A glance at the world economic events in 2017

 

2017 was full of very important economic events in different parts of the world. The impacts of the business deals which was signed in Turkey, the region and the world will counting until the ages.

January:

The Turkish central bank started offering bonds worth 7 billion Turkish Lira.

The U.S. President Donald Trump criticized investment of General Motors Company outside the U.S. soil, saying all the activities should be transferred to the America or the company should pay large amount of tax because of investment in the other countries.

Turkey, the world’s biggest hazelnut supplier, earned revenues of nearly $2 billion from exports of the nuts in 2017. The hazelnut was exported mainly to Italy, France and Germany, which have robust food industries to process the nuts.

Chinese government announced the country will invest $ 361 million in renewable energy in order to reduce dependence on fossil fuels.

Oil field of “Dashlari” in Azerbaijan hit new record by producing one million tone oil in 2016.

Aselsaan company and Turkish Defense Industries signed a deal worth more than 50 million dollars.

Turkish was ranked as the 14th countries with the big gold resources. The latest report by the World Gold Council shows that Turkey has 396.5 tons of gold.

Turkey and Iraq reached an agreement over expansion of cooperation on the fields of oil and energy.

The central bank of Turkey has announced a $ 1.5 billion liquidity from the country’s foreign exchange reserves for the financial system, due to recent market fluctuations.

Russia’s reserve fund fell from 3.6 trillion rubles to 972 billion rubles, this shows a 73% decrease in 2016 compared to 2015.

Gazprom announced the company will support financially the pipeline of “Turkish Trend” and several other companies.

Following the accusations made by the US Environmental Protection Agency against Fiat Chrysler about the use of the vehicle-level concealment software, the UK Department of Transportation has asked the country to provide details of its investigation.

Turkey hit the record globally by exporting 3.5 million tone flour in 2016.

Russian parliament announced the approval of the construction of the  natural gas pipeline which is expected to export Russia’s natural gas to the Europe through Turkey.

Turkey’s energy minister said the major part of Iran’s $ 1.9 billion gas reimbursement to Turkey will be received in the form of a discount on the price of imported gas from Tehran.

Turkey’s tourism revenue in 2016, declining by 29.7% from last year, was announced at $ 22.1 billion. Foreign trade deficit fell by 11.7 percent to $ 55 billion and $ 996 million February:

the United States of America added 25 individuals and companies to the list of sanctions over their alleged role in Iran’s ballistic missile’s programs.

The world’s smallest electric energy radiator line, designed by Sharm Ghaffari, was designed with the participation of some officials from the West Azerbaijan Province, Director General of Industry and Trade, Chief of the Center for Entrepreneurship and Head of the Techno-Center Center in Turkey.

March:

13th Summit of the Organization for Economic Co-operation (ECO), was launched in Islamabad, capital of Pakistan.

Unemployment rate in Afghanistan increased 35 percent in 2016, compared with 2015, according to the officials.

Slovakia announced will expand economic relations with Iran by investing 30 million euros on wagon section.

Due to the Iraqi government’s false financial policies and widespread corruptions in its body, its debt reached $ 119 billion since 2004.

The second airplane bought from France Airbus company landed in Tehran airport.

April:

Exporter Union of south-eastern Anatoli in Turkey exported goods to the 178 countries worth 2 billion, in the first three months of the year.

The Antalya Governorate said in a report that Russian tourists increased by 816% in March to 24,134 compared to last year.

Attorney General of the Iran’s Compensation Court announced that more than $ 1 billion worth of unconventional revenues had been returned to the country’s treasury.

Representatives of the Global Local Packaging Design Bureau, which consists of 7 design offices from 7 major cities in the world, participated in the 2017 Global Packaging Conference in Istanbul.

The value of US, European and Asian stock exchanges fell due to the US missile attack called the ‘mother of all bombs’ to ISIL positions in Afghanistan.

Five new gas phases in the Southern Pars Gas Field were inaugurated in Iran

The agreement of electronic trade between Turkish Post and Telegram Office and Qatar Post Organization was signed in Doha.

Economy ministers of Turkey and South Sudan signed the agreement on economy and trade cooperation between two countries in Ankara.

The third specialized trade cooperation forum of Turkey and Iran was held.

Turkey announced the amount of agriculture trade between Turkey and Africa has increased 2.5 million dollar since 2003.

 

May:

Port Artoo refinery in Texas, the one of the biggest oil companies in the U.S. announced the end of the transfer of shares to Saudi Arabia’s Aramco Oil Company

U.S. house of representatives approved the 1.1 trillion public budget of the federal government until November.

The Turkish Statistics Center said the country’s youth population in 2016 was about 13 million, or 16.3 percent of the country’s total population.

The first brunch of Iranian Bank “SAMAN” was inaugurated in Rome, Italy.

One hundred Seventy-second meeting of organization of Petroleum Exporting Countries “OPEC” was launched in Vienna to review the decrease in the production of crude oil.

Russian President Vladimir Putin ordered the end of trade restrictions between Russia and Turkey.

June:

Russia and Britain signed agreement over the future cooperation on the produce and sale of natural gas.

With contributions from Pakistan and India to the Shanghai Cooperation Organization, the organization’s economic volume accounted for 20 percent of the world’s economy with 15 trillion dollars.

World Bank approved 500 million dollar new donation for Afghanistan.

Palestine and the United Nations signed a 1.3 billion dollar agreement for supporting the development projects in the occupied lands of Palestine.

European Commission extended economic sanctions on Russia for another year.

The first vessel carrying 4 thousand tones food headed to Qatar after the country was put in a blockade by the four Arabic countries.

Iran started export of gas to Iraq on Wednesday 21 of June.

Iran with 33.5 trillion cubic meter natural gas, has the largest resources of natural gas in the world.

July:

The volume of net purchases by foreign investors during the first six months of the year at the Istanbul Stock Exchange reached more than $ 1.6 billion.

The second summit of Kasa 1000 Project was inaugurated in the presence of leaders from Afghanistan, Pakistan, Tajikistan and Kyrgyzstan.

Turkish World Trade Center was officially opened in Turkey.

Turkish Economy Minister Announces Ankara’s Complaint From Washington to WTO on Anti-dumping US Tariffs on Steel

IMF announced its agreement to pay $ 1.6 billion to Greece in the framework of its financial rescue package.

US Senate Dismisses Obama-Care Cure and health Care Bill by 51 votes and 49 votes.

August:

The Strait of Hormuz, with a daily transfer of 18.5 barrels of oil for the sixth straight year, has become the world’s most expensive offshore oil pipeline.

U.S. President Donald Trump signed the draft of sanctions against Iran, North Korea and Russia, which was approved by the senate.

Turkey issued work permit for 46 thousand and 684 foreigners in the first 6 months of 2017.

Greenhouse gases in Turkey have dropped by more than 87 million tons over the past four years.

United States of America imposed sanctions on 16 individuals and companies alleged for supporting the North Korea’s ballistic missile program and producing of nuclear weapons.

Sea transit route between Qatar and Turkey opened officially.

September:

Turkey’s crude steel production increased by 13.6% in the first seven months of this year and recorded the world’s largest production growth of 21.6 million tons.

Turkey’s economy grew by 5.1% in the second quarter of this year compared to the same period last year.

Turkey announced that conditions for export of poultry products to Japan have been provided.

October:

Russia and Israel signed a cooperation document on the technologies needed to convert natural gas into fuel.

In the first seven months of the year, Turkey imported most of its oil from Iran with more than 7 million tons of crude oil from Iran.

The head of the Moscow Stock Exchange’s exchange office announced that, following talks between the banks of Turkey and Russia, it was supposed to begin trading on this exchange with Turkish lira from 2018.

The IMF predicted Turkey’s economic growth 5.17% in 2017, the IMF said.

The Russian president signed a decree imposing some new economic restrictions on North Korea.

The European Bank for Reconstruction and Development approved the financing of the $ 500 million Trans Anatolian gas pipeline project for the Southern Corridor of Azerbaijan Gas.

“Russia Oil” Oil Company of Russia announced that the company agreed with the northern Iraqi Kurdish region to begin the exploration of five oil blocs.

Export volume of Turkey has increased 10.5 in the first nine months of the 2017.

November:

The four cities of Istanbul, Antalya, Edirne and Artwin, were ranked among the world’s 100 most visited cities this year.

Donald Tramp, U.S. and his Chinese counterpart, Xi Jin Ping, have signed a number of US and Chinese business contracts worth $ 250 billion.

Iran exports to Turkey in the first half of this year a total of 5.4 billion cubic meters of gas from Bazargan border.

December:

Turkey surpassed many countries in the third quarter of this year with 11.1% of economic growth, ranking at the top of the European Union, Group 20 and the Organization for Economic Cooperation and Development.

Saudi Arabia’s government accounted for 21.5 percent; equivalent to $ 56 billion from the 2018 budget, allocating the country to the military and 10.3 percent for security affairs.

US President Donald Tramp signed a $ 1.5 trillion tax package within the framework of the largest reform of the tax system over the past 30 years.

Demonstrations of people in different cities of Iran to protest  economic problems and corruption in the government.