Turkey’s exports start the year with decline
Turkey's exports fell 1 percent year on year in January 2006 due to the religious holiday.
Data released by the Turkish Exporters Assembly (TIM) show that
Turkey's exports amounted $4.9 billion in January.
TIM president Oguz Satici indicated that the figures confirm exports are gradually slowing. He also added that “There is no price stability in
Turkey. Relative price balance deformed. Energy prices, raw material prices,
production inputs and the taxes on vital requirements of people showed an upward trend; therefore the cost of living indicated a serious increase.” In a period where there are difficulties in employment and complaints about trade deficit and current about deficit, it is not a good development that some sectors quit from
production and bear to imports due to the costs and exchange rate levels, said Satici.
Industrial sector exports, which accounts for 85.42 percent of total exports, fell 1.19 percent year on year to 4.22 billion in January.