Published: February 28, 2018
Easy capital market funding for Turkey’s banks and companies both a boon and a worry.
Turkey’s trade deficit widened by 108.8% year on year to $9.07bn in January, according to Trading Economics.
Imports rocketed to $21.52bn, a 38% year on year increase, with more purchases of semi-finished products known as intermediate goods, capital goods and consumption goods responsible for the bulk of the increase.
“Underscores the over-heating story,” said Tim Ash, senior emerging market sovereign strategist at Bluebay Asset Management.