(MENAFN) Mainly driven by fluctuations in parity, a plunge in commodity prices and escalating geopolitical risks, Turkey's exports dropped by nearly 8.7 percent to USD143.7 billion in 2015 as opposed to 2014, based on reports.
The mentioned affects caused about USD30 billion in losses in Turkey's exports in the cited year, however the government stresses that it would retain its SUD150 billion target in 2016 even if there is no recovery from the problems.
The intense upsurge in the U.S. dollar has had a vast negative effect over the nation's exports, and as it mainly makes its imports on a dollar and exports on a euro basis, the falling value of the euro against the dollar has hit Turkey's exports.
"Although the losses in Turkey's exports due to the plunge in commodity prices slowed down in the last quarter of 2015 due to base effect, our loss was around USD11 billion due to the global slump in commodity prices," said a top economist.
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