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Title: Turkey GDP Falls Down -3/4: from 8% to only 2%, now 1%! But Deficit still Rises Post by: Breadman on April 20, 2013, 05:21:16 PM Turkey GDP Falls Down -3/4: from 8% to only 2% and now 1%! But Deficit continues to Rise...
Turkey's growth fell Down to only 2,2% in 2012, i.e. Less than ...one quarter (1/4) of what it was back on 2011 (8,8% : already Down from more 9,2% in 2010, after the "2009 Recession"). At the beginning of 2013, Ankara's growth even Fell at the Lowest level ever since the 2009 Recession : Only 1,4% on January 2013, compared to Jan. 2012, according to Bloomberg. In comparison, at the same time, Israel's Growth was up to +3,1%, and Russia's even Higher : +3,4 %... ---------- But, meanwhile, "Turkey’s (already Problematic : See previous Warnings already published) foreign trade Deficit increased by + 2.4 % at the beginning of 2013, compared against the same month in 2012, reaching - $ 7.291 Billions" Nevertheless, at the same time, EU's Exports towards Turkey fell down for - 1,6 % at the beginning of 2013, while Turkish Exports competing against EU businesses grew : In other words : Ankara buys less from Europe, but sells to Europe more products, to the detriment of European businesses. |