Trade Balance in Turkey
Turkey - Trade Balance
The economy grew at a robust pace in the third quarter, despite cooling notably from the second quarter. The slowdown was driven by a softer expansion in household spending amid rising price pressures, while capital outlays contracted. The external sector contributed positively as exports increased at a strong pace amid an influx of tourists. Data for Q4 suggests that activity remained resilient at the outset of the period. Growth in industrial output and retail sales eased in October, but remained solid nonetheless. Moreover, the unemployment rate ticked down to a four-month low in the same month. However, consumer sentiment turned notably more pessimistic in the quarter and inflation reached a near two-decade high in December, weighing on household spending. Moreover, the economy experienced a tumultuous end to the year with significant lira volatility, which could see inflation rise further.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: Industrial output growth gains steam in November
January 14, 2022
Industrial output rose 11.4% compared to the same month of the previous year in November, which followed October's 8.7% increase.
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Turkey: Turkish lira ends 2021 on a rollercoaster ride
January 11, 2022
The Turkish lira suffered in the days ahead of the Monetary Policy Committee meeting on 16 December, and it ended the following day at a new record low of TRY 16.42 per USD. On 20 December, President Recep Tayyip Erdogan announced a new, radical plan to shore up confidence in the country’s battered currency.
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Turkey: Current account deficit moderates in November
January 11, 2022
The current account posted a USD 2.7 billion deficit in November, swinging from the USD 3.1 billion surplus recorded in October (November 2020: USD 3.6 billion deficit).
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Turkey: Inflation hits near two-decade high in December
January 3, 2022
Consumer prices jumped 13.58% from the previous month in December, jumping from the 3.51% increase logged in November.
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Turkey: Manufacturing PMI ticks up slightly in December
January 3, 2022
The Istanbul Chamber of Industry Turkey Purchasing Managers’ Index (PMI) rose fractionally from 52.0 in November to 52.1 in December, signaling a fairly stable improvement in business conditions from the prior month.
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