Could Turkey Realize Its Export Targets in 2011
The Turkish economy is doing well again after the elections – as would be forecasted and was chosen the fastest growing economy in the world fort he first 3 months of the current year.
Regardless of how successful the current government has been in issues such as legal reforms, it is not possible to ignore their performance in the economic arena.
Another – and very important – thing is that the current government in power has obviously created a sort of “confidence” with both local bodies and local voters. They almost believe AKP is unbeatable and radiates stability/consistency which are certainly two most important factors in politics and economy.
Within this framework it is understood that Turkey has been doing real well again in exports and has already reached an export figure of US$ 65,8 billion in the first 6 months of current year, surpassing the targeted export figure in the medium term program.
The first six months figure is more than 127 billion dollars annual target and Turkey is expected to brake the annual export record this year, based on the performance in the first six month.
Another important indicator that the annual export figure is going to surpass the targets is the outstanding growth in the Turkish economy in the first 3 months of 2011.
In the first quarter, Turkey has managed to increase the number of cities with exports over 1 billion dollars from 7 to 9. The target is to reach the number of 18 cities by the end of 2011.
Furthermore it is pleasing for Turkey that the exports of the country has not been limited to Europe only. Significant increases in exports to Middle East countries were recorded as well.
On the other hand exports to China are expected to increase substantially (like last year).
In the first half of 2011 Turkey realized exports to 235 different countries.
Another factor to turn this positive development into a stable performance for Turkey, would be to review incentives provided by the state to the exporters. We believe the government is aware of the locomotive function of exports in the positive growth of the economy and would not deny exporters this advantage.
On account of above data it could easily be said that Turkey is certainly expected to surpass its export targets for 2011.
02 June 2011
Editor (BTT)
