Export Potential Not Being Realised

BMI 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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