Current account deficit and global competitiveness in Turkey

Nuray Terzi

Abstract


Current account deficit has been at the core of policy discussions in recent years in Turkey. The current account deficit in Turkey has exceeded the risky level. Policy makers worry that the enlarging current account deficit will further jeopardize Turkey’s economic future, making it more vulnerable to external economic fluctuation. The greatest portion of the current account deficit in Turkey results from increased trade deficit, and the main parts of imports in Turkey focus on some specific countries. A comparison between Turkey and its trade partners in terms of global competitiveness will provide a deep insight to reduce the deficit as well as the current account deficit. For this reason, this study aims to compare the level of global competitiveness of Turkey and its main trade partners.


Keywords


current account deficit; trade deficit; global competitiveness

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DOI: http://dx.doi.org/10.13165/VSE-14-4-2-02

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"Business Systems & Economics" ISSN online 2029-8234