Ankara and Moscow each have their reasons to be furious with each other. It was not easy for Turkey to decide to down a warplane that violated its airspace without knowing where it came from, nor was it easy for Russia to just let it go after losing a jet and a pilot. And the political revenge is sanctions. The foreign trade volume between Turkey and Russia soared from $26.2 billion in 2010 to $31.2 billion by the end of 2014, a 17.3 percent upsurge. However, it was turned upside down after the incident on Nov. 24, 2015. While Russia was Turkey's seventh-largest import partner in 2014, it is now 20th as of May. In the first five months of this year Turkey's exports to Russia fell dramatically, nearly 75 percent when compared to the same time period of 2014.Keeping the import level high is a must for Turkey since the country aims to reach $500 billion annual trade volume and become one of the 10 biggest economies in the world in 2023, the 100th anniversary of the Republic. However, during a period where Turkey lost this valuable trade partner, the country reached a growth level of 4.8 percent in the first quarter of this year.
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