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Growth 02/10/2017

Free International Trade or Protectionism: Which One is Better for Economic Growth?

Bülent Ulaşan

A country’s, particularly emerging countries’, performance in improving its institutional structure will be decisive in the economy’s potential to grow and benefit from international trade, regardless of an increase or weakening in the trend of protectionism in the world economy.

International Trade 09/03/2018

Sailing into the Wind: Turkey’s Increased Share of the World Trade Pie

Mustafa Faruk Aydın

Projections based on World Trade Organization (WTO) data suggest that the uptrend in world trade volume will remain strong in 2018 and Turkey’s foreign trade partners will show a better growth performance than they did in 2017. These projections indicate that the momentum achieved in Turkey’s exports in 2017 will be sustained in 2018.

International Trade 07/09/2020

Impact of Opening Embassies on Exports

Yusuf Kenan Bağır

Turkey opened new embassies in 39 countries between 2008 and 2016. This blog post analyzes the impact of this expansion on Turkey’s foreign trade with the relevant countries

International Trade 28/10/2019

The Growing Role of China in the World Economy

Emre Yalçın

Having joined the World Trade Organization (WTO) in 2001, China integrated rapidly into the world economy and grew to become a key player to have direct implications for many economies through trade and finance. This natural influence of the world’s greatest exporter and second largest importer comes up in changing ways over time.

International Trade 26/09/2017

To Be or Not To Be an Exporter!

Aslıhan Atabek Demirhan

Even if firms’ decisions about exports are stable, it can be asserted that crises can lead to some dramatic changes in export behaviors of firms. In this context, it is very important to take into account the peculiarities of the period while determining incentives and measures to be introduced during economic fluctuations.

International Trade 19/12/2018

Exports or domestic sales? A look at firms’ flexibility in switching to international markets

Selçuk Gül

In this blog post, we will examine the relationship between domestic sales and exports of manufacturing firms and how much this relationship is affected by domestic demand conditions. The results showed a pattern of substitution between domestic sales and exports of manufacturing firms.

International Trade 06/01/2017

Increasing Protectionism and Global Trends in World Trade

Semih Tümen,Ünal Seven

The likelihood of a reversal in liberalization and integration processes driven by the EU and the US in the period ahead has started to be openly discussed on international platforms.

International Trade 21/07/2017

A Note on the Enhancement of the Customs Union

Emre Kaya,Merve Mavuş Kütük

Due to Turkey’s prolonged EU membership process, which has lasted for over twenty years, and also due to a series of conjunctural and technical reasons, a need for an enhancement of the Customs Union has emerged in recent years.

International Trade 01/11/2019

The Role of Productivity in Translating Exchange Rate Advantages into Competitive Advantages

Orhun Sevinç

The consistency of the productive capacity revealed in the form of foreign trade performance with the sectoral real effective exchange rate supports the interpretation of the decline in real effective exchange rate indices as competitive advantages. On the other hand, the strong medium-term relation between sectoral real effective exchange rate series and productivity points to the potential importance of productivity in the translation of nominal exchange rate advantages into international competitive advantages.

International Trade 19/04/2021

Structure of Turkey’s Exports of Services

Ahmet Adnan Eken,Didem Yazıcı

This blog post analyzes the structure of Turkey’s exports of services structure based on sectors, relative competition areas and trading markets.

International Trade 27/12/2019

Decomposition of Income and Relative Price Effects in Exports and Imports

Aysu Çelgin,Mert Gökcü,Özgür Özel

The real exchange rate has a larger impact on imports than on exports, whereas aggregate demand is more likely to determine imports. Compared to previous periods, the effect of real exchange rate was more pronounced in the recent improvement of the external balance.

International Trade 16/07/2021

A Micro Data Analysis of Non-exporting Firms with High Potential

Ünal Seven,Merve Artman,Kadir Gürci

In this study, we summarize our findings regarding the exporting potential of firms included in the Central Bank of the Republic of Turkey Sectoral Balance Sheet data-set, and the sector, size and provincial breakdown of non-exporting firms with high potential.

International Trade 13/11/2024

Effect of Demand Conditions and Market Share Developments in Türkiye’s Exports to the EU

Altan Aldan,Didem Yazıcı

This blog post examines the impact of external demand conditions and market share developments on Türkiye’s exports to the European Union, Türkiye's largest export market, by sector, using Eurostat’s monthly international trade data.

International Trade 13/11/2019

Estimation of Imported Input Utilization by Using Micro Data

Yusuf Emre Akgündüz,Salih Fendoğlu

Knowing how much imported input is used during production by export companies is important with respect to better understanding the prospective impacts of exchange rate fluctuations on exports and the general economy. In recent study, we tried to measure imported input dependence of Turkey's exports using micro-level data.

International Trade 21/08/2024

FX Repurchase Behavior of Firms Selling Export Proceeds

Kadir Gürci,Ünal Seven

This blog post closely examines the effects of the implementation regarding export proceeds sales to the CBRT, which entered into force on January 3, 2022, and of the subsequent revisions to that policy on firms' FX repurchase behavior and the FX market.

International Trade 01/11/2018

Export Developments from the Concentration Perspective: A Case Study for Turkey

Abdullah Kazdal,Süleyman Kutalmış Özcan,Muhammed Hasan Yılmaz

Product, activity and country-based diversification in the Turkish foreign trade witnessed a significant upswing in the last 15 years. On the other hand, diversification has come to a halt in recent years. In this context, steps to be taken to improve diversification in exports are considered vital.

International Trade 17/01/2025

Gold Import Quota and Consumption Demand Indicators

Altan Aldan,Okan Eren,Barbaros Eriş,Didem Yazıcı

In this blog post, we analyze the impact of the quota-driven change in the composition of gold imports on consumption demand indicators.

International Trade 29/12/2017

An Assessment of the Use of Imported Inputs and Different Perspectives

Elif Özcan Tok,Orhun Sevinç,Semih Tümen

It seems hard to decide whether the use of imported inputs is at an optimum by merely looking at figures or making cross-country comparisons. However, if we evaluate the use of imported inputs in a breakdown by sectors and in light of its change over time, the existence of some structural problems can be seen clearly.

International Trade 01/11/2024

Factors Determining Türkiye's Exports to the European Union

Mahmut Günay,Furkan Höçük,Ahmet Bilal Kurtoğlu

In this blog post, we analyze Türkiye’s exports to the European Union, our main trading partner, and summarize our findings on the determinants of exports.

International Trade 22/11/2024

Value-Added-Based Scoring of Exporters for Rediscount Credits

Muhammed Furkan Erdoğan,Kadir Gürci,Fırat Özata

This blog post outlines recent changes in rediscount credit utilization and introduces the exporter scoring that will come into effect on January 13, 2025.

International Trade 02/03/2018

Rediscount Credits and Exports

Huzeyfe Torun,Süleyman Hilmi Kal,Tunahan Özdemir,Yusuf Emre Akgündüz

Our findings suggest that rediscount credits support exports. Yet, it should be underlined that a number of factors should be taken into account in the design of such financing instruments and the funds should be distributed in a target-oriented and efficient way.

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The CBRT Blog provides analysis and commentary from researchers and economists working at the Central Bank of the Republic of Türkiye. It features articles on macroeconomy and central banking, as well as texts prepared using the Bank’s official communication tools as a source.

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