Turkish Economy - News & Updates

[AUz]

Foreign Trade Statistics, March 2014

Exports increased by 12.4% and imports decreased by 3%
According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in March 2014; exports were 14 748 Million Dollars with a 12.4% increase and imports were 19 943 Million Dollars with a 3% decrease compared with March 2013.
Foreign trade deficit decreased by 30.1%
In the same month, foreign trade deficit decreased by 30.1% from 7 437 Million Dollars to 5 195 Million Dollars.
In March 2014, exports coverage imports was 73.9%, while it was 63.8% in March 2013.
Seasonally and calendar adjusted exports increased by 3.6%
Seasonally and calendar adjusted exports increased by 3.6% and imports decreased by 0.8% compared with previous month. Calendar adjusted exports increased by 12.4% and imports decreased by 3.2% compared with March 2013.

Exports to the European Union (EU-28) increased by 13.5%
As compared with the same month of the previous year, exports to the EU-28 increased by 13.5% from 5 361 Million Dollars to 6 084 Million Dollars. The proportion of the EU countries was 41.3% in March 2014, while it was 40.9% in March 2013.
The main partner for exports was Switzerland
In March 2014, the main partner country for exports was Switzerland with 1 364 Million Dollars (1 275 Million Dollars of gold for non-monetary purpose exportation). Switzerland was followed by Germany (1 334 Million Dollars), Iraq (1 001 Million Dollars) and the United Kingdom (848 Million Dollars).
The top country for imports was Russia
In March 2014, the top country for Turkey’s imports was Russia (2 181 Million Dollars), records for imports range from China (2 043 Million Dollars), Germany (1 984 Million Dollars) and the USA (1 135 Million Dollars).

Ratio of exports of high-tech products in manufacturing industries was 3.4%
Foreign trade by technology intensity covers the manufacturing industries’ products in classification of ISIC Rev. 3. According to the ISIC Rev. 3, the ratio of manufacturing industries products in total export was 93.9% in March. The ratio of high-technology products in manufacturing industries was 3.4%. The ratio of medium-high-technology products in manufacturing industries was 30%.
Ratio of imports of high-tech products in manufacturing industries was 14.7%
The ratio of manufacturing industries’ products in total import was 77.1%. The ratio of high-technology products in manufacturing industries’ products was 14.7% in March 2014. The ratio of medium-high-technology products in manufacturing industries’ products was 43.1%

The next release on this subject will be on May 30, 2014.

Turkish Statistical Institute Foreign Trade Statistics March 2014

GREAT! This is the biggest challenge by Turkish economy. If Turkey is able to 'balance' its trade-deficit Inshallah, then it would be a mighty good sign for Turkey.

EGPYT COUP HURTS TURKISH BUSINESSES​

ISTANBUL — Aspolitical tension in Egypt escalated after last year's coup, Turkish businessmen and companies operating in the country have been affected. The new military-supported government began applying a systematic intimidation campaign against certain companies.

It is noted that bureaucrats who are close to Abdel Fattah al-Sisi, the former Commander- in-Chief of the Egyptian Armed Forces who staged a coup against the first democraticallyelected president in Egypt, caused major losses for some Turkish businessmen in the country.

Due to various troubles like arbitrary cancellation of business licenses and visa challenges, 43 Turkish investors had to terminate their trade relations with Egypt. Turkey's Ministry of Economy conducted a survey that confirms the increasing pressure on Turks operating business in Egypt.

Authorities reported that the activities of Turkish companies were obstructed in more than 20 titles in the last six months. "That is why 13 new investments were suspended and 30 Turkish companies had to go out of business," the officers from the Ministry of Economy noted. Businessman Özgün Altın remarked that the new Egyptian government purposely blocked investments. Noting that some public officers discriminate against businessmen with Turkish passports, Altın added, "If the officer is a proponent of al-Sisi, he takes your passport and moves you to the end of the line. He makes you wait for hours. Two machines we wanted to bring from Turkey have been kept in the port for 40 days. Because of these problems, 10 Turkish companies in Alexandria withdrew from Egypt."

Müftah Uçak, who manufactures pasta for Egypt, also stated that bureaucracy recently took aim against Turkey, especially regarding visa applications that exceed 10 days. "Transactions in public offices have become much more difficult and many files were swept under the rug. We are able to resolve such problems more quickly as we have a strong local partner in the area," he said.

Chairman of the Turkish-Egyptian Business Council Zuhal Mansfield said some of these unpleasant examples are due to the political atmosphere, but it is not a systematical approach. Mansfield noted that the Egyptian economy needs every dollar of investment and concluded, "Egypt is going through political and economic dire straits. However, we have to separate the economy from politics.

Egypt embraces investors from each and every country. Undoubtedly, there is serious political division and stress in the country. Yet, it would be unfair to generalize individual faults of bureaucrats for the whole country. We will hold a consultation meeting on May 14 to resolve the problems."

Egpyt coup hurts Turkish Businesses | Economy | Daily Sabah

Freaking Egyptians!

Turkey under AKP, Egypt under MB, and Iran under Rouhani (with sanctions lifted) would have formed the true back-boned of the middle-east and its political-economic stability....

But Egyptians ruined it for everyone.

 

[xxxKULxxx]

İşte 16 adet üretilecek milli hızlı trenimiz!

 

[[TR]AHMET]

İşte 16 adet üretilecek milli hızlı trenimiz!

Good news so we will keep our money inside

Bu hizli tren ihalesi icin avrupadan basbakana tehdit gelmisti dimi bu haber onlara guzel cevap olmustur.

 

[-SINAN-]

Good news so we will keep our money inside

Bu hizli tren ihalesi icin avrupadan basbakana tehdit gelmisti dimi bu haber onlara guzel cevap olmustur.

Keep English please.

Also... i hate how we label everything "National".... i saw it in the newspaper, national contribition is %51... most critical parts will coming from abroad.

Don't hear me wrong, these are good developments. Maybe we are going produce all of it's part s after a decade. But it's wrong to present it as "national" while all the critical parts are imported.

 

[[TR]AHMET]

Keep English please.

Also... i hate how we label everything "National".... i saw it in the newspaper, national contribition is %51... most critical parts will coming from abroad.

Don't hear me wrong, these are good developments. Maybe we are going produce all of it's part s after a decade. But it's wrong to present it as "national" while all the critical parts are imported.

Of course i know it my mate, no body can produce all parts as national even USA, these developments just good for us also these developments carry some messages to abroad

 

[LegionnairE]

Bu hizli tren ihalesi icin avrupadan basbakana tehdit gelmisti dimi bu haber onlara guzel cevap olmustur.

They have threatened the prime minister... for a development project... "the europeans"

I don't believe it

 

[-SINAN-]

Of course i know it my mate, no body can produce all parts as national even USA, these developments just good for us also these developments carry some messages to abroad

Mate, it's not as "nobody can produce all parts"... they do have technology to produce all part. But they split the work share in order to have increased production.

Whereas we can't produce critical parts and import them. There is much difference, i hope it will change in the future.

 

[xxxKULxxx]

Dev ihaleyi Türk şirketleri kazandı

 

[xxxKULxxx]

Question !..

What our country gains from these kind of constructions which are in foreing countries ?... I mean economically...

 

[xenon54 out]

Question !..

What our country gains from these kind of constructions which are in foreing countries ?... I mean economically...

The Companys make money, grow and have more employees, plus they pay more taxes for exsample.

 

[xxxKULxxx]

The Companys make money, grow and have more employees, plus they pay more taxes for exsample.

So we take taxes... Ok good...

I thought why would these companies pay tax to our country, because they work in another country so they should give tax to that country...

But thx for the good news... Do they count this money as export ?..

 

[xenon54 out]

So we take taxes... Ok good...
I thought why would these companies pay tax to our country, because they work in another country so they should give tax to that country...

Nope the company pays taxes where its registered, in this case in Turkey.

But thx for the good news... Do they count this money as export ?..

No, most probably only the service counts as an export but this doesnt appear in the export statistic of Turkey.

 

[xxxKULxxx]

Nope the company pays taxes where its registered, in this case in Turkey.


No, most probably only the service counts an export but this doesnt appear in the export statistic of Turkey.

Thx dude...

 

[trajanus]

Turkey reveals concept design of national high-speed train | General | Worldbulletin News

 

[trajanus]

İşte 16 adet üretilecek milli hızlı trenimiz!

Which country did you coop with?

Germany?Italy?spain?