Oil Report

UPDATE 1-Turkey sees 2007 imports at $160 bln-trade minister

(Adds details, background)

ANKARA, Sept 26 (Reuters) - Turkey’s total imports are expected to reach $160 billion this year, Trade Minister Kursad Tuzmen said on Wednesday.

He also said the country’s imports of natural gas and crude oil would total $35 billion this year. Turkey is dependent on gas and oil imports to meet rising energy demand in the country, which has grown sharply in the wake of a 2001 financial crisis.

Last year, gas and oil imports amounted to $28.55 billion.

“We expect that imports will reach $160 billion this year. Exports this year are expected to be $100 billion,” Tuzmen said in a speech.

At the start of the year the government set a target of $149.7 billion in imports and $95 billion in exports.

Last year the country’s total imports amounted to $137 billion, racing ahead of exports which totalled $85 billion.

Tuzmen also said Turkey targeted exports of $200 billion in 2013, amounting to a total trade volume of at least $450 billion.