Since the 1980s, the simultaneous increases in both direct foreign investment flows and international trade, alongside the rise of globalization, have drawn attention to the relationship between the two. Additionally, many countries have started to compete more aggressively to attract investments, realizing the potential benefits of direct foreign investment. Particularly, developing countries have offered significant incentives for direct foreign investments, which they view as a tool for increasing exports. However, studies on the effects of direct foreign investment on exports have yielded very different results. The aim of this study is to conduct a bibliometric analysis of research examining the relationship between direct foreign capital investments and foreign trade. In this study, scanning and bibliometric analysis techniques have been applied. A total of 107 studies have been conducted in the literature regarding the effects of direct foreign capital investments on foreign trade or based on mutual causality relationships. Most studies have been conducted on a country basis, accounting for approximately 39% of the total.