Trade Balance in Turkey
Turkey - Trade Balance
Available data continues to point to an economic recovery in the third quarter. Industrial output rebounded strongly in July–August on an annual basis from the steep fall logged in Q2, amid surging manufacturing production, which grew at the sharpest rate in over two years in August. Moreover, business confidence swung to optimistic territory in the quarter as the general business climate improved and export expectations turned rosy. However, household spending likely remained relatively subdued, despite consumer credit growth picking up notable steam in the quarter, as consumer confidence did not improve and inflation remained elevated. In the political arena, Finance Minister Berat Albayrak presented the new economic program for 2021–2023. The program—which envisages 5.8% GDP growth next year—focuses on strengthening innovation, value-added production and exports to drive growth.Turkey - Trade Balance Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | -49.0 | -39.9 | -58.6 | -40.8 | -16.7 |
Turkey Trade Balance Chart
Source: Central Bank.
Turkey Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 12.00 | -0.09 % | Dec 31 |
| Exchange Rate | 5.95 | -0.85 % | Jan 01 |
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Economic News
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Turkey: Inflation increases to over one-year high in March
April 6, 2021
Consumer prices increased 1.08% from the previous month in March, picking up from February's 0.91% increase.
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Turkey: Manufacturing PMI rises in March
April 1, 2021
The Istanbul Chamber of Industry Turkey Purchasing Managers’ Index (PMI) rose to 52.6 in March from 51.7 in February.
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Turkey: Business confidence reaches near three-year high in March
March 26, 2021
Business confidence in Turkey rose to a near three-year high 110.8 in March from 109.3 in February.
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Turkey: Consumer confidence ticks up to multi-year high in March
March 24, 2021
Consumer confidence rose to a multi-year high of 86.7 in March from 84.5 in February; however, the index remained markedly below the neutral 100-threshold that separates pessimism from optimism among consumers. The uptick was driven by a broad-based improvement with views on the current financial situation and the expected financial situation in the year ahead turning less downbeat, while attitudes towards the general economic situation over the next 12 months and likelihood of spending also improved.
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Turkey: Central Bank aggressively tightens stance in March
March 18, 2021
At its 18 March meeting, the Monetary Policy Committee of the Central Bank of Turkey raised the one-week repo rate by 200 basis points from 17.00% to 19.00%.
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