The Economic Policy Research Foundation of Türkiye (TEPAV) conducted an analysis on the development of Türkiye's shares in global trade and the diversification of its exports. Measuring diversity by taking into account the competitiveness dimension, the analysis showed that Türkiye is one of the six leading economies in the world in terms of product diversity and the world's leading country in terms of market diversity.
Hüseyin Ekrem Cunedioğlu, Development Program Director at TEPAV, released an assessment note titled "Türkiye's Foreign Trade Performance: Diversification of Exports". The study is the first in a series of notes on Türkiye's foreign trade performance.
The assessment note explains that "the analysis shows that Türkiye is among the world's leading countries in terms of product and market diversity in exports. This high diversification facilitates Türkiye's rapid export recovery in times of global crisis and reduces its vulnerability to sectoral or market shocks. On the other hand, it is also assessed that the country should not delay any longer in making use of its diversification advantage with a proper specialization strategy to increase the contribution of foreign trade to growth under production capacity constraints."
Türkiye's export diversification has been on an upward trend for 20 years
TEPAV's research utilized the BACI database published by the French think tank CEPII, which presents the trade flows of 226 countries in approximately 5000 products.
All indicators show that Türkiye's export diversification has been on an upward trend for the last two decades, with three indicators for product diversification and two indicators for market diversification.
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