Türkiye’s trade balance improves
Statistics just released by Türkiye’s State Institute of Statistics (DIE) show the country’s exports to Italy climbed 25.5% during January-July 2001. Exports to France were also up, by 12.6%, while exports to the United States climbed 4.2%. Rises were also noted in exports to Germany (up 4%) and the United Kingdom (up 2.9%).
Total exports rose by 9.2% to $17.5 billion during the period, despite the continuing shrinkage in the economy, with imports decreasing by 21.6% to $23.6 billion.
Meanwhile, the IMF World Economic Outlook publication has reported that the Turkish economy will shrink by further 4.3% this year, but then rebound with a 5.9% growth rate in 2002 - provided that the government’s economic reform agenda stays on track.
Prepared prior to the US terrorist attacks, the publication also forecasts Turkish inflation will reach 51.9% this year before falling back to 32.7% in 2002. Türkiye is due to present a letter of intent to the IMF in the first half of October to secure the next $3 billion IMF tranche.
