The first half of the year is over. According to Turkish Exporters Assembly data, the export of Turkey increased by 1.8% and is recorded as 11.9 billion USD.
In the first half of the year, the export decreased by 3.8% in value compared to previous year. However, the export increased by 6.5% in quantity in the same term.
Our Economy Is Growing by Discovering Turkey's Potential
in Just the Same Way as Our Brand
Turkey's economy has been growing in spite of the depression in the world trade and the negativity in some neighbour countries of Turkey such as Russia, Iraq, and Syria which have significant ration in our total export number. Turkey's growth has continued for 26 quarters by 5.1% on average. The last year's growth rate was 4%.
In the recent term, the growth was mostly dependent on consumption and public expenditures. The growth - which is investment-exporting oriented - is more sustainable. Our economy needs to grow by producing more. More investment means more production and accordingly more export.
There Are Positive Developments in Current Deficit and Foreign Trade Deficit
One of another topics I want to mention is the positive developments in current deficit and foreign trade deficit. Between January and June, the foreign trade deficit of Turkey decreased by 16.8% and occurred 27.8 billion USD.
We can see positive figures in current deficit. Between January and April, current deficit dropped by 25.1% and went to 10.8 billion USD.
Likewise, manufacturing industry capacity ratio is going on rising. The capacity ratio of Turkey increased by 1.3% and rose to 76.1%.
R&D Expenditures and Budget Figures are Pleasing
The ratio of Research and Development expenditures in GDP increased to 1.01% for the first time in 2014. This ratio was about 0.48% in 2003. When we examine the R&D expenditures of developed countries, we see the 3.5-4% R&D expenditures of all GDP. As we always pointed out, by the help of R&D investments, we will produce innovative products and go the export up with value added products and services.
"Economy Package” is a Kind of Ramadan Feast Present for Us
"New Economy Package” declared by Binali YILDIRIM - the Prime Minister of Turkey - is a kind of Ramadan Feast present for us.
We, as Turkish Exporters Assembly and Exporters Association, made a number of suggestions. In new economy package, there are lots of advantages like green passport right and the bank loans easiness. We are going to support our government every time.
We are more hopeful for the second half of 2016 thanks to positive view in comparison with previous year.
Deputy Chairman of Turkish Exporters Assembly
President of Denizli Exporters Association