Page 44 - Araştırma Raporu 2019
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2.2 FOREIGN TRADE BALANCE

   TURKEY ECONOMY                                                                                                               YEARS                                        NON-CLEAR DOMESTIC REVENUES




                                                                                                                                2015                                                               1.953.561 Million TL
       2.1 ECONOMIC DEVELOPMENTS                                                                                                2016                                                               2.608.526 Million TL



                                                                                                                                2017                                                               3.104.907 Million TL

       ·      At its meeting held on December 13, the CBRT kept the one-week repo rate, which is the policy
                                                                                                                                2018                                                               3.700.989 Million TL
       rate, at 24%.
       ·      The contraction in industrial production continues by deepening. According to the calendar                        2019                                                               4.280.381 Million TL
       adjusted data, the industrial production index decreased by 9.8% on an annual basis in December and
       displayed its worst performance since June 2009.
       ·      Sanayi üretimindeki daralma derinleşerek devam ediyor. Takvim etkisinden arındırılmış verilere
       göre sanayi üretim endeksi Aralık'ta yıllık bazda %9,8 gerileyerek Haziran 2009'dan bu yana en olumsuz                 2.3 FOREIGN TRADE INDICATORS
       performansını sergiledi.
       ·      Credit rating agency S&P, Turkey's credit rating to "B +" as affirmed, outlook to "stable" as its left.                       FOREIGN TRADE INDICATORS IN 2019
       ·      In April, CPI increased by 1.69% on a monthly basis and was below market expectations. Annual
       consumer inflation was 19.5% during this period.                                                                         Export                                        171.531.000.000 $
       ·      At the Monetary Policy Committee meeting on April 25, CBRT kept the policy rate unchanged at
       24% in line with the expectations. CBRT did not change its inflation forecasts for 2019 and 2020 in the                  Imports                                   210.4 Million Dollars $
       second Inflation Report of the year.
                                                                                                                               Foreign Trade Volume                    135 Billion 991 Million $
       ·      According to the chained volume index of Turkey's economy in the first quarter of 2019
       compared to the same period of the previous year declined by 2.6%.                                                      Current Account Deficit                          2.798.000.000 $
       ·      Domestic markets, which were under heavy selling pressure in May, compensated their losses
       significantly with purchases coming towards the end of the month.                                                        From Export to Import Rate                                %84,6
       ·       Moody's downgraded Turkey's credit rating to B1.
       ·      Following the G20 summit due to positive expectations for the US-Turkey relations, the domestic
                                                                                                                              While there was a decrease Turkey's imports in 2018, it is
       market has made a positive start to the month of July.
                                                                                                                              observed that the increase in export figures. Compared to
       ·      Fitch lowered Turkey's credit rating to BB- level.
                                                                                                                              the previous year, exports increased by 7% and imports
       ·      Manufacturing PMI, which declined to 46.7 in July, increased to 48 in August.
       ·      The foreign trade deficit increased by 1.2% to 2.5 billion USD in August compared to the same                    decreased by 4.6%.
       month of the previous year. In this period, export volume expanded by 1.6% to 12.5 billion USD, while
       import volume increased by 1.5% to 15 billion USD.
       ·      The government announced the New Economy Program at the end of September, covering the                          2.4 TOP 10 EXPORT AND
       years 2020-2022 and including medium-term targets.
       ·      Current account balance posted a surplus of 2.6 billion USD in August. The 12-month cumulative
       current account surplus reached a historic high of 5,1 billion USD in the same period.                                 IMPORT COUNTRIES
       ·      CBRT, which published its Inflation Report on October 31st, reduced its inflation forecast for the
       end of this year to 12%.
       ·      According to the provisional data announced by the Ministry of Trade, the export volume in                       COUNTRY NAME          EXPORT VALUE       COUNTRY NAME           IMPORT VALUE
       November was 15.5 billion USD, while imports rose by 9.2% to 17.6 billion USD. Thus, the foreign trade                     Germany           14.957.542,59 $          Russia           22.454 million dollar
       deficit, which was 672 million USD in November last year, was realized as 2.1 billion USD in this period.                   England           10.748.549,90 $          China            18.497 million dollar
       ·      The central government budget deficit widened by 177% on an annual basis in October to reach                           Italy            9.212.514,65 $        Germany            17.977 million dollar
       14.9 billion TL. In the first 10 months of the year, the central government budget deficit increased by 62%                    USA              7.892.896,84 $           USA             11.490 million dollar
       to 100.7 billion TL.                                                                                                        Spain             7.703.805,04 $           Italy           8.612 million dollar
                                                                                                                                    Iraq             7.683.620,62 $          India            6.594 million dollar
                                                                                                                                   France            7.587.802,16 $         France            5.426 million dollar
                                                                                                                                Netherlands         5.368.903,89 $          England           6.381 million dollar
                                                                                                                                    Israil           4.352.862,62 $       South Korea         5.649 million dollar

   6                                                                                                                               Russia            3.874.386,19 $         Iranian           4.152 million dollar                         7
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