Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Turkey’s Exports Reached Over $15B in March, Economy Minister says


April, 02 2018
watermark Economic news

Exports from Turkey was recorded to be in the total value of $15.1 billion for the month of March, according to economy minister, Nihat Zeybekci, on a CNN televised interview on Sunday

The nation’s exports soared by 11.5 percent year-on-year in March which has surpassed the recorded value of $15 billion for the first time, based on the reports on Turkish Exporters’ Assembly (TIM). It has attained the highest recorded value of $15.1 billion exports. Moreover, it was mentioned that exports grew by 10.5 percent close to $160 billion in the past 12 months.

Meanwhile, data from Turkey’s official statistics institute manifested growth to $13.18 billion in February. At the same time, the trade deficit of the nation has expanded by 54.2 percent year-on-year to $5.76 billion.

The goal is to exceed the value of $170 billion exports at the end of the year, as stated by the TIM President, Mehmet Buyukeksi.

Also, tourism is anticipated to gain around $51 to 52 billion this year from the estimated value of $26 billion in 2017, he added.  

This reflects that tourism as the main source of funding to lessen the present account deficit is recovering from a sharp downturn due to diplomatic disagreements, bomb attacks, and a failed coup.

Foreign imports rose more than 27 percent last year with the equivalent value of 32.4 million that has largely improved Russian tourists after Turkey has appeased conflict with Moscow due to security problems and discounts offered by the sector to gain more buyers.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.