search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
COUNTRY REPORTTURKEY


Economic woes


slow project growth


Turkey’s geographic location, coupled with strong public sector investment, has provided a wealth of heavy lift and project cargo handling opportunities. However, a mid-year currency crisis in 2018 has left a number of large-scale projects in limbo. Felicity Landon reports.


and social development performance since 2000 had been impressive, with macroeconomic and fiscal stability at its heart, dramatic urbanisation, an opening up to foreign trade and finance, and the harmonisation of many laws and regulations with the European Union (EU). But 2018 was tough. In the second half of


T 44


the year, in particular, Turkey was hit by market volatility and growing economic stress, said the World Bank. Demand started decelerating in the third quarter and the


January/February 2019


he Turkish economy is “experiencing a difficult period”, as the World Bank puts it. In an October 2018 report, the bank stated that the country’s economic


economic outlook is “subject to higher levels of uncertainty”.


Plunging lira The Turkish lira lost about 40 percent of its value against the dollar during 2018, although improved relations with the USA and a big interest rate hike helped towards something of a rebound. Inflation peaked at more than 25 percent in October. How does all this translate into reality for


Turkey’s heavy lift and project forwarding sector? “2018 was very challenging for Turkey


because of the currency fluctuations,” according to Kaan Aydin, business development manager at Bati Group.


“Politics is a very important factor that


highly affects our business and I believe that political developments must be examined very closely. In 2018, the fluctuation of the Turkish lira led to a depreciation of imports and lack of local investment,” he explained. Feyza Ercengiz, ATA Freight Line’s


industrial projects manager, said, “2018 started as one of the most promising years of the last decade but trade wars mitigated the potential global trade increase.” She added that the strong dollar exchange


rate and increasing interest rates in the USA negatively affected all developing countries. Local currencies lost value against the dollar and inflation started to increase, causing a major slowdown in economic growth rates.


www.heavyliftpfi.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150
Produced with Yudu - www.yudu.com