Turkey belongs to the Central Eurasian Economic Area (Turkic area, Islamic Civilization).
Turkish Economy.
The economy of Turkey has had a steady economic growth rate for the last twenty quarters
The Turkish gross national product and GNP per capita shows the strength of the Turkish economy as well as its integration into the global economy
The Republic of Turkey has made significant steps in restructuring Turkish
financial sector,
improving the public sector governance, and business environment
Turkish GDP: 800 billion USD
Average annual real GDP growth: 4.2%
The main sectors of the Turkish economy are agriculture and food,
automotive, Business Services, chemicals, electronics, energy and renewable,
Financial Services, Healthcare and Pharmaceuticals, ICT, Infrastructure, Machinery, manufacturing,
mining, property (real estate), tourism,
transportation, and Logistics
Business in Turkey:
Turkish manufacturing sector: 24% of the GDP
Turkey is the Sixteenth World's largest pharmaceutical product producer
The Turkish agriculture sector will be one of the top five world producers (2023)
Property (real estate) sector in Turkey: 4.6% of the Turkish GDP
A Global leader in dried figs, dried apricots, and hazelnuts production
Turkey is the Seventeenth largest car maker in the World
Turkey is the Seventh largest plastic producer in the World
30 million tourists every year
Inflation in Turkey: 8%
Deep structural reforms
Universal Health Insurance
Health “free zones”
Currency of Turkey: Turkish Lira (TRY)
Turkey is a EU candidate member
Turkish Foreign Trade.
Turkey is a natural bridge between the Asian and the European Markets (Eurasian)
Total Turkish exports: 158 billion USD
Total Turkish imports: 242 billion USD
The main Turkish exports markets
are the EU (56%) (4%), the U.S. (4%), Romania (3%), the UAE (3%), and Iraq (3%)
Textiles and transport equipment are the main imports of the EU from Turkey
The main import providers are Russia, China, Germany, the U.S., Italy, Iran, India, and Spain
The main imports origin of Turkey are the EU (41%), Russia (14%), China
(8%), the U.S. (5%), Iran (4%) and Switzerland (3%)
The main European Union exports to Turkey are machinery, Transport material, and chemical products
Turkey has a Customs Union with the EU
Access to the CIS and the Middle East markets
Access to the Eurasian Land Transport Initiative
Foreign direct investment in Turkey.
Total FDI: 12.5 billion USD
Turkey is the thirteenth most attractive nation in the World for foreign direct investment
41,397 foreign companies are established in Turkey working in wholesale and retail trade, manufacturing, and property (real estate)
Textile production leads the manufacturing sector in foreign direct investment followed by chemicals and food and beverage products
Government body: Ministry of Investment Support and Promotion Agency (ISPAT)
Sample:
(c) EENI Global Business School (1995-2024)
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