FINANCING FOREING TRADE IN TURKEY UNDER 2020 CORONA VIRUS COVID-19 PANDEMICS

Abstract

Purpose- The study aims to estimate the export income of Turkey under the effects Corona Virus Covid 19 Pandemics of 2020. Methodology- The study employs descriptive statistics analyses for macroeconomic indicators of leading export markets of Turkish economy. Findings- The analysis shows that Turkish Economy export income would decline 30 percent relative to 2019 due to sudden shock and lockdowns and losses, deaths and illnesses during the first quarter of 2020. Conclusion- The World Economy has been expected to shrink 3 percent at 2020. This is larger than 1.68 percent decline in growth rate at 2009. In 2009 financial crises, Turkish export volume decreased %30 in 2009. At 2020, the export of Turkey would decrease 30 percent due to decline of import demand of major export markets of EU, OECD and member countries of Islamic Cooperation Countries. However, the World Bank and IMF’s expectations suggest rapid growth in the World economy at 2021.

Keywords

• International trade
• export volume
• current account
• Turkish economy
• corona virus covid-19
• pandemics

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