TR Economy & Updates

[Lool]

Germany has a population of around 80 million, which is about the same as Turkey. It also has major energy dependence issues. It's a valid comparison.

Agreed
And not surprisingly, Germany is an Export nation as well

 

[Glass🚬]

We are not an export nation

on the path to become one

Turkey Exports

Exports in Turkey increased to 21090 USD Million in February from 19991.42 USD Million in January of 2024. This page provides the latest reported value for - Turkey Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey...

tradingeconomics.com

 

[Ryder]

on the path to become one

Turkey Exports

Exports in Turkey increased to 21090 USD Million in February from 19991.42 USD Million in January of 2024. This page provides the latest reported value for - Turkey Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey...

tradingeconomics.com

Made in Turkey is starting to have the reputation of being good quality while being cheap especially for the price.

Made in Germany is still seen as the best of the best while Made in China has the worst reputation for being cheap and poor quality

 

[Glass🚬]

Turkish health care company becomes official supplier to NASA

Turkish multinational health care firm Invamed-RD Global has become an official supplier to the United States' National Aeronautics and Space...

www.dailysabah.com

 

[Saithan]

Turkey's assets abroad total $297 bln in August​

ANKARA-Anadolu Agency​

Turkey's external assets stood at $297.4 billion by the end of August, up 16.4 percent from the end of 2020, according to Turkish Central Bank data released on Oct. 18.

Liabilities against non-residents fell 9.1 percent to $589.7 billion during the same period.

The net international investment position (NIIP) – the gap between Turkey’s external assets and liabilities – shrank to minus $292.3 billion in August.

The NIIP was minus $393.1 billion at the end of 2020.

Showing a snapshot in time, the NIIP – which can be either positive or negative – is the value of overseas assets owned by a nation, minus the value of domestic assets owned by foreigners, including overseas assets and liabilities held by a country’s government, the private sector, and its citizens.

Reserve assets, a sub-item under assets, jumped 26.2 percent to $117.8 billion, the data showed.

Other investments, another sub-item under assets, stood at $121.1 billion in August, an 11.8 percent increase from the end of last year.

Turkey's assets abroad total $297 bln in August - Latest News

Turkey's external assets stood at $297.4 billion by the end of August, up 16.4 percent from the end of 2020, according to Turkish Central Bank data released on Oct. 18.

www.hurriyetdailynews.com

___________________________________
I'd very much like to know how our External assets are diversified. I doubt it's a good idea to have too many assets in countries that will deny you access to it.

 

[Turko]

EUR 10.81 USD 9.31
New anti-record

 

[Cypro]

EUR 10.81 USD 9.31
New anti-record

Same thing happens over and over again.. RTE orders lowering interests to negative, TCMB either follows his nonsense or tries to delay.. Lira loses value in the process.. Then he cuts the head of Central Bank.. lira crushes harder because of mistrust. Of course before all these.. some shadowy friends sell all their lira and take position. This time gladly I am safe.. I decide not to use Tayyip Lira anymore in any case.. what he is doing to money is a crime and pure corruption.

 

[Anastasius]

Same thing happens over and over again.. RTE orders lowering interests to negative, TCMB either follows his nonsense or tries to delay.. Lira loses value in the process.. Then he cuts the head of Central Bank.. lira crushes harder because of mistrust. Of course before all these.. some shadowy friends sell all their lira and take position. This time gladly I am safe.. I decide not to use Tayyip Lira anymore in any case.. what he is doing to money is a crime and pure corruption.

Start using the Azerbaijani manat. You'll be doing us a favor and you'll only need to pay slightly under twice as much for foreign goods instead of 10 times more.

 

[TheInsider]

Central Bank to lower interest rate 100 points (%1). The US dollar is expected to pass the 10TL line in the short term, by the end of this year or early next.

 

[Nilgiri]

Central Bank to lower interest rate 100 points (%1). The US dollar is expected to pass the 10TL line in the short term, by the end of this year or early next.

Oh boy....

So have they figured out the new evolving basket of goods to measure inflation on next?

 

[HTurk]

Start using the Azerbaijani manat. You'll be doing us a favor and you'll only need to pay slightly under twice as much for foreign goods instead of 10 times more.

In 2015, the AZN lost half of its value over night. Using the Azeri Manat is not really a solution. Besides, no monetary union without a political union - something the world has learned from the countless Euro zone crisis.

Aren't you American? Read the history of the USD to understand why one currency won't work without one government and one set of rules.

 

[TheInsider]

Erdo will come to regret those decisions he made in the past 2-3 years. Everything is going on according to the info I received. One US dollar will be over 10TL in the short term and interest rates will be decreased, over 12 TL in the midterm, and the interest rate target is under %15. There is no way he can win elections. He sealed his own fate. Erdo is also getting ready to make a big increase(over %20) to minimum wage.

 

[Anastasius]

In 2015, the AZN lost half of its value over night. Using the Azeri Manat is not really a solution. Besides, no monetary union without a political union - something the world has learned from the countless Euro zone crisis.

Aren't you American? Read the history of the USD to understand why one currency won't work without one government and one set of rules.

Yeah, that was the joke. I probably should've put an "/s" there but I figured a smiley emoji would suffice. AZN is a currency kept afloat pretty much entirely by our gas and oil exports despite "attempts" to "diversify" Azerbaijan's economy so when prices crashed in the mid-2020s, it almost killed the country's financial standing. Now they are rising again and Aliyev and his cronies are rushing to invest it in as many useless construction projects as possible before they crash again next year. And this is while we have a huge amount of people outside of the Absheron area that live in borderline poverty.

The punchline being that even with all those problems, the manat is still a better investment than the lira.

I am an American of Azerbaijani origin. I am at home in both and I have a fondness for both. I am well aware of the history of the US dollar.

 

[Lool]

Erdo will come to regret those decisions he made in the past 2-3 years. Everything is going on according to the info I received. One US dollar will be over 10TL in the short term and interest rates will be decreased, over 12 TL in the midterm, and the interest rate target is under %15. There is no way he can win elections. He sealed his own fate. Erdo is also getting ready to make a big increase(over %20) to minimum wage.

I still want to ask why though?
I mean, when he sacked Baykar and replaced him with an orthodox TCMB leader, in just 5 months his approval rating increased from 30% to 36% and was on the increase. However, he suddenly sacked the Central bank governor and replaced him with the current one
You see, i believe Erdo isnt stupid! He knows what the ppl wants and he knows how he can get those votes! At the end of the day, he is a politician who wants to be elected again! And considering that the AKP is rotten, wouldnt they prefer to do what the ppl wants since if they lost the elections, the CHP will throw most of them in jail. In fact, Iam sure that when the CHP wins, they will eliminate the AKP and ensure that no significant opposition remain in the future

So why does Erdo initiate such moves is way beyond me tbh; i see the recent polls and read about how ppl are saying that the CHP caught with the AKP even though the CHP's approval rating still hovers below 30%! It isnt the the CHP cought up with the AKP, but it is that the AKP fell to the level of the CHP!

Since you have sources inside the AKP, do you know why such bullshit decisions are being implemented?

 

[TheInsider]

CHP is staying still, AKP is losing huge ground, other parties are increasing votes, especially IYI Party. All of the polls put AKP around %30-35 MHP around %5-7, CHP around %24-26, IYI %14-16, HDP around %8-9.

Such bullshit decisions are made because there is no external financing anymore. If you devalue your currency you can increase export but the more important thing is you can force Turkish producers to buy Turkish components and subsystems that will be very competitive to their foreign counterparts in price. This means putting a wall against imports. So in theory fewer dollars will leave Türkiye and we will earn more dollars by exporting more and with more overall Turkish contribution and nationalization rate. Türkiye is making efforts to nationalize the product chains and try to gain more added value from its exports. But everything is not that straightforward and easy this is a dangerous game to play both economically and politically.

 

[Abdelaziz]

Hard economic decisions should be taken in these days ... There is 1.5 years till the elections .. i think erdogan will make elections oriented decisions starting from the second half of 2022 .. eg raising the wages , opening mega projects, introducing important military projects (mmu,hurjet,siper,atak2) ,, start using the black see gas etc ... So as i said ... This time is ideal for hard decisions that he cant make later near the elections

 

[TheInsider]

Turkish exports climbed over %1 of the world's total exports for the first time in its history.

Bakan Muş: Türkiye'nin dünya ihracatından aldığı pay Cumhuriyet tarihinde ilk kez %1'in üzerine çıktı | STAR

Bakan Muş: Türkiye'nin dünya ihracatından aldığı pay Cumhuriyet tarihinde ilk kez %1'in üzerine çıktı. Bu rakam; 1980'de %0,14, 2000'de %0.43 idi. Artık Türk ürünleri, dünyanın dört bir yanına ihraç ediliyor. Bu başarı Türkiye'nin.

www.star.com.tr

 

[Elaser]

Turkish exports climbed over %1 of the world's total exports for the first time in its history.

Bakan Muş: Türkiye'nin dünya ihracatından aldığı pay Cumhuriyet tarihinde ilk kez %1'in üzerine çıktı | STAR

Bakan Muş: Türkiye'nin dünya ihracatından aldığı pay Cumhuriyet tarihinde ilk kez %1'in üzerine çıktı. Bu rakam; 1980'de %0,14, 2000'de %0.43 idi. Artık Türk ürünleri, dünyanın dört bir yanına ihraç ediliyor. Bu başarı Türkiye'nin.

www.star.com.tr

THis is actually starting to look very promising...

 

[Turko]

Do you know we export diesel and gasoline fuel our neighbors thanks to low lira? We supply Syria/ Iraq fuel while we importing oil. Do you think it's sustainable success?

 

[Nilgiri]

Do you know we export diesel and gasoline fuel our neighbors thanks to low lira? We supply Syria/ Iraq fuel while we importing oil. Do you think it's sustainable success?

It is exactly why I always say give 5 year time frame to watch things....there have been blips before.