FOREIGN TRADE

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OUTLOOK OF TURKEY’S FOREIGN TRADE : You will find down below information pertaining to the performance of the Turkish Foreign Trade in 2007. This is to provide interested parties with a very clear picture of concerned structure to help them with their approach to this very fertile spot of the world.

The information is obtained from UNDERSECRETARIAT OF THE PRIME MINISTRY FOR FOREIGN TRADE and compiled for a faster review.

In 2007, exports of Turkey increased to USD 107.2 billion for an annual gain of 16.1 percent with imports moving up by 21.8 percent to USD 170 billion. The foreign trade growth in 2007 was more eminent than that of 2006.

Foreign trade volume expanded to USD 277.2 billion by rising 23.2 percent in the same period. On the other hand, the foreign trade deficit totaled USD 62.8 billion, increasing by 16.3 percent. The rate of increase in foreign deficit was lower than that of 2006.

Foreign Trade by Countries and Country Groups

The EU has the biggest share in Turkey’s foreign trade as a country group. Although the foreign trade volume between Turkey and the EU grew by 14.1 and 20.2 percent in the last two years, the EU’s share in Turkey’s foreign trade volume decreased by 1.2 percent and resulted as 46.5 percent in 2007 due to the high rates of growth in foreign trade with other countries. Turkey’s foreign trade deficit with the EU also diminished in both absolute and relative terms in the last two years.

Turkey’s foreign trade volume with 12 new members of the EU, the developing countries which were expected to bring dynamism to the EU, nevertheless accelerated with a slower pace when compared to the EU 15.

The foreign trade volume with the countries in Other Europe ascended parallel to the rise in the foreign trade deficit with the region. The share of the Russian Federation, the largest trade partner of Turkey in the region, incremented by 2.2 points in the previous two years and became 10.2 percent in 2007. Other Europe, which is a major supplier of mining products, constituted 37.3 percent of

Turkey’s foreign trade deficit in 2007.

Africa, which is a major exporter of energy and gold, composed 4.6 percent of Turkey’s total foreign trade volume in 2007, indicating a drop in the regional share. Turkish exports to the region exceeded imports from the region not only because exports to Africa are on surge but also because the Russian Federation and Iran became more dominant in Turkey’s oil and gas imports.

Turkey’s foreign trade volume with the North American Countries declined whereas foreign trade deficit with the region increased. This is because exports of clothing products, textiles, petroleum oils decelerated while imports of scrapped metals mounted.

The share of the American Countries in Turkey’s foreign trade volume declined by 0.9 points to 6.4 percent in the previous two years, i.e. the downward movement in exports to the region was more eminent than the progress in imports from the region. Ever stiffer global price competition is strongly effective in the region.

Near and Middle East is the (only) region that Turkey traditionally has a trade surplus. However, the trade surplus with the region shrank by 1.4 percent in 2006, due to the drop-off in exports of petroleum gas, cement and iron-steel to Iraq particularly attributable to the political instability. Trade surplus with the region recovered in 2007, incrementing by 3.8 percent.

The share of emerging countries of Other Asia in Turkey’s foreign trade volume is also rising. The regional share increased from 13.1 percent in 2006 to 14 percent in 2007, a figure very close to the shares of Near and Middle East and North Africa.

60 percent of imports from Other Europe are comprised of mining products, where exports of Turkey value approximately 30 percent of her imports from the region. Mineral fuels and oils make up about half of total imports from the region whereas manufactures (75 percent) dominate Turkey’s exports to the region. In 2007 the share of machinery and transportation equipment in exports to the region was 25 percent while it was 12 and 7 percent for textiles and clothing, respectively.

Among the Other European Countries, the Russian Federation is gaining share in Turkey’s foreign trade volume. Particularly the rise in energy prices increases Turkey’s trade deficit with the Federation. In 2007, the largest bilateral foreign trade deficit accrued with the Russian Federation, amounting to USD 18.8 billion.

First 30 Countries in Turkey’s Foreign Trade

Among the first 30 countries in Turkey’s foreign trade, there are 14 EU, 3 Other European, 5 Other Asian and 6 Middle Eastern and North African Countries. The remaining two are the US, the largest economy of the world, and Republic of South Africa, where gold is imported from.

Turkey’s imports from Iran, Iraq, Algeria, UAE, Kazakhstan, Saudi Arabia and Russia are mainly composed of mining products. In particular, 83 percent of imports from Russia, 98 percent of imports from Algeria and 73 percent of the imports from Saudi Arabia is made up of mining products. Specifically oil along with iron and steel are traded with such countries.

Foreign trade with the UAE, India, Ukraine, Kazakhstan, China and Romania marked the steepest growth rates in 2007.
Turkish foreign trade balance is positive with the United Kingdom, the UAE, Iraq, Israel, Greece, Israel and Romania among the first 30 countries in foreign trade volume.

Sectoral Breakdown of Foreign Trade Volume

Distribution of foreign trade volume to agricultural products, mining products and manufactures in 2007 is parallel to that of 2006.
The shares of manifactures, mining products and agricultural products in foreign trade equaled to 70.4, 20 and 7.1 percent in 2007, respectively.

30.2 percent of Turkey’s foreign trade volume were composed of machinery and transport equipment, 10.9 points of which were attributable to automotive products, while textiles, clothing and chemicals contributed by 11, 5.9 and 9.7 percent points in 2007.

EXPORTS

Turkish exports increased by 25.3 percent and reached USD 107.2 billion in 2007. The monthly average exports, USD 6.1 billon in 2005 and USD 7.1 billion in 2006, escalated to USD 8.9 billion in 2007.

Export growth decelerated for five quarters up until the first quarter of 2006 but accelerated in the following three quarters, as well as annually in 2007.

Monthly exports hit peak in November 2007 with a value of USD 11.3 billion. After a relative slowdown in 2006, export growth accelerated in 2007.

Exports by Sectors

In 2007, 9.1 percent of exports was agricultural products, 8.4 percent was mining products and 81.1 percent was industrial products. The share of other products in exports rose to 1.4 percent.

Exports of mining products, which increased by 42.7 and 38.3 percent in 2006 and 2007, gained share in aggregate exports. While the share of manifactures in exports practically stayed constant, the share of agricultural products in exports decreased from 11.3 percent in 2005 to 9.1 percent in 2007.

Exports of Agricultural Products

Exports of agricultural products ascended by 3.9 and 13.1 percent in 2006 and 2007 and attained a value of USD 9.8 billion. The share of agricultural products in total exports moved down from 10.1 percent in 2006 to 9.1 percent in 2007.
Agricultural products are classified as “food” and “agricultural raw materials”.

In 2006, “food” and “agricultural raw materials” were equal to 7.7 and 0.8 percent of Turkish exports, respectively. In 2007, the share of the former decreased to 7.3 percent and the latter had a share of 0.7 percent.

As a result, “food” is dominant in Turkish agricultural exports while “agricultural raw materials” play second fiddle. It is considered that an improvement in exports of “agricultural raw materials”, which form a bridge between industry and agriculture, would have positive consequences in the whole economy and in the social structure.

While the increase in “food” exports was 1.3 percent in 2006, it accelerated to 18.6 percent in 2007.
In 2006, the fall in hazelnut prices took exports of hazelnuts down, which in turn depressed exports of “food”. Exports of “hazelnut” and “processed hazelnut” decreased by 24.6 and 22.5 percent in 2006. Downward trend in exports of “food” continued but lost pace in 2007.

Exports of “olive oil” fluctuate as a result of the characteristic of olive which can be harvested once in two years. Exports of “olive oil” continued to fall in 2007 after dropping by 39.3 percent in 2006., attributable to the effects of severe drought more than the aforementioned structural fluctuation.

Exports of “flour” escalated from USD 273 million in 2006 to USD 424 million in 2007.
Exports of “beverages” increased by 19 percent to USD 161 million.

In addition, exports of “sunflower oil”, “citrus fruits”, “raisin” and “sugar” moved up, raising total exports of foods.
Exports of agricultural raw materials, which increased by 18.4 percent in 2006, decelerated to 8.6 percent and reached USD 762 million in 2007.

Exports of Mining Products

Exports of mining products increased by 42.7 and 38.3 percent in 2006 and 2007, respectively and surpassed USD 9 billion. The share of mining products in total exports increased from 6.2 percent in 2005 to 7.6 percent in 2006 and 8.4 percent in 2007. This was mainly due to the “petroleum, petroleum products” under the heading of “mineral fuels, lubricants and related materials” and “copper and aluminium” under the heading “non-ferrous metals”.

Exports of “petroleum, petroleum products” climbed up with a rapid pace in 2006 and 2007, 60.8 and 48.3 percent, respectively. More than half of exports of mining products were composed of “petroleum, petroleum products” in 2007.

Exports of Manufactures

The share of manufactures in total exports stayed in the range of 80-82 percent. “Automotive products”and “machinery” gained share in total exports.

Export performance of clothing sector improved in 2007. Clothing and textiles exports dropped in the US market.
“Iron and steel” exports accelerated recording a 32.1 percent increase in 2007.

The share of “chemicals” was 12 percent in world total exports but 4.4 percent for Turkey.

Professional, scientific and controlling instruments make up 2 percent of world total exports; but their share in Turkey’s exports are 0.3 percent.

Exports by Countries and Country Groups

Exports to Europe made up 66 percent of total exports while it was 14.2, 5.8 and 5.6 percent for Asia, America and Africa, respectively.

The most significant growth rates in exports were observed to EU-10, Other Europe, Other Asia and Near and Middle Eastern countries. It can be concluded that developing countries bring dynamism to Turkey’s export performance.

On the other hand, exports to EU-15, Other Europe, North Africa, and Other Asia accelerated in 2007. Despite the growing importance of developing countries, developed countries are still directly affecting the growth rate of total exports.

A general trend of improvement was observed when exports to countries and country groups is analysed. However, exports to free zones and North America decreased by 0.8 and 16.6 percent, respectively.

EU (27): EU, the major export market of Turkish products, has a share of 56.3 percent in total exports. 9.6 points of the regional share relates to twelve recently acceded countries, which demonstrate distinct economic and cultural parameters. Even though these countries have a small share in Turkish exports, their imports from Turkey is increasing in parallel to their rapid growth.

The main exported goods to the EU (15) and the EU (10) countries are “automotive products”, “clothing” and “textiles”.
In the EU(15) countries, “clothing” exports are more dominant whereas “textiles” exports are outstanding in more recently acceded countries, where “other transport equipment”-mainly ships- are also intensively exported.

Exports to Europe made up 66 percent of total exports while it was 14.2, 5.8 and 5.6 percent for Asia, America and Africa, respectively.

A general trend of improvement was observed when exports to countries and country groups is analysed. However, exports to free zones and North America decreased by 0.8 and 16.6 percent, respectively.

In the EU(15) countries, “clothing” exports are more dominant whereas “textiles” exports are outstanding in more recently acceded countries, where “other transport equipment”-mainly ships- are also intensively exported.

When exportrs to the EU in 2007 are considered;

-“Automotive products” exports increased by 37.9 percent and reached USD 12.4 billion;
-“Clothing” exports increased by 17.5 percent and reached USD 11.3 billion;
-“Electrical and non-electrical machinery and apparatus” exports increased by 36.9 percent and reached USD 5.2 billion;
-“Textiles” exports increased by 14.8 percent and reached USD 4.9 billion;
-“Iron and steel” exports increased by 48.8 percent and reached USD 3.8 billion;
-“Petroleum and petroleum products” exports increased by 21.7 percent and reached USD 1.5 billion;
-“Non-ferrous metals” exports increased by 28.2 percent and reached USD 1.1 billion;
-“Metalliferous ores and metal scrap” exports increased by 26.7 percent and reached USD 958 million;
-And “plastics” exports increased by 22.5 percent and reached USD 709 million.
The remarkable growth in the exports of “textiles” and “clothing” to more recently acceded the EU countries (79.9 and 27.3 percent, respectively) is notable.
On the other hand; exports of various products to the EU declined, such as:
-“Cereals and cereal preparations” (17.2%);
-“Animal and vegetable oils,fats,waxes” (44.9%);
-“Office machines and telecommunications equipment (11.5%);
-“Tobacco and tobacco manufactures (20.4%) and
-“Animal foods” (11.5%)

Other Europe: Turkish exports to the Other European countries rose considerably as a result of the jump in imports due to increasing energy revenues of these countries. Exports to the country group improved by 36.2 percent in 2007 and amounted to USD 10.8 billion. The share of this country group in Turkey’s total exports reached 10.1 percent.

The Russian Federation constituted 44 percent of Turkey’s total exports to the region. Romania and Bulgaria were excluded from Other Europe in 2007 due to their accession to the EU.

25.7 percent of the exports to the region were consisted of “machinery and transport equipment” whereas, the share of “textiles” and “other semi-manufactures” were 11.8 and 9.9 percent, respectively.

When exports to Other European countries in 2007 are considered;

-“Machinery and transport equipment” exports increased by 35.5 percent and reached USD 2.8 billion;
-“Textiles” exports rose by 31.9 and expanded to USD 1.3 billion;
-“Other semi-manufactures” exports advanced by 48.1 percent and amounted to USD 1.1 billion;
-“Chemicals” exports augmented by 27.6 percent and reached USD 910 million;
-“Clothing” exports grew by 43.5 percent and expanded to USD 737 million;
-“Petroleum and petroleum products” exports increased by 31.9 percent and amounted to USD 734 million;
-“Iron and steel” exports increased by 114.8 percent and reached USD 460 billion.

Textiles and clothing exports to the Other European Countries performed relatively high.

America: Exports to the continent decreased by 11.5 percent and contracted to USD 5.6 billion in 2007. Exports to the US accounted for 74.4 percent of total exports to America.

Exports to the US, which is still the largest economy of the world, decreased sharply (17.6 percent) and contracted to USD 4.2 billion. Stiff competition in the Pacific region played a considerable role in the deterioration of the exports to the US.
Remarkable drops in the exports of various products to the US were observed, particularly in “iron and steel”, “other transport equipment” and “clothing”. In addition, exports of mining products to the US declined by 19.3 percent.

In two years’ time, “clothing” exports to the US diminished by 24.6 and 36.9 percent, respectively and fell down to USD 515 million.
The growth rate of exports to Central and South America was below the average, reducing the share of the region in total exports to 1 percent and the value of exports to USD 1 billion. “Ships” and “automotive products” constituted 25 percent and 15 percent of the exports to the region, respectively.

Near and Middle East: Exports to the Near and Middle Eastern countries rose by 32.8 percent and reached USD 15 billion in 2007. Compared to the 11.1 percent export growth rate in 2006, there was an acceleration in 2007. The acceleration in exports were essentially attributed to the recovery in two sectors:

-45.9 percent escalation in the exports of mining products, which had previously declined by 38.5 percent;
-17.2 percent growth in the exports of “automotive products”, which had decreased by 5.7 percent in 2006;

The augmentation in the exports of “mineral fuels and oils” to Iraq was specifically outstanding. Nevertheless, 9.8 percent escalation in total exports to Iraq was quite low compared to the 30 percent boost in the exports to Iran.

Export performance to the Near and Middle Eastern Countries in 2007 can be summarised as the following:

– “Iron and steel” exports, which constituted more than one fifth of total exports, ascended by 45.2 percent.
-Exports of “other semi-manufactures”, which make up 12.8 percent of total exports to the region and which are mainly comprised of “cement” and “manufactures of metals”, increased by 26.6 percent.
-Exports of “agricultural products”, which constitute 11.4 percent of total exports to the region, slowed down and increased by 1.6 percent.

Other Asia: Although foreign trade balance has been decaying with the Other Asian countries, exports to the region have improved.

The export growth rate in 2007 was high compared to both previous years and other regions.
Exports to the region increased by 32.6 percent and amounted to USD 5.2 billion in 2007.
22.6 percent of total exports to the region was constituted of “mining products”, in particular “metalliferous ores and metal scrap” and “petroleum and petroleum products”. Exports of “mining products” to Other Asian Countries improved by 38.3 percent in 2007.

“Machinery and transport equipment”, especially “electrical and non-electrical machinery”, which represent 21.6 percent of the total exports to Other Asia, expanded by 26.1 percent in 2007.

“Agricultural products”, “chemicals” and “textiles” were other major products exported to the Other Asian Countries, with a share of 11.5, 10.4 and 9.7 percent in total regional exports, respectively. The 257 percent rise in the exports of “iron and steel” was striking.

In addition, exports of “agricultural products” and “textiles” moved up by 13.4 and 33.2 percent, respectively.
38 percent of exports to Other Asia are directed towards the Turkic Republics. The distribution of exports to the Turkic Republics was so that 14.4 percent were “chemicals”, 17.7 percent were “other semi-manufactures” and 12.8 and 11.1 percent were “other non-electrical machinery” and “electrical machinery”, respectively.

The share of the PRC in regional exports was approximately 20 percent in 2007. A bulk of this was “metalliferous ores and metal scrap”, constituting 65 percent of the exports to the PRC. Exports of “chemicals” and “automotive products” diminished in the examined period.

Africa: Exports to Africa rose by 30.9 percent and amounted up to USD 9 billion in 2007, 67.4 percent of which was related to the North African countries. On the other hand, the bull trend in exports to the Other African countries drifted to 2007 with a growth of 32 percent.

“Machinery and transport equipment” and “iron and steel” are the major products in the export composition to the North African Countries, which had a share of 27.5 and 20.8 percent in 2007, respectively. Manufactures comprised 83.8 percent of total exports to the region.

The share of “manufactures” in exports to Other African countries regressed from 79.5 percent in 2004 to 59.8 percent in 2007, as the share of mining products jumped to 23.5 percent with the rise in the exports of “petroleum and petroleum products.

The share of “machinery and transport equipment” in exports to the Other African Countries, equal to 24.6 percent, was comparable to that of the North African Countries.

Top 20 Countries In Exports

Top five countries in Turkish exports in 2007 were Germany, England, Italy, France and Russian Federation, in turn. Exports to England, France and Russian Federation expanded with a more rapid pace than aggregate exports.

Only in the US amongst top 20 countries a deterioration in the export performance was witnessed. Exports of various products to the US aggravated, with the most significant downturn in the exports of “iron and steel”.

The share of top 20 countries in exports waned by 1.5 and 0.9 points in the previous two years, respectively and fell down to 70 percent in 2007. The regression in the shares of the US by 2.8 points, of Germany with 1.7 points and of Iraq with 1 point are notable. The drop in the share of top countries in exports indicates an improvement in the regional diversification.

The following demonstrates the countries with the most significant export growth:

– UAE (63.2 percent), in particular exports of “iron and steel”,
-Greece (41.2 percent), the largest rise in the exports of “machinery and transport equipment”,
-Russian Federation(46.0 percent), particularly exports of “iron and steel” and “automotive products”,
-Romania (55.0 percent), noteworthy improvements in the exports of “iron and steel” and “machinery and transport equipment”
11 of these countries were EU members, 8 were non-EU Neighbouring and Surrounding Countries (Accession of Romania and Bulgaria into the EU was accomplished in the beginning of 2007.).
It may be concluded that geographical proximity in addition to the integration with the EU and the Strategy to Improve Economic and Commercial Relationships with the Neighbouring and Surrounding Countries has been effective in Turkey’s export orientation.

IMPORTS

The high economic growth aftermath the turmoil in 2001 brought forth an acceleration in imports. Imports moved up by 21.8 percent and attained a value of USD 170.1 billion in 2007 due to a number of factors relating back to 2002, such as the rise in energy and commodity prices, the appreciation in YTL and surging domestic demand with the economic growth.

Manufactures, mining products, agricultural products and other products, virtually gold, comprised 63.1, 27.6 5.8 and 3.5 percent of total imports in 2007, respectively.

Imports of agricultural products marked the most significant rise in sectoral terms. Imports of agricultural products climbed up by 34.7 percent from USD 7.3 billion to USD 9.8 billion.

In 2007, imports of agricultural products went up by 34.7 percent from USD 7.3 billion to USD 9.8 billion, mainly due to high import growth in the imports of “food”, which surged by 48.2 percent to USD 5.2 billion from USD 3.5 billion.
Imports of “cereals and cereal preparations”, a vastly imported agricultural product, quadrupled to a value of USD 1 billion due to the drought suffered in 2007, after decreasing slightly in the previous two years. It was mainly wheat among cereals that marked the most remarkable import rise in 2007, which soared to USD 534 million from mere USD 26 and 29 million in 2005 and 2006, respectively.

Imports of “vegetables and fruits” increased by 31.2 percent and reached USD 456 million. Banana, fruits in shell and leguminosaes indicated the most rapid acceleration among the products classified as “vegetables and fruits”.

Imports of “animal fats and vegetable oils” decreased by 11.1 percent from USD 933 million to USD 829 million. Imports of safflower, palm and soy oils had boosted the imports of “animal fats and vegetable oils” in 2006. However, growth rate of the imports of palm oil decelerated to 3 percent and palm oil imports totaled USD 263 million and imports of safflower, which is an input in biofuels, plummeted by 41.7 percent down to USD 138 million in 2007.

Imports of “agricultural raw materials” increased by 22.2 percent and reached USD 4.6 billion. Imports of cotton and syntethic fibres, which comprise more than half of imports of “agricultural raw materials” in total, amounted to USD 1,277 and 395 million, respectively. “Cork and wood”, “crude rubber” and “pulp and waste paper” can be named among other imported agricultural raw materials. Imports of crude rubber moved up by 17.7 percent to USD 723 million in 2007.

Mining products have had an important role in the augmentation of aggregate imports due to the soaring commodity and energy prices since 2005. Approximately ¾ of mining imports are “mineral fuels and oils”, which rose by 17.4 percent to USD 33.9 billion in 2007. In the related term, imports of “petroleum and petroleum products” and “petroleum gas” increased by about 16.5 percent each.

Imports of “metalliferous ores and metal scrap”, mainly consisting of iron and steel scraps used as an input, accelerated further and reached USD 6.7 billion. Imports of iron and steel scraps moved up by 43.9 percent to USD 5.6 billion in 2007, when imports of “non-ferrous metals” – mainly “copper and copper wires”, “aluminium and its products” and “zinc” amounting to a value of USD 2.8 billion, 2.2 billion and 500 million, respectively- also accelerated due to the upward trend in prices.
Energy stands to be influential in Turkish imports and has been gaining further share due to the escalation in energy costs since 2005. The share of energy in total imports increased from 15 percent in 2004 up to 18.2 and 20.8 in 2005 and 2006 before easing to 19.9 percent in 2007. USD 12.6 billion dollars of USD 53.2 billion augmentation in total imports in 2007, i.e. a quarter of the change in total imports, originated from energy imports.

The price of crude oil, an item classified in “mineral fuels, lubricants and related materials”, is monitored closely in the world stock exchanges and has strong effects on the world economic cycles. In this respect, developments in crude oil imports are further analysed in the following paragraphs.

The rapid escalation in oil prices increased Turkish energy costs. The cost of average crude oil imports to Turkey ascended from USD 50.5 in 2005 to USD 61.4 and 68.6 in 2006 and 2007, respectively. Although crude oil imports decreased by 2.5 million barrels in quantity, the more dominant rise in prices led to 10.1 percent higher cost of crude oil imports, totaling USD 11.8 billion.
Crude oil imports in quantity, which increased by 19.4 percent in the first quarter of 2007, declined annually by 1.4 percent from 174.4 million barrels down to 171.9 million barrels as a reaction to the rising prices.

The quarterly cost of average crude oil imports moved up to USD 84.8, increasing by 52 percent in the last quarter of the 2007 compared to the same period of 2006. As of 2007, the cost of average crude oil imports per barrel increased by 11.7 percent to USD 68.6.

If not for the rise in crude oil import costs in 2007, crude oil imports would have equaled to USD 10.5 billion and been USD 1.2 billion lower compared to the actual value.

Imports By Countries

The share of top 20 countries in total imports was 77.7 percent in 2007.

First two countries in Turkey’s imports were the Russian Federation with a share of 13.8 percent and Germany with a share of 10.3 percent in 2007. The rise in energy prices and the Russian Federation’s gaining share in Turkish energy imports brought forth the Russian Federation as the top country in Turkish imports.

Similar to the case with the Russian Federation, imports from Iran increased by 17.5 percent and reached USD 6.6 billion.
Another leading country in Turkey’s imports was the People’s Republic of China (PRC), imports from whom constituted 7.8 percent of total imports and amounted to USD 13.2 billion. Imports from PRC increased by 40.4 and 36.9 percent in 2006 and 2007, respectively. PRC has been gaining share in the imports f various products such as “office machines and telecommunications equipment” “electrical machinery and apparatus”, “clothing made of leather and fur”, “other clothing apparels”, “construction materials”, “cork and wood”, “travel goods” , “furniture and parts”, “footwear” and “textiles”.

-2010    84 percent of total imports of “travel goods, handbags and similar containers”,
-2011    49 percent of total imports of “footwear”,
-2012    28 percent of total imports of “furniture”,
-2013    26 percent of total imports of “clothing made of leather and fur”,
-2014    35 percent of total imports of “office machines and telecommunications equipment”,
-2015    24 percent of total imports of “electrical machinery and apparatus”,
-2016    16 percent of total imports of “construction materials”,
-2017    16 percent of total imports of “manufactures of metals”
are originated from PRC.