Turkey Turkey: Business is going on and will be Better!

Despite the overall fall in the commodity prices, insecure exchange rates because of FED interest rate policy, concerns in global market caused by fading economic boom in China and chaos around, Turkey is still doing well and increasing market share in Europe.

The trend is being confirmed by the October report of World Bank which revised growth forecasts downwards in general but increased Turkey’s 2015 growth forecast from 3.0% to 3.2%. Besides this, 2016 and 2017 growth rate forecast for Turkey by World Bank is 3,5%, which affects future expectations positively. This clearly means that Turkey will go on to produce goods and will need more machinery and production systems.

Export increase by 1.6% to Europe in terms of kilograms

The general conditions and fall of EUR/USD parity is causing the world good trade decrease by considerable amount and the export volume of many countries shrink. As a result of this, it is certain that the global export volume is decreasing and Turkey is also suffering with average 10% loss which is less than the average world decline. Despite this and narrowing trade volume Turkish exporters are continuously increasing their export in terms of kilograms. According the data of TİM (Turkish Exporters Assembly) explained by its president Mehmet Büyükekşi, in the first nine months of this year Turkey’s agriculture and industry sectors experienced 1.6% increase of export in terms of kilograms. Büyükekşi’s explainations underline some other important results such as export increase by 1.6% to Europe in terms of kilograms and by 7,3% in terms of Euros. According to Büyükekşi, this demonstrates that Turkey managed to increase its quantitative export and gained market share while per unit prices fell and global trade suffered a recession. Considering the data covering last 12 months which shows the increase of Turkey’s share in EU28 imports as 1,2%, Büyükekşi says that Turkey’s export is better than it seems at the first glance.

Global cooperation news

There are some other important news that will attract the attention of machinery and manufacturing system producers , such as the heading of the Turkish manufacturer Arçelik which is a Koç Holding subsidiary to the US with its leading white goods brands BEKO which has already been known in European markets. It is a reality that Turkey is the largest manufacturing hub in Europe for white goods and Turkish home appliances sector exports almost 75% of its products to abroad. Another important news is the sign of partnership agreement between GS Yuasa Corp of Japan which is a world leader in battery solutions and Turkish battery manufacturer İnci Akü. İnci Akü authorities state that the equal share Turkish-Japanese joint venture will operate under the İnci GS Yuasa Brand, aiming for domestic and regional leadership in battery products. Other exciting news is from Mercedes-Benz, celebrating the 20th anniversary of its bus production plant in İstanbul , which made 75000 Mercedes-brand bus in Turkey since the company began production 48 years ago. The authorities of Mercedes-Benz state that Daimler AG will invest more in its operations in Turkey. The production plant of Mercedes-Benz in Istanbul is considered as a home to the company’s research and engineering activities.

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