THE PLACE OF TURKISH FOREIGN TRADE IN THE GLOBAL ECONOMY

Abstract

Begining with the post World War I and II called war years, the globalization phenomenon which affects almost every area, amde great progress in economy. But, the globole eceonomy narrowed by the negative impacts of the 2008 global financial crisis which start with Lehman Brothers' bankruptcy, and then leaping to European countries and then to other world countries. In particular, the contraction in global foreign trade volume has led to trade at lower than their potential, in many countries. For this reason, the foreign trade of Turkey has followed a similar course and the size of exports and imports has decreased in the mentioned period. It is seen that the weight of Turkey in global foreign trade in current situation is below 1% in both export and import. Turkey, representing a small part of the global foreign trade volume, has to increase its share in existing foreign trade markets and accelerate its search for new foreign trade markets in order to use its foreign trade potential.