ANALYSIS OF THE EFFECTS OF THE CORONAVIRUS EPIDEMIC ON THE EXPORT AND IMPORT STRUCTURE OF THE TURKISH MANUFACTURING INDUSTRY

Abstract

The main purpose of the study is to examine the effects of the coronavirus epidemic on the export and import structure of the Turkish manufacturing industry. In the analyses, it was observed that the coronavirus epidemic started to affect the manufacturing industry production and foreign trade negatively as of March 2020, and the negative impact increased in April and May. The degree of exposure differs according to sub-sectors. It is observed that the production and trade of goods for basic needs are less adversely affected than other goods groups. On the other hand, the extent of the spreading of the global epidemic will determine the duration of the economic recession and the magnitude of economic and social welfare losses. In order for decision makers to minimize the effects of the coronavirus epidemic on the global, national and the sector, it is of great importance that they strengthen their international cooperation, follow policies and strategies that complement each other in the health-social-economic and political field in order to successfully combat the crisis.