Turkish firms expect rise in exports, decline in imports

Turkish companies are anticipating an increase in exports during the first quarter of the year, while imports were expected to decline.

An index for exports, prepared by the Trade Ministry, rose to 117 for the three months to March from 111.6 for the final quarter of last year, according to Dünya newspaper. An index for imports fell to 94.7 from 100.1, Dünya said.

Turkish imports have slumped in recent months while exports have climbed after a currency crisis wiped almost a third off the lira’s value against the dollar last year.

The slide in imports is a result of declining demand for goods from manufacturers and consumers. The downturn in demand was reflected in a quarterly economic contraction in the three months to September of 1.1 percent. Some economists expect negative economic growth to persist through the fourth quarter of 2018 and into this year.