Since the industrial revolution, the invention of steam machines and mechanization in the production line and serial production techniques have been developed, and more efficient and high value-added products have been produced. In this context, countries with insufficient natural resources had to supply the energy needed by the fixtures used in production from external sources. It has become one of the external supplier countries due to the insufficient energy resources in our country compared to the demand. In this study, the relationship between price changes in oil, which is one of the biggest import items of our country, which is dependent on foreign energy between 1999 and 2019, was analysed by evaluating many econometric tests. In the light of the findings in Turkey, the change in oil prices that occurred in the period surveyed, there is positive impact on the foreign trade deficit.
|Publication Date||April 28, 2022|
|Published in Issue||Year 2022, Volume 9, Issue 1|
Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)