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Can Turkey achieve its target of US$ 500 billion revenue in exports by 2023?

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OPINIONTurkey enjoys positive economical indicators achieved in 2011 showing its unavoidable rise to become the shining star of Europe (and the world) by 2023.

In fact, the government officials have announced that the export target for 2012 is forecasted as US$ 149 billion with an increase of approximately 10 percent as compared to US$ 132 billion in 2011.

When we look at the economies in Europe particularly, we can easily see that the Turkish economy has outperformed them in 2011, in terms of many key indicators such as as gross domestic product (GDP) growth, the unemployment rate, the budget deficit and the ratio of public debt to GDP.

We know that the government has already declared a target figure of US$ 500 billion annually in exports by the year 2023 which is the centennial anniversary of the Republic of Turkey.

To achieve this goal an annual increase of 10 percent is foreseen by the administration. The question is if these figures are feasible to realize; judging on the well coordinated co-operation between the prime minister and the minister in charge of foreign trade so far, it is not difficult to believe Turkish exporters who have made great progress in terms of knowledge and experience will be able to achieve foreseen targets.

In fact it is often expressed by exporters that the current minister (as well as the prime minister) does not fail to extend any support needed on the way to realizing said targets.

Another very important point to encourage Turkey on this mission is that in the  past the composition of the export items was not so diversified as it is at present. Turkish portfolio of export items covers many different products, now.

Then again, Turkey has also improved the composition of its export markets bringing the number of concerned countries well around 250. This in particular has been a great factor for this country to break its export record in 2011, in spite of the continuing negative effects of global crisis.

To recap, when we look at the issue in the light of above points we can easily say Turkey is going to stick to its commitments and achieve its targets by 2023.

02.01.2012
Editor, BTT

 

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