TR Economy & Updates

[Kedikesenfare]

Let's also mention that the imports for the year are 364$ billion which means that Turkiye has a trade deficit for 2022 of a whopping 110$ BILLION DOLLARS!

What an amazing achievement indeed...

You'r right but the trade data is secondary. What counts is the current account deficit which is still high but not as high as the trade deficit.

The current account deficit is estimated to be 45 billion USD for 2022. Still very high but, honestly, not a number that couldn't be lowered significantly with the right policies in place.

However, 2023 is election year. Expecting worse.

 

[TheInsider]

Great news from ZY electrical tractor. The company successfully got EU type certificate for its electrical tractor.

https://twitter.com/i/web/status/1609919312537747456

 

[what]

Bulgaria in talks with Turkey on long-term gas deal

Bulgaria's interim energy minister is in Istanbul on Friday for talks he hopes will lead to a deal this month on long-term access to liquefied natural gas (LNG) terminals in neighbouring Turkey and the transit of the gas to its border.

www.reuters.com

 

[Tsenal]

Let's also mention that the imports for the year are 364$ billion which means that Turkey has a trade deficit for 2022 of a whopping 110$ BILLION DOLLARS!

What an amazing achievement indeed...

No 3 trade deficit in the world

 

[Deliorman]

No 3 trade deficit in the world

110$ billion trade deficit in a year, 2.5 million new retirees that will suck dry hundreds of billions of Turkish liras from the state coffers, big increases in the minimum wages and the wages of state employees, decreasing interests while the official inflation is 90%... And all that months before an election. Erdogan is ready to bankrupt the country. We were laughing at Greece back in the days but they at least have countries to help them out and lend them money... Turkey will be fucked Venezuela/Zimbabwe style soon.

 

[Zapper]

 

[Zafer]

110$ billion trade deficit in a year, 2.5 million new retirees that will suck dry hundreds of billions of Turkish liras from the state coffers, big increases in the minimum wages and the wages of state employees, decreasing interests while the official inflation is 90%... And all that months before an election. Erdogan is ready to bankrupt the country. We were laughing at Greece back in the days but they at least have countries to help them out and lend them money... Turkey will be fucked Venezuela/Zimbabwe style soon.

This has never happened in the past 20 years but who cares.

 

[Xenon54]

This has never happened in the past 20 years but who cares.

You talk like the economy has not taken a nosedive since 2013.
What more do you want, that the people return to village barracks?

 

[Zafer]

You talk like the economy has not taken a nosedive since 2013.
What more do you want, that the people return to village barracks?

The only time people had difficulty getting along was in the heat of the pandemic. Even then Türkiye fared better than most nations.

 

[Xenon54]

The only time people had difficulty getting along was in the heat of the pandemic. Even then Türkiye fared better than most nations.

An your claim is based on what? The fact that Erdogan claims that Germans envy Turks?

 

[Zafer]

An your claim is based on what? The fact that Erdogan claims that Germans envy Turks?

You certainly know very little about Türkiye, so I will save my breath.

 

[Xenon54]

You certainly know very little about Türkiye, so I will save my breath.

Very good decision.

 

[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.