Nadir Küpeli, head of Eskişehir Organized Industrial Zone (EOSB), evaluated the first quarter economic growth data and foreign trade figures of April 2020, announced by TURKSTAT.
EOSB President Nadir Küpeli said the growth figures announced for the first quarter of 2020 were promising for the future of the economy, and pointed out the fall in exports in April. Küpeli also stated that new measures should be taken in order to export exports to their old pace.
Growth in the economy and industry promises
Eskişehir OSB, President of Rare Earring, according to Turkstat, in the first quarter of Turkey's economy in 2020 compared to the first quarter of 2019 of 4,5 percent is growing, according to the figures released in Turkey in this period of world stating that one of the countries completed the highest growth figures, " The vast majority of countries, which explained the growth figures worldwide, completed the first quarter with shrinkage. Although it should nevertheless be considered quite as high a growth rate due to cover a period which starts seeing the effects in the first quarter is expected a growth rate of over 5 percent, though described percent of 4,5 growth figures are koranavirü for Turkey. In the first quarter of the EU's 3,5 percent, although the situation in the United States shrank 4,8 percent in Turkey dissociated state from around the world with positive growth of 4,5 percent. We will see the main effect of coranavirus on the economy more clearly when the second quarter figures are announced. However, in this period, our industry did not stop, we continued to work and produce. When we look at the growth figures in the first quarter, industrial production, which started well in 2020, made a very good and high contribution to economic growth despite the contraction in March. Industrial production increased by 6,2 percent compared to the previous year, while its contribution to the economy was 1,3 points. Our manufacturing industry grew by 6,7 percent. The Turkish industry continued to contribute positively to the economy in this difficult period, too. ”
Looks promising
President Küpeli continued as follows: “While the impact of the contraction in the construction sector on the growth figures was negative, the increase in the consumption figures of the public and our citizens contributed to the growth in the same period. On the other hand, when we look at the contribution of foreign trade to our growth, the 1 percent contraction in our exports negatively affected the economy by 0,24 points and the 22,1 percent increase in imports by 4,07 points. In total, the shrinking effect of foreign trade has reached 4.31 points. The fact that there is still not a positive development in our export markets, in line with our exports, which contracted by 45 percent in April, indicates that foreign trade may have a much higher negative impact on growth in the second quarter. Again, in this period, the fact that the machinery-equipment investments rose to 5 percent for the first time in 8,5 quarters, seems to be promising in terms of the growth pace of our industry. Without further unexpected developments in 2020, we are likely to complete the year with positive growth figures. ”
The contraction in our export markets negatively affects our exports.
EOSB President Earring, the statement that assessed the April foreign trade data released by TurkStat, "as our exports to Turkey in April, 41,4 percent of our imports decreased by 25 percent. Our foreign trade deficit increased by 67 percent from 2 billion 732 million dollars to 4 billion 564 million dollars. The negative impact of Covid-19 on our export markets affects us closely. We export 55% of our exports to the EU and the major countries of the union, and the developments in these markets affect us immediately. In these countries where we export extensively due to coranavirus, there has been a serious decline in our exports due to increased control of customs and closed customs at certain periods. Although our industry continues production, we had great difficulties in delivering our products to the export markets due to the epidemic. Therefore, the ratio of exports to imports fell from 2019 percent in April 84,9 to 2020 percent in April 66,3. On the other hand, when we look at the TÜİK export figures on the basis of Eskişehir, our total export was realized as 2020 million dollars in the first four months of 319, and our export was 2019 million dollars in the same period of 360. In the four-month period, our exports decreased by $ 41 million compared to last year. Especially, the decrease in exports showed its effect in April and our province exports decreased by 45 million dollars in this month compared to the same month of the previous year. When we look at the import figures of Eskişehir, our imports, which were 4 million dollars this year for the first 275-month period, were at the same level last year. As the impact of the epidemic, it is observed that our exports have been decreasing this year as Eskişehir and our import level has maintained its level of last year. Our hope is that with the opening of foreign markets, we expect our export figures to return to their previous years since June. In this context, the fact that our state, which provides support to industry and production in this difficult period, will implement new supports and incentives in order to increase our exports faster and to provide more foreign currency inflow to our country, will be of great benefit for the next period ”.
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