Minister of Commerce: Weak demand generates risk in exports

Trade Minister Mehmet Muş, in his presentation at the Parliamentary Budget and Plan Committee, said that the euro/dollar parity had a negative impact of 12 billion dollars on exports and 2.8 billion dollars on the foreign trade deficit in the first 10 months.

Stating that demand in the European Union (EU), which is expected to weaken further, poses a risk to exports, Muş said, “Therefore, we carry out the necessary studies to strengthen our market diversification by targeting our exporters to alternative markets. . Uncertainties are likely to increase further in the coming period. We are waiting for a difficult period that all countries face in the global sense.

63 PERCENT OF THE INCREASE IN IMPORTS WAS DUE TO ENERGY AND GOLD

Stating that energy imports rose 118.4 percent in the first 10 months compared to a year earlier, Muş said, “On the other hand, the recent increase in gold imports significantly increases our import bill. Total gold imports increased 198.4 percent compared to the first 10 months of the previous year and reached 10.1 billion dollars. Therefore, 63 percent of the increase in imports was due to energy and gold.

Stating that e-commerce has gained momentum in our country and around the world with the conditions of the pandemic, the Minister of Commerce said: “The volume of e-commerce, which was about 161 billion lira in the first 6 months of 2021, it increased to 348 billion lira in the same period of 2022. According to the Ministry’s data, 13.3 billion TL of the 2023 budget, which is 17.12 billion TL, will be used for the regulation and development of trade . (REUTERS)