TR Economy & Updates

[Nilgiri]

https://www.mfa.gov.tr/turkey_s-commercial-and-economic-relations-with-china.en.mfa

Main Import Items to Türkiye: Phones for cellular/other wireless networks, automatic data processing machines and units, tools for receiving, translating and exporting audio-video and other information, compressor, converter

As of 2021, China has managed to become the top destination for Turkish imports (US$2.412 billion), followed by Russia (US$2.173 billion), Germany (US$2.129 billion), the US (US$1.99 billion), and Italy (US$93 million).

In 2020, Chinese exports to Türkiye amounted to US$22.1 billion, divided into three main categories of products: broadcasting equipment (US$1.98 billion), computers (US$1.24 billion), and non-retail synthetic filament yarn (US$459 million).

On the other hand, Turkish exports to China were worth US$2.93 billion, with marble, travertine, and alabaster being the top traded products (US$540 million), followed by precious metal ore (US$175 million) and refined copper (US$162 million).


We have to half the import from China.If you go to supermarket,lots of plastic items are from China.

By now,Chinese GDP PER capita and Income is higher than us,why we have to import every things from China?

A) China likely has inflated its official GDP lot more than Turkey (and world generally) does. You will see what this means this decade and next.

B) China is an immense country, so an average "per capita" means populations several times the size of Turkey that are below Turkish income level....sometimes well below. This means labour cost advantage in lot of industries especially with the forex stockpile subsidy China largely deliberately accumulated on top for this reason.

C) Its not really about how much you import from China as long as Turkiye exports sufficiently to whole world to cover (especially its inelastic) imports in total. Then develop larger surpluses from that with time (letting your businesses keep growing, competing, learning and adapting as they can to world environments broadly).

If Turkiye invested fairly as it should have in last 10 years into factories + core input industry relative to where its labour force was (back then) and is (today) instead of using real estate as default big sponge for this (which does not provide a hard production return past what it can do w.r.t tourism to some degree)...it would have higher degree of comparative advantage to harness with its main markets and new markets.

The problem with tourism as large revenue to go all in is its seasonality and vulernability (as found out in Covid era especially). Thats why supply chain factories have to be the base of pyramid, not real estate (this is an extra you do as is reasonable).

But it didn't do this prioritisation and carries deadweight, crediblity and confidence problem now (maybe slowly being worked out).

A boxer in middleweight category that can punch pretty well but didnt train footwork dynamically....he still has to buy and intake (inelastic) calories, and scrapes by lower winnings because of it. He can only tighten belt so much...the answer lay in training regimen he did so far that was not comprehensive, so many things are squandered now with what he stuck with as result.

 

[B_A]

A) China likely has inflated its official GDP lot more than Turkey (and world generally) does. You will see what this means this decade and next.

B) China is an immense country, so an average "per capita" means populations several times the size of Turkey that are below Turkish income level....sometimes well below. This means labour cost advantage in lot of industries especially with the forex stockpile subsidy China largely deliberately accumulated on top for this reason.

C) Its not really about how much you import from China as long as Turkiye exports sufficiently to whole world to cover (especially its inelastic) imports in total. Then develop larger surpluses from that with time (letting your businesses keep growing, competing, learning and adapting as they can to world environments broadly).

If Turkiye invested fairly as it should have in last 10 years into factories + core input industry relative to where its labour force was (back then) and is (today) instead of using real estate as default big sponge for this (which does not provide a hard production return past what it can do w.r.t tourism to some degree)...it would have higher degree of comparative advantage to harness with its main markets and new markets.

The problem with tourism as large revenue to go all in is its seasonality and vulernability (as found out in Covid era especially). Thats why supply chain factories have to be the base of pyramid, not real estate (this is an extra you do as is reasonable).

But it didn't do this prioritisation and carries deadweight, crediblity and confidence problem now (maybe slowly being worked out).

A boxer in middleweight category that can punch pretty well but didnt train footwork dynamically....he still has to buy and intake (inelastic) calories, and scrapes by lower winnings because of it. He can only tighten belt so much...the answer lay in training regimen he did so far that was not comprehensive, so many things are squandered now with what he stuck with as result.

Thank you.

1.we had large deficit with natural resources countries like Russia and Iraq Iran.

2.we also had large deficit with industrial countries ,mainly China also German and korea and japan

3.we had a little surplus with US,UK and other countries

TOGG (and other Electric Vehicles company like GÜNSEL) is a good start we have to push them.

 

[Huelague]

https://www.mfa.gov.tr/turkey_s-commercial-and-economic-relations-with-china.en.mfa

Main Import Items to Türkiye: Phones for cellular/other wireless networks, automatic data processing machines and units, tools for receiving, translating and exporting audio-video and other information, compressor, converter

As of 2021, China has managed to become the top destination for Turkish imports (US$2.412 billion), followed by Russia (US$2.173 billion), Germany (US$2.129 billion), the US (US$1.99 billion), and Italy (US$93 million).

In 2020, Chinese exports to Türkiye amounted to US$22.1 billion, divided into three main categories of products: broadcasting equipment (US$1.98 billion), computers (US$1.24 billion), and non-retail synthetic filament yarn (US$459 million).

On the other hand, Turkish exports to China were worth US$2.93 billion, with marble, travertine, and alabaster being the top traded products (US$540 million), followed by precious metal ore (US$175 million) and refined copper (US$162 million).


We have to half the import from China.If you go to supermarket,lots of plastic items are from China.

By now,Chinese GDP PER capita and Income is higher than us,why we have to import every things from China?

China is a big problem.

 

[B_A]

China is a big problem.

Yes that's a country can't even product a good quality pistol.

In these 10 years Our defence products such as tb2 and small arms beat them many times but our civil product badly defeated.The deficit become larger.

We go to supermarket and AVM so many Chinese products or using Chinese parts

 

[UkroTurk]

Not düşülsün ...Biz Herşeyi Kötülemiyoruz....

Türkiye is now a global actor in the defense industry



Naki BAKIR. MAKRO LOOK [email protected]

Wednesday, August 30, 2023

Türkiye with the public and private sector; land, sea and air vehicles, space systems, heavy and light weapons, radar and electronic warfare systems, etc. With hundreds of products produced in the defense industry, it is now making a name for itself in the world.

On the 101st anniversary of the 30 August victory, which the Turkish soldier, who did not even have shoes to wear, showed great heroism with insufficient weapons and ammunition and despite extremely scarce resources, Turkey has now become an important power that has made a name for itself in the defense industry in the world.

On the anniversary of the great victory, the Turkish defense industry sector has attained a gigantic structure in which hundreds of manufacturing companies operate, produce products with a high added value of 12.2 billion dollars on an annual basis, export around 4.4 billion dollars and employ 81 thousand 132 people. The sector draws attention with its advanced technology studies, which are vital for the defense of the country.

With the public and private sectors that have made important breakthroughs in the defense industry in recent years, Türkiye; With hundreds of products produced in categories such as land, sea and air vehicles, space systems, heavy and light weapons, radar and electronic warfare systems, communication and electronic systems, integrated security systems, it is both a self-sufficient country in the defense industry and in the field of international defense industry. became an important actor.

Türkiye artık savunma sanayiinde küresel aktör

Kamu ve özel sektörü ile Türkiye; kara, deniz ve hava araçları, uzay sistemleri, ağır ve hafif silahlar, radar ve elektronik harp sistemleri vb. alanlarda ürettiği yüzlerce ürünü ile savunma sanayiinde artık dünyada adından söz ettiriyor.

www.dunya.com

 

[B_A]

Türkiye’s economy expanded 3.8% year-over-year in the second quarter of 2023, better than the market forecast, according to data released by the country’s statistical authority on Thursday.

The country’s gross domestic product (GDP) at current prices surged 60.7% from last year to TL 5.5 trillion ($271.5 billion) in the April-June period, the Turkish Statistical Institute (TurkStat) said.


Economists had expected Türkiye’s economy would grow 3.5% on an annual basis in the second quarter.

 

[B_A]

Finally if

1.No more new disaster like covid

2.We overcome the current deficit problem

We can be as good as G7 within 10 years.

Inflation and currency problem mainly because of 2.

 

[Lool]

Iam really loving Mehmet Simsek transparency about Turkey's situation. He is a good minister that is for sure
He is level-headed and knows what he is doing
If Erdogan doesnt interfere, Simsek will be the one saving Erdo's ass in the future
Erdogan prepared a good economic team after the last presidential elections


@UkroTurk , it seems that the recent sale of FX reserves was apparently as mentioned due to the accumulated KKM accounts

Translation:
The claim that the Central Bank intervened in the exchange rate by selling reserves by considering the level target does not reflect the truth.
@ali_hakan_kara 's messages were a good explanation of the situation.
As the Treasury and the Central Bank, we continue to work intensively to develop and make attractive capital markets and TL instruments.
We will overcome all problems in time.

https://twitter.com/i/web/status/1697260173881233638

 

[uçuyorum]

Iam really loving Mehmet Simsek transparency about Turkey's situation. He is a good minister that is for sure
He is level-headed and knows what he is doing
If Erdogan doesnt interfere, Simsek will be the one saving Erdo's ass in the future
Erdogan prepared a good economic team after the last presidential elections


@UkroTurk , it seems that the recent sale of FX reserves was apparently as mentioned due to the accumulated KKM accounts

Translation:
The claim that the Central Bank intervened in the exchange rate by selling reserves by considering the level target does not reflect the truth.
@ali_hakan_kara 's messages were a good explanation of the situation.
As the Treasury and the Central Bank, we continue to work intensively to develop and make attractive capital markets and TL instruments.
We will overcome all problems in time.

https://twitter.com/i/web/status/1697260173881233638

A politician agreeing with and sharing someones post criticizing them and their policies? What country is this?

 

[Lool]

A politician agreeing with and sharing someones post criticizing them and their policies? What country is this?

He is criticising his predecessor's policies and agreeing that some things could have been prevented if he acted faster
Which isnt a wrong thing to do
The economy is unstable, with good, above-expectations, high growth and horrible high inflation that needs to be fixed and Simsek isnt shying away from stating what is wrong and what is right

Honestly, nothing but Respect for that

 

[Rodeo]

He should make TUIK a trustworthy institution again. TUIK should be transparent and publish the inflation basket it uses for its calculations.

 

[Huelague]

Yes that's a country can't even product a good quality pistol.

In these 10 years Our defence products such as tb2 and small arms beat them many times but our civil product badly defeated.The deficit become larger.

We go to supermarket and AVM so many Chinese products or using Chinese parts

Look at our trade volume with China. The government has taken steps to prevent further trade deficit with China.

 

[Bozan]

https://twitter.com/i/web/status/1697558941461278788

Kizilay shopping mall owned by Turkish red crescent bankrupt

 

[Agha Sher]

https://twitter.com/i/web/status/1698606239750500727

 

[B_A]

SEP 04, 2023 11:44 AM
Turkish exports hit an all-time high for August with a 1.6% rise to $21.6 billion (TL 578.38 billion) on an annual basis, according to preliminary data shared by the Trade Ministry on Monday.

Turkish imports dropped 6.3% from last year to $30.5 billion.


The country's foreign trade gap amounted to $8.9 billion in August, falling 21.2% year-over-year.

Germany continued to be the main recipient of Turkish exports with $1.8 billion in August, followed by the United States with $1.3 billion, Iraq with $1.09 billion, the United Kingdom with $1.06 billion and Italy with $877 million.


The country’s largest imports were from China with $3.8 billion in the month. Russia followed with $3.4 billion, Germany with $2.56 billion, the United Arab Emirates (UAE) with $2.08 billion and Switzerland with $1.49 billion.

In the January-August period, Türkiye's outbound shipments edged down 0.4% year-over-year to $164.9 billion, while imports grew 3.5% to $247.3 billion.

As a result, the country's trade deficit widened by 12.1% to $82.4 billion.

Still losing money to China

 

[Huelague]

Still losing money to China

Increase taxes of Chinese import products by 200%.

 

[Ryder]

SEP 04, 2023 11:44 AM
Turkish exports hit an all-time high for August with a 1.6% rise to $21.6 billion (TL 578.38 billion) on an annual basis, according to preliminary data shared by the Trade Ministry on Monday.

Turkish imports dropped 6.3% from last year to $30.5 billion.


The country's foreign trade gap amounted to $8.9 billion in August, falling 21.2% year-over-year.

Germany continued to be the main recipient of Turkish exports with $1.8 billion in August, followed by the United States with $1.3 billion, Iraq with $1.09 billion, the United Kingdom with $1.06 billion and Italy with $877 million.


The country’s largest imports were from China with $3.8 billion in the month. Russia followed with $3.4 billion, Germany with $2.56 billion, the United Arab Emirates (UAE) with $2.08 billion and Switzerland with $1.49 billion.

In the January-August period, Türkiye's outbound shipments edged down 0.4% year-over-year to $164.9 billion, while imports grew 3.5% to $247.3 billion.

As a result, the country's trade deficit widened by 12.1% to $82.4 billion.

Still losing money to China

I worked with so many Chinese people they know to fleece people and they work like ants.

You just cant compete with them.

Work like ants is a postive trait.

 

[B_A]

I worked with so many Chinese people they know to fleece people and they work like ants.

You just cant compete with them.

Work like ants is a postive trait.

The real reason is the white captalists love them,such as Musk.

They work and study likes ants,get good results on papar test,but unless the white captalists gave them the technology,

they were even far backward than late Ottomans

 

[Ryder]

The real reason is the white captalists love them,such as Musk.

They work and study likes ants,get good results on papar test,but unless the white captalists gave them the technology,

they were even far backward than late Ottomans

True but bro their education man. Chinese students study like ants even destroy white kids.

Even at a Islamic school which I went to Asian students normally were a minority even they destroyed lots of Arab and Turkish students with ease.

Their parents dont accept any kind of failure plus they have discipline like ants do.

 

[B_A]

True but bro their education man. Chinese students study like ants even destroy white kids.

Even at a Islamic school which I went to Asian students normally were a minority even they destroyed lots of Arab and Turkish students with ease.

Their parents dont accept any kind of failure plus they have discipline like ants do.

Yes they are invincible in papar test and get results,only Indians can match them in western countries.

But in practice we will win such like TAI and Baykar keeping defeat CHinese giant drone company.

Our childrens didnt won on papar but won on the drone competition in the tenofast.