TITLE:
COVID-19, Sino-Türkiye Economic Relations and Consequences of Trade Deficits in Türkiye
AUTHORS:
Betul Busra Camlibel
KEYWORDS:
COVID-19, Sino-Türkiye Trade, Trade Deficits, Economic Resilience, Digital Trade, Pandemic Response Strategies
JOURNAL NAME:
Open Journal of Business and Management,
Vol.13 No.1,
January
24,
2025
ABSTRACT: This paper discusses the effect of COVID-19 on the trade volume of the China and Türkiye trade, evaluating the effects of trade deficit and determining ways forward in period of and after the pandemic. The current theoretical framework involved a quantitative synthesis of past literature to conceptualize previous experiences of trade disruption and economic management during health crises. Using quantitative research descriptive and inferential data were collected through survey questionnaires from purposively targeted 50 industry. Surveys were analyzed in Statistical Package for Social Sciences (SPSS) using frequency tables, correlation coefficients, regression analysis and factor analysis. Findings showed that there were breakdowns of trade volumes and pinpointed fundamental important factors relating to trade imbalances such as digital trade, strategic economic adjustments. In accordance with the results presented in Table 3, COVID-19 is revealed as a major drag on Sino-Türkiye trade relations, and deepening trade deficits. The measures like improving digital trade enablers and diversifying economic measures were acknowledged as pivotal to mitigation. In this study, it is found that setting up effective plans for economic and trade cooperation for both the exporting and importing countries can avoid the harm of trade deficits for the domestic economy and also can increase the economic stability in the longer run.