Exports in Turkey

Turkey Exports (%) | Economic News & Forecasts

Turkey - Exports (percent change)

The economy likely recorded a dismal fourth quarter, as the impact of the August 2018 currency crisis continued to reverberate. The manufacturing PMI was firmly in contractionary territory throughout the period on shrinking output and new orders, while business sentiment was decidedly pessimistic. Moreover, consumer spending was hit by higher interest rates, still-elevated inflation and depressed household sentiment, with retail sales declining sharply in October and vehicle sales plummeting throughout Q4. This comes after comprehensive data showed that GDP growth slowed sharply in Q3 on soft private consumption and fixed investment. More positively, the lira has recovered substantial ground since September, while external rebalancing continues apace, with a third consecutive monthly current account surplus in October. On the political front, President Erdogan announced a second 110-day plan in December. According to the president, it contains projects worth TRY 24 billion, which could provide a mild boost to demand going forward. Moreover, the government recently extended temporary tax cuts until the end of March, in a bid to fight inflation and support consumer spending.

Turkey - Exports (%) Data

2013  2014  2015  2016  2017  
Exports (annual variation in %)-0.1  4.4  -11.0  -1.2  11.7  

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Turkey Facts

ValueChangeDate
Bond Yield14.50-0.09 %Jan 30
Exchange Rate5.23-0.85 %Jan 30
Stock Market114,1891.41 %Jan 30

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