Turkey's exports unable to catch the dollar’s wave
Mustafa Sönmez - mustafasnmz@hotmail.com
The U.S. dollar has been gaining value since May 2013 in all developing countries, including Turkey. The dollar, was 1.86 Turkish Liras between January and September 2013 before rising to an average of 2.16 liras, a 16 percent hike. It is normally expected that this would affect both exports and imports. It would have been expected that exporters in Turkey would have made use of this sharp hike in the dollar to increase exports. Likewise, the expensive dollar would be expected to deter imports. Well, what actually happened in the first nine months of the year?
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