|
Foreign trade forms an important part of the economy of Turkey. Exports are crucial to the overall trade balance and the economy.
Foreign trade has been a minor activity for Turkey. Since 1980, when measures taken to enhance trade relationships and implementation of a strict monetary policy helped Turkey become a country strong in trade. Increased production and the setting up of industries have increased the export possibilities of Turkey. Earlier, the export was far behind the import, thereby upsetting the trade balance of Turkey. Strict measures are gradually setting this problem right.
Agriculture is the main sector in Turkey, though rapid industrialization is taking place. Since 1980, the export performance of Turkey has been astounding. Traditionally, Turkey has mainly exported agricultural products and minerals. Since then, exports have formed an integral part of the Gross National Product, helping the Turkish economy. Improvement came with the forging of new trade relations with other countries and the strengthening of existing trade relations.
In 1985, the government mandated the setting up of four free trade and export processing zones, to facilitate the expansion and diversification of exports. There have been times when the trade balance have been grossly negative. This problem is solving itself slowly with time, with the increase in the export of Turkish goods.
The garment and textile industry is responsible by most of the country's export, followed by the iron and steel industry, and the television industry. Other items which Turkey exports include pearls and other precious stones, tobacco, minerals and mineral fuels, oils and cotton.
|
