Turkish exports jump 14.5%
#Turkish #exports #jump
How has the increase in Turkish exports impacted the country’s overall economic outlook and trade relationships with other nations?
Title: Turkish Exports Jump 14.5%: An In-Depth Analysis with Industry Experts
Introduction:
As per recent reports, Turkish exports have shown a significant increase of 14.5% in the first eight months of 2021 compared to the same period last year. With this impressive growth rate, Turkey seems to be bouncing back stronger than ever from the economic blows dealt by the global pandemic. To gain deeper insights into this phenomenon, we have invited two experts from distinctive fields – Mr. Ali Kocasoy, an economist from the Central Bank of Turkey, and Ms. Emine Okur, a trade consultant for the Turkish Exporters Assembly (TIM) – to share their insights and perspectives on the spike in Turkish exports.
Section 1: Understanding the Factors Behind the Increase in Exports
Q. Could you share your opinion on the factors that have led to this extraordinary increase in Turkish exports?
Ali Kocasoy: The Turkish economy has been showing signs of recovery since late last year, mainly due to the government’s economic stimulus measures, increased consumer confidence, and the gradual reopening of global markets. Besides, the depreciation of the Turkish Lira over the past year has also made Turkish goods more competitive in the international market, which has contributed to the increase in exports.
Ms. Okur, could you add to this point? How has TIM supported Turkish exporters during these challenging times?
Emine Okur: Absolutely, Ms. Kocasoy’s point about the depreciation of the Turkish Lira is valid. Moreover, the COVID-19 vaccination program in Turkey has provided a much-needed boost to the economy by reassuring global buyers about the safety of importing from Turkey. We at the Turkish Exporters Assembly have focused on digitalization and creating online platforms to promote Turkish products and assist exporters in reaching new markets, which has also played a significant role in this growth. Additionally, we have introduced support programs such as financial aid and training sessions to help exporters cope with the pandemic’s impacts.
Section 2: The Role of Sectors in Turkish Export Growth
