Turkey's energy import and current account deficit

Turkey, an emerging economy, meets almost 75% of its energy demand through imports. This heavy dependence of this country on energy, adversely affects the trade balance and increases the current account deficit. This thesis studies energy sources, energy supply-demand and power production-consumption in the World and in Turkey. Furthermore, the impact of industrial production in Turkey on energy imports has been analyzed with the purpose of understanding the impact of oil and natural gas imports on current account deficits. It has been observed that a rise in oil and gas imports increases current account deficit. Potential role of a switch to alternative and sustainable sources of energy is also discussed within the context of the energy import-current account deficit nexus. Keywords: Current Account Deficit, Energy Imports, Natural Gas Imports, Oil Imports, Renewable Energy.