Turkish Economy - News & Updates

[-SINAN-]

Turkey’s first half exports surge 2.5 percent to USD 74.7 billion

Turkey sold products worth USD 74.66 billion in the first half of this year -- a 2.5 percent increase from over a year ago – according to data from the Turkish Exporters' Assembly (TIM), sending positive signals for year-end goals.


At a press conference held in the southeastern Anatolian province of Batman, TIM announced that Turkish exports were growing despite problems and a diminishing demand by major trade partners. The country owes its success in maintaining stable growth in exports to diversifying its target markets. Turkey sells goods to 241 countries and expects to commence exports to two new countries shortly.


Turkey experienced the highest increase in exports of mining products, with 30 percent between January and June over a year ago. Most goods sold overseas were industrial products, with USD 58.75 billion in the first half of the year. The agriculture sector saw its exports hit USD 10.1 billion in the same period.


The Turkish government had earlier set its target to reach USD 158 billion in exports in 2013. The fast-emerging Organization for Economic Cooperation and Development (OECD) member sold products worth 152.5 billion in 2012, with a 13.1 percent rise over 2011.

 

[-SINAN-]

Turkcell T40- Gebze

Design and software made by Turkish Engineers, production in China. After 2013 T40 is planned to be produced in Turkey.

 

[what]

Thick bezel, hardware keys and no stock Android pfft.

But seriously out of all those consumer electronics manufacturers in Turkey one should be able to produce cpus and those lcd screens, not just assembling it in Turkey.

 

[Bismarck]

Account decifit probably will be around 70-75 billion USD for 2013 year also current external debt is 660 billion USD.

External debt is 660 billion USD??? Wow! The reason for your account deficit can not only be your energy import...

 

[olcayto]

External debt is 660 billion USD??? Wow! The reason for your account deficit can not only be your energy import...

Don't believe everything blindly

External debt is about half of that figure.

Trade deficit is created by increased energy demand and stagnating demand of Turkish products from the European union due to the economic crisis the e.u is currently in.

 

[LegionnairE]

Actual Turkish economy is much bigger, but we have huge unaccounted economy due to corruption.

 

[T-123456]

Thick bezel, hardware keys and no stock Android pfft.

But seriously out of all those consumer electronics manufacturers in Turkey one should be able to produce cpus and those lcd screens, not just assembling it in Turkey.

Doesnt Vestel have LCD screens?

 

[olcayto]

Doesnt Vestel have LCD screens?

Nope,

They make pretty much everything that goes into the tv apart from the screen it self.

 

[Jamaal Yelmaaz]

Account decifit probably will be around 70-75 billion USD for 2013 year also current external debt is 660 billion USD.

You r wrong. Turkey's total extetnal dept is 350 billions-$ as of june 2013
And more, only 110 bilions-$ of 350 billions-$ external debt is publicly(govermental) debt. Namely, 110 billions is public and 240 billions-$ is PRIVATE DEPT. as percentage %30-%70

External debt is 660 billion USD??? Wow! The reason for your account deficit can not only be your energy import...

Turkeys total external debt (Private+Public) to her GDP is 37 %. It is a very reasonable and smart figure relatively to average ratio of EU that is about 80%. Germany total external debt is reach about to 80%

 

[Bismarck]

Actual Turkish economy is much bigger, but we have huge unaccounted economy due to corruption.

I red somethink like 30% of GDP. That's crazy! You need a better tax-system and supervisory body.

 

[what]

I red somethink like 30% of GDP. That's crazy! You need a better tax-system and supervisory body.

We have come a long way, even that number is remarkable but still bad.

 

[Bismarck]

You r wrong. Turkey's total extetnal dept is 350 billions-$ as of june 2013
And more, only 110 bilions-$ of 350 billions-$ external debt is publicly(govermental) debt. Namely, 110 billions is public and 240 billions-$ is PRIVATE DEPT. as percentage %30-%70



Turkeys total external debt (Private+Public) to her GDP is 37 %. It is a very reasonable and smart figure relatively to average ratio of EU that is about 80%. Germany total external debt is reach about to 80%

If you do deb, two things are to consider:

1 For what do I use it?
2 Can I pay it back?

For example: Dept to buy a car, with no cahnce for pay off, is a bad decision. Dept for buy a power plant is a good decision. It depends for which one use the money, too.

 

[Bismarck]

We have come a long way, even that number is remarkable but still bad.

In my opinion, this could be the reason, for the high oil price at the gas stations in your country.

 

[olcayto]

In my opinion, this could be the reason, for the high oil price at the gas stations in your country.

Exactly.

High tax rates on oil are a way to compensate for the big tax fraud that is going on in turkey. I don't agree with this method, but I can understand and accept it as a gap stop, as long as they will put reforms to counter the core of the problem.

Second smaller reason is to make people use gasoline less to contain the trade deficit in a controllable level.

About the debt issue. As far as what I remember most of it has been used for infrastructure, industry and agriculture.

 

[-SINAN-]

Exactly.

High tax rates on oil are a way to compensate for the big tax fraud that is going on in turkey. I don't agree with this method, but I can understand and accept it as a gap stop, as long as they will put reforms to counter the core of the problem.

Second smaller reason is to make people use gasoline less to contain the trade deficit in a controllable level.

About the debt issue. As far as what I remember most of it has been used for infrastructure, industry and agriculture.

Easy for you to talk from Holland. Gas price passed 5 TL a few days ago. Most of my coworkers stopped to use their cars for coming work.