Business in Turkey. Turkish economy, Foreign Trade. Istambul Ankara

Summary

Fiscal discipline and a tight fiscal policy continue to be the main pillars of Turkey’s economic program and have contributed a great deal to disinflation as well as to a strong growth performance. Turkey has a total population of 70 million, of which 24.6 million people are active in the labor force.

In addition to the sound macroeconomic policies, Turkey has implemented a comprehensive and far-reaching structural reform agenda. Compared with the experiences of other countries, Turkey’s success has been remarkable primarily because of the speed with which it has conducted structural and institutional changes. Indeed, Turkey has made large strides in restructuring its financial sector as well as improving public sector governance and its business environment. 

Turkey has been a member of World Trade Organization, since 1995. Its commitment to integrating with regional and international trade norms is seen in its participation in and membership of various organizations such as: Economic Cooperation Organization (ECO), UNCTAD, Black Sea Economic Cooperation Organization, World Custom Organization, International Chamber of Commerce, Islamic Cooperation Organization, D-8 , Stability Pact, and various other organization.

The Turkish economy has had a steady growth rate for the last 20 quarters. GNP and GNP  per capita figures highlight the strength and the stability of the national economy as well as its integration to macroeconomic global trends.

In recent years, the Turkish economy has displayed a high growth performance due to decisively implemented structural reforms as well as successful macroeconomic policies; it has become one of the fastest growing economies in the world. The average real GDP growth rate, which was 2.4% during the 1992-2001 period, reached 7.45% in the 2002-2006 period.

Turkey is the 13th most attractive country in the world for FDI ...

Turkey is the 13th most attractive country in the world for FDI...

As of May 2007, a total of 16,500 companies with international capital were operating in Turkey. Among these, 13,549 companies and branch offices with international capital have been established and 2,951 foreign capital participations in the existing companies incurred.

The majority of the 16,500 companies financed with international capital is in the wholesale and retail trade sectors; this is followed by manufacturing, real estate renting and other business activities. Textile goods production leads the manufacturing sector in investments followed by chemicals and food and beverage products 

In 2006, both exports and imports reached an all time high: exports increased by 16.% reaching $85.1 billion USD, while imports rose by 18% amounting to $137 billion USD. The table below shows Turkey's historic trade figures for the years 1995-2006.

With respect to Turkey's imports by country groups, EU members have maintained the highest position since 1980. Between 1999 and 2005, while it was observed that imports from EU members rose from around 44% to 52%, there was also a marked increase in imports from Asia, the Black Sea Economic Cooperation Member Countries, and the Common Wealth of Independent States which has attracted significant attention.

In 2005, the share of imports to OECD countries was 56.6%. The highest position among the OECD countries was held by the EU members with a total market share of 42.2%. In 2005 the top 5 countries in terms of imports were Germany, Russia, Italy, China and France. The overall share of these 5 countries in imports was 40.1%.

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Master in Business with Muslims countries - Master Executive in International Business, Global Marketing and Internationalization - Master in Emerging Markets

İhracat Export Uluslararası Ticaret

Doing Business in Turkey DIŞ TİCARET VE ULUSLAR ARASI ÇALIŞMA YÖNETİMİ (UYGULAMALI EĞİTİM)

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