TR Economy & Updates

[CAN_TR]

Imports increased by 34.3%
Exports increased by 12.9%

But everything is fine... right? I just don't understand how people can see those official numbers and keep believing the opposite or even play down the current economic situation...

 

[Zafer]

Imports increased by 34.3%
Exports increased by 12.9%

But everything is fine... right? I just don't understand how people can see those official numbers and keep believing the opposite or even play down the current economic situation...

Do the imports include gold?

 

[Lool]

Imports increased by 34.3%
Exports increased by 12.9%

But everything is fine... right? I just don't understand how people can see those official numbers and keep believing the opposite or even play down the current economic situation...

The numbers are quite deceiving tbh
Most of the current increase in the import figures is due to the gas prices soaring to its highest levels in 2022 as well as the gas imports which have been soaring so that the govt can replinish its stocks! On the other hand, exports were quite healthy with Turkey entering into new markets within new continents; a decent 12.9% increase with Europe, Turkey's greatets export market, undergoing a recession is a miracle

Rn, the massive trade deficit isnt the key but the Current account. Price stability is dependent on exchange stability and this is dependent on the current account (which the trade deficit is only a part of). Last month current account deficit was only 300 million dollars and hopefully Turkey may start recording surpluses from November onwards, whose data will be released on the 11th of January

 

[Xenon54]

The numbers are quite deceiving tbh
Most of the current increase in the import figures is due to the gas prices soaring to its highest levels in 2022 as well as the gas imports which have been soaring so that the govt can replinish its stocks! On the other hand, exports were quite healthy with Turkey entering into new markets within new continents; a decent 12.9% increase with Europe, Turkey's greatets export market, undergoing a recession is a miracle

Rn, the massive trade deficit isnt the key but the Current account. Price stability is dependent on exchange stability and this is dependent on the current account (which the trade deficit is only a part of). Last month current account deficit was only 300 million dollars and hopefully Turkey may start recording surpluses from November onwards, whose data will be released on the 11th of January

This explains why the trade deficit only became a problem since 2021.

 

[Huelague]

Do the imports include gold?

Divide tourism revenue ($30-40 billion) and FDI (x$). How much deficit left?

 

[Zafer]

We can subtract tourism revenues and also the money paid to import gold as it is no different than money. The year 2022 is probably the last time we record a high trade deficit as the energy imports peaked and will only go down in the future considering also the new found domestic petrol and gas sources coming online.

 

[Huelague]

BIST 100 lost ~ 900 points. Why?

 

[Zafer]

BIST 100 lost ~ 900 points. Why?

Because it had gained unjustifiably too much before. Once the stock market hits the ceiling it comes back to where it deserves to be.

 

[Xenon54]

Because it had gained unjustifiably too much before. Once the stock market hits the ceiling it comes back to where it deserves to be.

Were you not accusing me of being pessimistic about everything in Turkey when i pointed out exactly this?
So you knew and underrstood exactly what i was saying but choose to resort to assumptions, why am i not surprised?

 

[Zafer]

Were you not accusing me of being pessimistic about everything in Turkey when i pointed out exactly this?
So you knew and underrstood exactly what i was saying but choose to resort to assumptions, why am i not surprised?

I don't know what you said, even if what you said has some truth in it you make it sound so biased and one sided there is no chance to get the truth across to you so I would rather pass than bother.

 

[Xenon54]

I don't know what you said, even if what you said has some truth in it you make it sound so biased and one sided there is no chance to get the truth across to you so I would rather pass than bother.

So you dont remember what i said but still assume it was biased, dude, for real..

 

[Huelague]

Were you not accusing me of being pessimistic about everything in Turkey when i pointed out exactly this?
So you knew and underrstood exactly what i was saying but choose to resort to assumptions, why am i not surprised?

I have an other suspicion loose of BIST 100 points. Looks "handmade".

 

[Xenon54]

I have an other suspicion loose of BIST 100 points. Looks "handmade".

People bought cheap stocks with their dollars for short term profit, its like bitcoin, volatile markets have big up sand big downs due to short term investors.

 

[Knowledgeseeker]

With regard to economic relations with foreign countries, 43 percent of Moroccans preferred stronger economic relations with Turkey, while 42 percent said they preferred strengthening them with the United States of America, and 40 percent supported strong economic relations with the Kingdom of Saudi Arabia.

The survey was conducted by 2 000 Moroccans across the kingdom.

source: assahifa

 

[TheInsider]

BIST will bounce back long-term looks promising. BIST was 2400 points in June 2022. Now it is slightly under 5000. It doubled in 6 months. All people see is the recent 800-900 point loss because people buy a stock today and want to be rich tomorrow. And people buy at a high price and expect it to go even higher. You should be buying when the stock is at a low point.

 

[B_A]

BIST will bounce back long-term looks promising. BIST was 2400 points in June 2022. Now it is slightly under 5000. It doubled in 6 months. All people see is the recent 800-9000 point loss because people buy a stock today and want to be rich tomorrow. And people buy at a high price and expect it to go even higher. You should be buying when the stock is at a low point.

Now still 4900,not low.

I bought it 2000-2300 ,mainly THY because i think after covid end THY must increase

 

[No Name]

I want to point out that Turkey's GDP was $957.8 billion USD in 2013, which is $1,220,277,418,579.39 after adjusting it to 2023 inflation numbers. Turkey's is short $278,277,418,579 to reach its 2013 GDP numbers.

in case anyone was wondering Turkey's current GDP, according to wiki is $942 billion which is worth $739,379,084,020.39 in 2013.

 

[Zafer]

The truth about GDP of Türkiye with IMF numbers. Purchasing power keeps soaring while nominal GDP stagnates, affected by the war between lira ₺ and the dollar $.

Economy of Turkey - Wikipedia

en.wikipedia.org

 

[Tornadoss]

The truth about GDP of Türkiye with IMF numbers. Purchasing power keeps soaring while nominal GDP stagnates, effected by the war between lira ₺ and the dollar $.

View attachment 52945

Economy of Turkey - Wikipedia

en.wikipedia.org

I guess maybe purchasing power of rich soaring but average people are getting poorer.

 

[Zafer]

I guess maybe purchasing power of rich soaring but average people are getting poorer.

Based on what metric?
Türkiye is pretty much a classless society with no major divides between groups of people. The Gini index is used for a metric but it does not tell much. Numbers are rather outdated but you can check out the link below. Türkiye has 41.9 while the US has 41.1 in 2019 and 2018 respectively. I bet it is better in 2023.

Gini Coefficient by Country 2024

worldpopulationreview.com