Companies / Turkey
Export Potential Not Being Realised
April 2007 | Industry NewsBMI will maintain its forecast for the Turkish exports sector after corroboratory data was recently released by the Pharmaceutical Manufacturers Association of Turkey (IEIS). In 2006, Turkey exported US$311mn worth of pharmaceuticals and BMI forecasts that this will grow to US$499mn by 2011. However, the market is still not reaching its full potential and suffers from a number of inefficiencies, including interventionist policies from the state and a lack of technical capabilities. As a result, imports will continue to dominate and by 2011 the pharmaceutical trade balance should have deteriorated further to -US$3.3bn.
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