Investments in Turkey from Western countries decrease


July 15, Fineko/abc.az. US sanctions can lead to capital outflow from Turkey.

Expert economist Vugar Bayramov says that US sanctions against Turkey will cause difficulties with the repayment of demand for foreign currency.

"In 2018, Turkey's foreign trade turnover recorded a deficit of $55 bn. In the neighboring country, which imported goods for $223 bn, exports amounted to $168 bn. Last year Turkey was able to raise foreign direct investments in the amount of $13.2 bn. In recent years SOCAR has invested in the Turkish economy more than this indicator – $15 bn.

Despite the decline in the weight of Western countries in investments in the Turkish economy, the contribution of Asian countries increased from 12% up to 27%," the expert emphasized.