Turkish exports jumped 15.7% during last June, compared to the same month in 2019. This rise reflects a recovery in economic activity, which fell sharply due to public isolation to reduce the spread of the Coruna virus in the past months.
According to the data of the Turkish Statistical Organization and the Ministry of Trade, which was published today, Wednesday; The value of Turkish exports last month amounted to 13 billion and 462 million dollars.
Imports also recorded an increase of 8.3%, amounting to 16 billion and 308 million dollars, thereby reducing Turkey's foreign trade deficit by 17%, reaching two billion and 846 million dollars.
The ratio of exports to imports increased from 77.2% in June 2019 to 82.6% this year.
During the first half of this year, exports decreased by 15.1% compared to the same period last year, to decline to 75 billion and 21 million dollars, and imports decreased by 3.2% to reach 98 billion and 895 million dollars.
Inflation fell
On Wednesday, the Turkish Central Bank expected that the inflation rate would decrease to 8.9% this year.
Turkish Central Bank Governor Murat Awasal added that the Turkish Central Bank’s expectations indicate that inflation next year will drop to 6.2%.
He pointed out that the Turkish Central also expected to stabilize inflation in the country at the limits of 5% in the long term.
He pointed out that it is expected that there will be an increase in the revenues of the tourism sector, in conjunction with the easing of preventive measures against the Corona virus.
Ease of doing business
On Tuesday, Turkish Minister of Treasury and Finance Barat Al-Bayraq said that his country will remain a center for attracting investors, as it has risen in recent years to 33rd in the world in the index of ease of doing business.
Al-Bayraq added - in a tweet via Twitter - that his country greatly surpassed many developed countries, in terms of investors opening projects on their lands.
He added that Turkey ranked 60 out of 190 countries on the Ease of Doing Business Index in 2017, but today it ranks 33rd.
The lira slipped
These positive data come at a time when the Turkish lira fell yesterday, by as much as 1.6%, to its lowest level since mid-May last, at about 7 pounds per dollar, amid a wave of sales that ended a two-month lull, and analysts said that was the result Expensive currency interventions.
According to the accounts of bankers and analysts, the cost of intervention in the exchange rate has reached about 100 billion dollars since it began early last year, to shrink the foreign exchange reserves at the central bank to 49 billion dollars.