In 2004, trade between Turkey and Russia was worth some $11 billion. By the end of August 2005, this figure reached almost $10 billion, and it is expected by both Moscow and Ankara to increase to $25 billion by 2007. Russia is Turkey's second-largest trading partner after Germany, while Turkey is Russia's 14th trade partner. Russia exports to Turkey fuel and energy products (72% of total), as well as metals (16%) and chemical goods (4%). Turkey, in turn, sells textiles (30%), machinery and vehicles (23%), chemical goods (15%) and food products (15%) to Russia.
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