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Fluctuations unrelated to Turkish economy’s strength

Fluctuations in financial market not related to Turkish economy’s production strength and industry, says industry minister

Volatility in financial markets over last few days have nothing to do with the Turkish economy’s production strength and industry, the nation’s industry and technology minister said on Tuesday.

Meeting with business representatives in Sakarya, western Turkey, Mustafa Varank said despite the coronavirus pandemic,investment demand this January to August rose some 30% on an annual basis.

“In the first nine months, 10,802 industrial firms registered with the industrial registry system. This figure represents a 12% increase compared to the same period of last year,”he added.

Saying that the recovery in foreign demand had boosted Turkey’s exports, Varank said exports this September amounted to over $16 billion, an all-time record for that month.

“The global economy’s center of gravity began to shift,” he added.

“Global brands are diversifying their production centers. Turkey is a very serious alternative for regional centers.”


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