Encouraging, as these words, are the trade figures. The total exports touched $76.46 billion, registering a rise of 14.1% over 2004 (Central Bank of the Republic of Turkey). Imports also increased by 20%, reaching $105.2 billion in 2005. The rise has been possible because of an outwardly oriented trade policy of the Turkish government, different from the import substitution agenda it used to follow before 2000-01 recession. The trade basket largely includes vehicles, articles of apparel and clothing accessories, mineral fuels and equipments. The top trading partners of Turkey are Germany, Italy, France, UK and Russia – quite clearly, most of Turkish trade is concentrated in the EU. And all this largely because of the Customs Union (established in 1996) regulates the trade regimes between the EU and Turkey.
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Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
