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Turkey in the changing transatlantic trade environment
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Atlantic Council
It has also had negative consequences for Turkey’s trade balance, which is now firmly stuck in deficit with adjacent current account deficit challenges.
The less reassuring reality is that Turkey is trying to reverse its trade deficit at a time of global trade fragmentation.
This outpacing became negligible in the next decade: 3.7 percent trade growth for 3.5 percent GDP growth.
In this decade, trade growth has been slightly behind GDP growth, and it might even start to become a drag in the next five years.
Figure 2 emphasizes the European Union’s central role in Turkish global trade ties, especially as Turkey’s primary export market.