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TURKEY

Global Trade Volume of Turkey

The Turkish economy, one of the countries where PraeGlobal is active, is defined by the IMF as the developing market economy. Turkey, seen among the new industrialized countries, has a largely developed economy. Turkey, the world’s largest 18 economies by GDP. It is among the leading producers in agriculture, textile, motor vehicles, consumer electronics and white goods sector.

Population Statistics

2012 2013 2014 2015 2016 2017
Population (million) 74,57 75,79 77,03 78,27 79,51 80,81

 

Turkey Economy Data

REAL

ECONOMY

2012 2013 2014 2015 2016 2017 17 ç1 17 ç2 17 ç3 17 ç4
 Growth of GDP (annual, %)  4.8  8.5  5.2  6.1  3.2    5.3  5.4  11.1  
 Nominal GDP (billion USD)  831.7  950.4  934.9  861.9  862.7    175.9  205.2  234.6  
CPI Inflation (yearly, %)   6.2  7.4  8.2  8.8  8.5  11.9  11.3  10.9  11.2  11.9
 Jobless rate (%)  9.2  9.7  9.9  10.3  10.9    11.6  11.2  10.7  

Traiding Qualities

  1. Agriculture

    24.5% of arable land are located in Turkey’s territory and it consists of the soil 1. 2nd and 3rd class. The variety of crops grown because of the climate is favorable and soil variety is high. The distribution of agricultural areas by regions varies. Depending on the elevation of ground shapes and roughness, the areas covered by agricultural areas vary. The Black Sea region consists of vineyards, gardens and wooded areas. There are industrial plant areas in the Aegean region and industrial plant areas in the Mediterranean region as well as forest areas. There are industrial plant areas and agricultural lands in Marmara region and agricultural and grazing areas in inland regions.

  2. Industry

    In the first years of the Republic, the state gave priority to the production of sugar, cotton, flour, coal, fuel and iron in order to provide import substitution. With the establishment of the state planning organization, industrialization has become more important. Especially the government of the time and the industrial establishments producing the internal pazars by this organization were supported but after a while the effect decreased. On this basis, an understanding of the industry emerged that emphasized the production of short-term consumer goods. In consumer electronics, Vestel has become Europe’s largest television producer. In textile clothing, Turkish companies made 76.33% of their clothing exports to EU member countries. In 2008, it became the 5th largest producer of Europe in the automotive and motor vehicles sector. Turkey ranks 8th among the countries that produce iron and steel. Turkey’s most competitive, comes at the beginning of the construction sector is the most dynamic sector.

  3. Services

    There are 55 civilian airports in Turkey, 22 of which are in international standards. Istanbul Atatürk Airport is the 15th busiest airport. It is planned that the 3rd airport in Istanbul will be the biggest airport in the world. The railway network is the 22nd in the world rankings. In the communications sector, it is ranked 15th in the world in terms of number of fixed line users. There are three major mobile phone operators and over 65 million registered mobile phone users. n recent years, significant achievements have been achieved in the Turkish tourism sector. It has become a health tourism region with its qualified service and skilled doctors. The Central Bank, established in 1930 in the finance sector, is the only institution in Turkey that has the authority to print paper notes. Furthermore, the bank, which conducts monetary and credit policy, is an independent economic institution.

  4. Natural Resources

    In terms of natural resources, 60 of the 90 mines produced in the world are located in Turkey. It is in the 10th place in terms of mineral diversity in the world. While the country exports high quality and abundant mines, it also imports the mines that the industry needs. 72% of all the world’s reserves of boron ore, which is shown as the energy source of the future, are in Turkey. In the energy sector, it imports 90% of oil consumption. In terms of nuclear energy, the country is planning to build several nuclear power plants. In addition, the world’s fifth highest geothermal energy adequacy.

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