TR Economy & Updates

[KKF 2.0]

Even with the pandemic, it performed better than the previous years

On a side note: 'tiny', 'backward', 'underdeveloped' Poland is exporting 230 Billion USD this year - a new record.

Cam's right, our export volumes are a big problem.

 

[mulj]

On a side note: 'tiny', 'backward', 'underdeveloped' Poland is exporting 230 Billion USD this year - a new record.

Cam's right, our export volumes are a big problem.

Proximity of germany helps but you are right, Turkey should be better then
Poland regarding export volumes.

 

[Huelague]

Update: $166bn until 25th of December.

A ridiculous number. I will start to applause if we reach $1. trillion export. Import 2020? Any numbers?

 

[KKF 2.0]

A ridiculous number. I will start to applause if we reach $1. trillion export. Import 2020? Any numbers?

İhracat kasımda geçen yılın aynı ayına göre yüzde 0,95 azalarak 16 milyar 88 milyon dolar, ithalat yüzde 16,07 artarak 21 milyar 158 milyon dolar oldu.

Mod Edit: Exports decreased by 0.95 percent in November compared to the same month of the previous year to 16 billion 88 million dollars, imports increased by 16.07 percent to 21 billion 158 million dollars.

 

[Turko]

On a side note: 'tiny', 'backward', 'underdeveloped' Poland is exporting 230 Billion USD this year - a new record.

Cam's right, our export volumes are a big problem.

İt was 30 years ago. Now Ukranians travel to Poland for work. There are 2-3 million labours from Ukraine. Poland With South Korea have became economically developed countries from growing league.
Moreover Poland is the first rival of Türkiye in the realm of textile and plastic. They are f...ng mass producing.

 

[Huelague]

Everything else than $ 500 billion export is not worth mentioning. Of course with a trade surplus.

 

[Turko]

A ridiculous number. I will start to applause if we reach $1. trillion export. Import 2020? Any numbers?

1 trillion usd export!!!?? You need massive producers such as Hyundai and Samsung in order to reach 1 trillion usd export. We haven't got any international brands.

 

[mulj]

1 trillion usd export!!!?? You need massive producers such as Hyundai and Samsung in order to reach 1 trillion usd export. We haven't got any international brands.

1 trilion economy shoul be aim first, 300 usd export volume short term target, i see that trains to china goes reguluary, we will se what effect it will give next year, that market is so huge that you could rise volumes just to export pistaccio for example amd similiar things.

 

[Turko]

1 trilion economy shoul be aim first, 300 usd export volume short term target, i see that trains to china goes reguluary, we will se what effect it will give next year, that market is so huge that you could rise volumes just to export pistaccio for example amd similiar things.

Agricultural export can't skyrocket an economy. Export to China would just increase pistachio price in Turkey where the prices are expensive as hell. Let Turkish people eat foods. We had better export something else but foods.

 

[Sinan]

Even with the pandemic, it performed better than the previous years

Turkish media tend share very selected information.

Dış ticaret rakamları açıklandı

İhracat 2020 yılı ocak-eylül döneminde 111 milyar 948 milyon dolar oldu.

www.milliyet.com.tr

When you look at with the previous year. Imports increased on a greater scale with Exports. Many experts points out that %85 imports are raw material and intermediate goods. So when we raise exports, imports also increase. We really need to reform our industry.

 

[mulj]

Agricultural export can't skyrocket an economy. Export to China would just increase pistachio price in Turkey where the prices are expensive as hell. Let Turkish people eat foods. We had better export something else but foods.

It was just ilustration to emphasize posibilities now that you have fast access to chinese market, your bussiness should figure it out what you can sell there, for example high quality beaf is opportunity too, point is what some market niche on particular state market in europe, in china that is size of whole economy for small states. Today chinese people have money to spend and will have it more and more in future, you just need to figure out how to recognize best on what exactly and what you can offer to them.

 

[Huelague]

1 trilion economy shoul be aim first, 300 usd export volume short term target, i see that trains to china goes reguluary, we will se what effect it will give next year, that market is so huge that you could rise volumes just to export pistaccio for example amd similiar things.

Let me give you some examples. An update of customers Union with EU would bring us 2% more of GDP by OECD. We can bring our trade volume with Iran to $ 100 billion, which was targeted during Ahmedineyad terms of office. A FTA with US can bring a trade volume up to $100 billion .
North Iraq, before Arab spring, North Iraq, was our second or third important trading partner. China, India , Africa, so many potential. Hell even a tinny country like Netherlands exporting agriculture products worth to $ 100 billion! By OBOR we can reach Turkic nations better by our goods and services.

 

[mulj]

Let me give you some examples. An update of customers Union with EU would bring us 2% more of GDP by OECD. We can bring our trade volume with Iran to $ 100 billion, which was targeted during Ahmedineyad terms of office. A FTA with US can bring a trade volume up to $100 billion .
North Iraq, before Arab spring, North Iraq, was our second or third important trading partner. China, India , Africa, so many potential. Hell even a tinny country like Netherlands exporting agriculture products worth to $ 100 billion! By OBOR we can reach Turkic nations better by our goods and services.

Glad that you recognized it, you are big country with lot of comparitive advanteges to exploit those opportunities, rest is upto you.

 

[mulj]

We should focus on Chinese and Indian tourists. A huge market. Problem is RTE f**** up everything with his f**** mouth.

Nope, problem is inertion of your companies, i have friend in istanbul who owns factory in china and export world wide, very pro erdogan person, obviousky that is not the obstacle. That kind of mindset is obstacle itself.

 

[the]

I know its a defence forum but I am actually intrigued, what should Turkey's main goal be for 2023?

2023 vision goals proposed by Erdogan (in 2010)

Yes, it is vital to improve security and boltster the defence industry, given that Turkey is possibly the most military active country (as side form USA). But I feel like the growing nationalism should be used to improve the economy first and then branch out. Turkey has a high % of gdp spent on defence (2.5%) yet a country such as Germany spends (1.2%) of GDP.

What is the overall outcome? - Germany spends 2.5x as much. If Turkey focused on building an export orientated economy, several more defence projects can be established and completed faster rate in the long term.

Since the high of 2014, GDP has significantly contracted, and unemployment has risen. The goal of $2 trillion GDP by 2023 is unrealistic but $1 trillion could be achieved. The pandemic has shown that relying on Tourism is a serious risk and without the immediate change in ministerial leadership Turkey would truely be in the sh*t.

2021 should be used to tackle unemployment and re-install economic confidence. In the short term low cost labour should taken advantage of, but in the long term the necessary R&D should be undergone to integrate AI/technology based manufactering - boosting economic efficency.


On a side note: Why should Turkey have to comprimise (with Russia) in its own backyard?

Turkey needs to capture the central asian market before China buys out everyone. Putin makes it look like he is still in charge of former Soviet states, however as it stands, a number of Turkic countries are interested in re-aligning with Turkey. I would imagine the majority of the Turkic population would rather live/work in country that it relatively modern and has close links to Europe then live in stagnancy.


Further reading: https://www.gfmag.com/global-data/economic-data/emerging-markets-hot-spots-2020

 

[Deliorman]

İt was 30 years ago. Now Ukranians travel to Poland for work. There are 2-3 million labours from Ukraine. Poland With South Korea have became economically developed countries from growing league.
Moreover Poland is the first rival of Türkiye in the realm of textile and plastic. They are f...ng mass producing.

It’s one thing to have Germany, Central Europe and Scandinavia next to you while getting 20-30€ billion a year from EU funds/grants and completely another to Border the Caucasus, Balkans, Iran, Iraq and Syria.

Of course that Turkey should be much higher in GDP, exports and financial might but its a bit hard to do it while being in the “ghetto” of the World.

 

[adenl]

It’s one thing to have Germany, Central Europe and Scandinavia next to you while getting 20-30€ billion a year from EU funds/grants and completely another to Border the Caucasus, Balkans, Iran, Iraq and Syria.

Of course that Turkey should be much higher in GDP, exports and financial might but its a bit hard to do it while being in the “ghetto” of the World.

Indeed. A country in the EU can achieve a lot when it is protected from all sides in a roman-like tortoise formation. Turkey is the unlucky chap who is send out entirely on its own to trigger boobytraps.

 

[Huelague]

Indeed. A country in the EU can achieve a lot when it is protected from all sides in a roman-like tortoise formation. Turkey is the unlucky chap who is send out entirely on its own to trigger boobytraps.

Does Poland has same access to Russia, ME, NE, Africa or Caucasia as we have? NO!

 

[what]

The FTA deal with UK is only maintaining the status quo we had with the EU Custom Union, now that the UK is officially leaving. Its not expanding anything, but maybe in the future as implied in the media.

Exports growing is nice and all, but first step should be to balance exports and imports. We should compare to similar countries. Mexico is almost exporting 500bln in goods and services. We are late to the exporting game and have a lot of catching up to do. Biggest pain in the ass is our net import of oil and gas. Which is not as much of a problem, as other resource poor countries such as Germany show.

More high value exports in goods and services and more renewables to tackle the current account deficit.

Even agriculture as mentioned could play a role here, but our argriculture is still stuck in the last century. We need more efficiency and more output. Learn from the best such as the Netherlands or Spain.

A country with the advantages of Turkey should be able to produce more than enough food for itself (currently we are not) and export billions € of fresh produce. We have enough sun to run the entire country, but we are still importing oil and gas.

 

[Deliorman]

Does Poland has same access to Russia, ME, NE, Africa or Caucasia as we have? NO!

Bro, they actually directly border Russia through Kalinigrad oblast (plus Russia’s wealthiest regions St. Pete and Moscow are a few hundred kilometers by road from Poland). Yet still you can take all of the Middle East, Russia and Central Asia and the Caucasus it still won’t make 1/3 of EU markets, economy, importance.

Poland directly borders EUs heartland and some of it’s wealthiest nations plus their infrastructure is connected to them. Belgium, Austria, Switzerland, Netherlands, France etc are closer to Poland than Gaziantep or Sivas are to Istanbul... forget about ME or Russia etc.

The real money, investments and know how to build a great economy can be found only in just 3 economic super regions- Western Europe, North America and East Asia. The rest is hot air.