Exports in Turkey
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
|Exports (annual variation in %)||-0.1||4.4||-11.0||-1.2||11.7|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||14.50||-0.09 %||Jan 30|
|Exchange Rate||5.23||-0.85 %||Jan 30|
|Stock Market||114,189||1.41 %||Jan 30|
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April 22, 2019
Consumer confidence in Turkey rose from 59.4 in March to 63.5 in April, marking the highest reading since August last year.
April 16, 2019
Industrial production dropped 5.1% year-on-year in February on calendar-adjusted terms, which is an improvement compared to the downwardly revised 7.4% contraction in January (previously reported: -7.3% year-on-year).
April 11, 2019
The current account deficit widened slightly to USD 718 million in February from a revised USD 589 million in January (previously reported: USD 811 million deficit); however, the print is down markedly from the USD 3.8 billion deficit recorded in February 2018.
April 1, 2019
At the close of the first quarter of 2019, Turkey’s manufacturing remained in a tough spot despite an uptick in the Purchasing Managers’ Index (PMI) to 47.2 from 44.6 in February.
March 25, 2019
The Real Sector Confidence Index published by the Central Bank increased from 97.2 in February to 112.1 in March, the third consecutive monthly improvement.