Two tables below explain the problem. The main culpit is the high energy prices. The ratio of manufacturing exports to intermediate goods has never been higher. Ditto for the export/import ratio -- IF ONE EXCLUDES ENERGY BILL.
If there we no change in the energy prices, the ratio of exports to imports would be much better:
Figure: The ratio of exports to imports under 2000 prices
1 comment:
Turkey has a portion in north-east
that is similar to switzerland.
Beautiful scenary,snow resorts and
a pleasnt climate.If they develop
condos for middle east sheikhs,US,
europe clients and let foreign direct investment in ski resort,they will get 10 mn foreign
tourist each year and huge tourism
forex. this will partially reduce
the current account deficit problem
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