Journal of Current Research on Business and Economics (JoCReBE) - ISSN: 2547-9628

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Abstract


Importance of Input Inventory for Foreign Trade Gains: A Scrap Input Inventory Proposal for Turkey Iron - Steel Industry

In terms of international economic policy, strategies and plans related to foreign trade goods and services gain importance. Achieving gains from foreign trade and / or increasing earnings by minimizing losses can be a measure of success. This study emphasizes the importance of providing input for taking and maintaining domestic and international market advantages in the iron steel industry which is very important in terms of Turkey's economy. Foreign dependency in input procurement may lead to foreign trade deficits and even balance of payments deficits. In this study, first of all, how the strengths and weaknesses in terms of foreign trade policy can be revealed in generally then as an outward oriented sector the iron-steel sector and the importance of scrap input as the main inputs in this sector are expressed. Both the import and export mobility of the scrap input have been discussed, separated as a product group and then tested in the international economic structure. The importance of scrap input in production technologies has been expressed and its role in recycling has been put forward, and finally, the proposal on creating a “domestic scrap input inventory”, which is the main emphasis of the study, has been expressed.



Keywords
International economic policy, Iron and steel sector, Scraps, Foreign trade deficits, Economic self-sufficiency



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