. Total merchandise trade (exports + imports) with Turkey totalled A$1.5b in 2016. Australian exports to Turkey comprised of coal, medicinal equipment, and live animals. Imports from Turkey comprised of gold, fruit/nuts, goods vehicles and cement.
Service exports to Turkey are minuscule, at A$92m. Turkish student enrolments in Australia numbered over 1650 (0.3% of total overseas enrolments) in 2016. However, Turkey’s budding mining industry has attracted Australian firms specialising in mining equipment, technology and software solutions—GHD, Ausenco, Coffey Mining, Minecom and Immersive Technologies to name a few.
Bilateral investment between Turkey and Australia is meagre. Australian investment in Turkey was worth A$750m in 2016 (0.05% of Australia’s total foreign investment portfolio). But experts believe that Turkey can become a major player in global gold production in the near future. This has already provided opportunities for Australian mining firms, including Alacer Gold, Invictus Gold and Chesser Resources.