HALF OF THE GROWTH COMES FROM NET EXPORTS

Mehmet BÜYÜKEKŞİ, President of the Turkish Exporters Assembly, evaluated the growth of the first quarter of 2017. TIM Chairman, who stated that net exports contributed 2.2 points to growth within the expectations, said:

"Turkey's economy began 2017 with a strong growth data after 2016, a tough year. The 5% growth rate we caught in the first quarter of 2017 was the highest first quarter we have seen since 2014.

Now in 2017, that we declare "Breakthrough Year in Stability", with the recovery of the global economy and the end of the troubled periods for our country, Turkey is making great progress both in growth and in exports.

Our exports increased by 8.9% in the first 5 months with 5% GDP growth in the first quarter. The strong increase in our exports contributed significantly to growth. In this period, we anticipated 2.2 points contribution of net export to the growth. That means half of our growth is originated from net exports. Thus, net exports, which has been negative since the last quarter of 2015, contributed positively to the growth again. In this sense, I congratulate all our exporters.

Nevertheless, the revitalizing steps of the internal market that our has taken also created a significant revival in domestic demand in the first quarter. In addition to the increases experienced in consumption, investments also increased by 2.2%. On the other hand, industry sector also achieved a strong growth of 5.3% in the same period.

With the support of our government to exporters, I believe that in the rest of 2017, net exports will make a greater contribution to growth.

We hope that, in the upcoming period, we will see higher growth rates in investments as well as increased confidence and stability in our country”

Published on Monday, June 12, 2017
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