Turkey’s $131.5 bln exports in 2008 to slide to $109 bln in 2009
Posted by meb at January 2nd, 2009
Turkey’s total exports in 2008 registered as much as $131.5 billion, while imports increased to $201.4 billion in the same term, Trade Minister Kursad Tuzmen announced on Friday based on figures recorded by the Turkish Statistical Institute (TURKSTAT). Exports are expected to decline $109 billion in 2009, he added.
Turkish exports are expected to fall to $109 billion in 2009 from $131.5 billion in 2008, while imports will dip by around a quarter, Tuzmen said.
Tuzmen said that imports in 2009 were seen at $151 billion, sharply down from the $201.4 billion as the global crisis, job loss worries and a weaker lira currency discourage Turkish consumers from buying imported goods.
“Turkey’s exports would have been $136 billion in 2008 if there were no crisis,” the minister said.
“We can state that the upward trend in exports will resume in 2010 and a real recovery will follow in 2011,” he said adding that Turkey will focus on the Balkans, North Africa and Latin America in 2009 to lift its exports.
The government is planning to extend loans and incentives to exporters in 2009 worth nearly $13 billion and exporters will be provided $1.8 billion short-term credit, he said.
Data from the Turkish Exporters Assembly (TIM) also said exports in 2008 went up 20.3 percent year-on-year to $127.5 billion, significantly less than the figure Tuzmen gave.
TIM’s data showed that exports in December tumbled 25 percent year-on-year to $7.11 billion, indicating a sharp slowdown in Turkey’s key export markets in Europe and elsewhere.
source: Hurriyet daily news
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