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CAN TURKEY MAKE GOOD USE OF THE “TEMPERATE PERIOD” IN CRUDE OIL PRICES?






Due to the rising price of crude oil, Turkey’s energy importation bill has been rising steadily over the years. The cost of energy imports and the current account deficit over the last five years are:
- 2010: USD 38.5 billion, energy imports; USD 45.3 billion, current account deficit,
- 2011: USD 54.1 billion, energy imports; USD 75.1 billion, current account deficit,
- 2012: USD 60.1 billion, energy imports; USD 48.5 billion, current account deficit,
- 2013: USD 55.9 billion, energy imports; USD 65 billion, current account deficit,
- 2014: USD 45.9 billion, energy imports (first 10 months); USD 30.9 billion, current account deficit (January-September.
Cahit UYANIK
You can read the rest of the article on our issue of January