The euro, which is the official currency in 20 of the 27 member states of the European Union (EU), came into force “dematerialized” on January 1, 1999.
This currency, introduced into daily circulation after a three-year transition period, was introduced in the form of banknotes and coins on January 1, 2002 and began to be used in daily circulation.
The euro is currently used by Germany, Austria, Belgium, Estonia, Finland, France, the Netherlands, Ireland, Spain, Italy, the Greek Cypriot Administration of Southern Cyprus (GCASC), Latvia, Lithuania, Luxembourg, Malta, Portugal, Slovakia, Slovenia and Greece used and Croatia 26 years have passed until today.
Turkey places particular emphasis on trading other currencies besides the Turkish lira, and the increase in trading of other currencies, particularly the dollar and the euro, over the years has attracted attention.
The trading volume with the euro was $221.7 billion last year
According to the Turkish Statistics Institute (TUIK), the country's exports in euros amounted to $80.8 billion and imports to $68.8 billion in 2020, when the Covid-19 epidemic broke out. The trading volume with the euro in the year in question was calculated at 149.6 billion dollars.
Exports in euros rose to $103.7 billion in 2021 and imports to $78.8 billion; the trade volume in the said currency was $182.5 billion during this period.
While Türkiye achieved exports of $113.7 billion in euros in 2022, the amount of imports increased to $88.1 billion. Thus, the trading volume with this currency reached 201.8 billion dollars in the mentioned period.
Trade in the euro accelerated in 2023. This currency was used for $117.8 billion in exports and $103.9 billion in imports during the period. The country's trade volume with the euro increased to $221.7 billion in 2023.
Total trade in the euro has reached nearly $1 trillion over the past five years
In the 11 months of 2024, exports in euros will be $112.2 billion and imports will be $94.6 billion. During the same period, a trading volume of $206.8 billion was recorded.
Thus, Türkiye's exports in euros amounted to $528.2 billion and its imports to $434.1 billion in about 5 years. During this period, the total trading volume with the euro reached $962.3 billion.
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