Turkey
TURKEY
A. General Info:
| Official Name | Republic of Turkey |
| Capital | Ankara |
| Main Cities | Ankara, Istanbul, Izmir, Bursa, Adana |
| Languages | Turkish |
| Government | Parliamentary republic |
| Independence | 29 October 1923 |
| Area | 783, 562 sq km |
| Population | 73,722,988 (2010 census) |
| Currency | Turkish Lira |
| Fiscal year | Calendar year |
| Climate | Mediterranean on the south coast, continental inland |
| Time Zone | 2 hours ahead of GMT, 3 hours in Summer |
| Measures | Metric system |
| Main Airports | Ataturk Airport, Sabiha Gokcen, Esenboga, Sakirpasa, Antalya, Adnan Menderes |
| Main Harbors | Istanbul, Izmir, Mersin, Antalya, Izmit, Samsun |
Source: National sources, 2011
B. Economic Indicators
|
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
||
| GDP | |||||||
| Nominal GDP (US$bn) |
482,986 |
530,917 |
647,140 |
730,325 |
615,483 |
713,028 |
|
| Real GDP Growth (%) |
8.4 |
6.9 |
4.7 |
0.7 |
-4.7 |
4.0 |
|
| Expenditure on GDP (% real change) |
|
||||||
| Private Consumption |
7.9 |
4.6 |
5.5 |
-0.3 |
-2.3 |
3.0 |
|
| Government Consumption |
2.5 |
8.4 |
6.5 |
1.7 |
7.8 |
10.0 |
|
| Gross fixed Investment |
17.4 |
13.3 |
3.1 |
-6.2 |
-19.2 |
4.5 |
|
| Export of goods & services |
7.9 |
6.6 |
7.3 |
2.7 |
-5.4 |
4.5 |
|
| Import of goods & services |
12.2 |
6.9 |
10.7 |
-4.1 |
-14.4 |
8.8 |
|
| Origin of GDP (%real change) |
|
||||||
| Agriculture |
7.2 |
1.4 |
-6.7 |
4.3 |
3.6 |
0.0 |
|
| Industry |
8.7 |
10.2 |
5.8 |
-1.3 |
-8.6 |
3.5 |
|
| Services |
8.0 |
6.0 |
6.1 |
1.6 |
-3.2 |
5.0 |
|
| GDP per capita (US$ at PPP) |
10,728 |
11,714 |
12,480 |
12,700 |
12,130 |
12,660 |
|
| Recorded unemployment (av; %) |
10.2 |
9.9 |
10.3 |
11.0 |
14.0 |
13.2 |
|
| Fiscal Indicator (% of GDP) |
|
||||||
| Central government revenue |
21.3 |
22.9 |
22.6 |
22.1 |
22.5 |
21.2 |
|
| Central government expenditure |
22.5 |
23.5 |
24.2 |
23.9 |
28.0 |
26.4 |
|
| Central government balance |
-1.5 |
-0.6 |
-1.6 |
-1.8 |
-5.5 |
-5.3 |
|
| Gross public debt |
51.1 |
45.5 |
39.6 |
40.0 |
46.3 |
48.5 |
|
| Prices and financial indicators |
|
||||||
| Exchange Rates TL:US$ (end-period) |
1.345 |
1.409 |
1.171 |
1.526 |
1.491 |
1.572 |
|
| Consumer Prices (av.; % change) |
7.7 |
9.7 |
8.4 |
10.1 |
6.5 |
2.139 |
|
| Stock of money M1 (% change) |
120.2 |
6.6 |
11.2 |
9.0 |
12.6 |
9.5 |
|
| Lending interest rate (av.; %) |
26.0 |
28.0 |
27.0 |
26.5 |
21.0 |
21.5 |
|
| Current Account (US$m) |
|
||||||
| Trade Balance |
-32,988 |
-40,941 |
-46,669 |
-52,844 |
-24,845 |
-71,560 |
|
| Goods: exports fob |
78,365 |
93,611 |
115,356 |
140,999 |
109,646 |
113,975 |
|
| Goods: imports fob |
-111,353 |
-134,552 |
-162,025 |
-193,843 |
-134,491 |
-185,535 |
|
| Services Balance |
15,272 |
13,831 |
13,879 |
17,513 |
16,371 |
18,617 |
|
| Income Balance |
-5,875 |
-6,691 |
-7,143 |
-7,964 |
-7,667 |
-8.883 |
|
| Current-transfer balance |
1,454 |
1,908 |
2,236 |
2,006 |
2,288 |
2,651 |
|
| Current-account balance |
-22,137 |
-31,893 |
-37,697 |
-41,289 |
-13,853 |
-28,272 |
|
| External Debt (US$m) |
|
||||||
| Debt stock |
169,269 |
207,773 |
251,477 |
278,326 |
271,140 |
284,572 |
|
| Debt service paid |
41,010 |
40,510 |
48,97 |
63,049 |
67,507 |
53,979 |
|
| Principal repayments |
32,537 |
31,012 |
36,807 |
49,433 |
58,549 |
45,720 |
|
| Interest |
8,474 |
9,498 |
11,989 |
13,616 |
8,958 |
8,260 |
|
| International Reserves (US$m) |
|
||||||
| Total international reserves |
52,491 |
63,265 |
76,507 |
73,657 |
74,995 |
77,605 |
|
Source: IMF, International Financial Statistics 2011
C. Trade
C.1. Turkey’s Trade with the World
|
US$ Mn. |
2006 |
2007 |
2008 |
2009 |
2010 |
| Export (fob) |
85,535 |
107,272 |
126,064.3 |
102,139 |
113,975 |
| Import (cif) |
139,576 |
170,063 |
191,260 |
140,869 |
185,535 |
| Trade Volume |
225,111 |
277,335 |
317,324.3 |
243,008 |
299,510 |
| Trade Balance |
-54,041 |
-63,791 |
-65,195.3 |
-38,730 |
-71,560 |
| World Trade (US$ Bn) |
24,294 |
27,845 |
32,215 |
24,948 |
28,143 |
| Share |
0.92% |
0.99% |
0.98% |
0.97% |
1.06% |
Source: IMF, International Financial Statistics 2011
C.2. Turkey’s trade with D-8 Countries
|
US$ Mn. |
2006 |
2007 |
2008 |
2009 |
2010 |
| Export (fob) |
2,225.73 |
2,953.76 |
4,033.85 |
5,589.50 |
6,447 |
| Import (cif) |
8,912.95 |
11,179.6 |
13,619.63 |
7,773.33 |
13,369 |
| Trade Volume |
11,138.68 |
14,133.36 |
17,653.48 |
13,362.83 |
19,816 |
| Trade Balance |
-6,687.22 |
-8,225.84 |
-9,585.78 |
-2,183.83 |
-6,922 |
| D-8 Intra Trade (US$ Mn) |
49,806.52 |
66,828.03 |
78,382.2 |
66,947.63 |
101,139 |
| Share |
22.36% |
21.15% |
22.52% |
19.96% |
19.59% |
Source: IMF, International Financial Statistics 2011
C.3. Turkey’s Trade by 10 Main Commodities
C.3.1 Export by 10 Principal Commodities, (million US$)
|
No. |
Commodity
|
2006 |
2007 |
2008 |
2009 |
2010 |
|
1. |
Vehicles other than railway, tramway |
11,886.09 |
15,903.67 |
18,326.82 |
12,257.71 |
13,814.5 |
|
2. |
Nuclear reactors, boilers, machinery, etc |
6,516.72 |
8,781.25 |
10,258.09 |
8,131.79 |
9,415.3 |
|
3. |
Iron and steel |
6,273.35 |
8,372.26 |
14,946.35 |
7,641.79 |
8,761.2 |
|
4. |
Articles of apparel, accessories, knit or crochet |
6,938.27 |
8,022.46 |
7,827.99 |
6,930,66 |
7,741.7 |
|
5. |
Electrical, electronic equipment |
6,327.75 |
7,422.51 |
7,970.47 |
6,658.16 |
7,530.9 |
|
6. |
Pearls, precious stones, metals, coins, etc |
1,824.13 |
2,623.77 |
5,383.13 |
5,929.22 |
4,855.1 |
|
7. |
Mineral fuels, oils, distillation products, etc |
3,567.42 |
5,147.93 |
7,531.46 |
5,030.49 |
4,639.9 |
|
8. |
Articles of iron or steel |
3,336.37 |
4,129.75 |
5,742.37 |
4,551.07 |
4,505.8 |
|
9. |
Articles of apparel, accessories, not knit or crochet |
4,710.98 |
5,445.28 |
5,326.79 |
4,295.21 |
3,748.6 |
|
10. |
Plastics and articles thereof |
2,214.26 |
2,822.05 |
3,563.19 |
3,093.38 |
3,717.4 |
Source: WTO, International Trade Centre 2011
C.3.2 Import by 10 Principal commodities, (million US$)
|
No. |
Commodity
|
2006 |
2007 |
2008 |
2009 |
2010 |
| Mineral fuels, oils, distillation products, etc |
28,859.1 |
33,883.1 |
48,281.2 |
29,887.1 |
38,496.3 |
|
|
2. |
Machinery, nuclear reactors, boilers, etc |
18,998.7 |
22,570.3 |
22,539.3 |
17,124.5 |
21,266.4 |
|
3. |
Iron and steel |
11,525.2 |
16,182.4 |
23,157.9 |
11,341 |
16,118.9 |
|
4. |
Electrical, electronic equipment |
10,881.3 |
13,295.4 |
13,892.2 |
12,244.1 |
14,641.8 |
|
5. |
Vehicles other than railway, tramway |
11,408.4 |
12,397.3 |
12,789.6 |
8,972.9 |
13,419.4 |
|
6. |
Plastics and articles thereof |
6,918.4 |
8,688.1 |
9,385.5 |
6,938.8 |
9,730.4 |
|
7. |
Pharmaceutical products |
3,035.6 |
3,523.6 |
4,360.5 |
4080497 |
4,410.1 |
|
8. |
Organic chemicals |
3,642.2 |
3,995.8 |
4,421.3 |
3,340.6 |
4,400.3 |
|
9. |
Optical, photo, technical, medical, etc apparatus |
2,722.9 |
3,012.1 |
3,444.9 |
2,832.8 |
3,437.7 |
|
10. |
Cotton |
2,090.2 |
2,829.5 |
2,331.9 |
2,097.9 |
3,385.8 |
Source: WTO, International Trade Centre 2011
C.4 Export and Import by Main Destination Country
Export by Main Destination Country (% of total)
|
Country |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
| Germany |
12.9 |
11.3 |
11.2 |
9.8 |
9.6 |
10.1 |
| United Kingdom |
8.1 |
8 |
8 |
6.2 |
5.8 |
6.4 |
| Italy |
7.6 |
7.9 |
7 |
5.9 |
5.8 |
5.7 |
| France |
5.2 |
5.4 |
5.6 |
5 |
6.1 |
5.3 |
| Iraq |
3.7 |
3 |
2.7 |
3 |
5 |
5.3 |
| Russia |
3.2 |
3.8 |
4.4 |
4.9 |
3.1 |
4.1 |
| Others |
59.3 |
60.6 |
61.1 |
65.2 |
64.6 |
63.1 |
Source: WTO, International Trade Centre 2011
Import by Main Origin Country (% of total)
|
Country |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
| Russian Federation |
11.1 |
12.8 |
13.8 |
15.5 |
10.3 |
11.6 |
| Germany |
11.7 |
10.6 |
10.3 |
9.3 |
10.6 |
9.5 |
| China |
5.9 |
6.9 |
7.8 |
7.8 |
9.5 |
9.3 |
| United States of America |
4.6 |
4.5 |
4.8 |
5.9 |
6.5 |
6.6 |
| Italy |
6.5 |
6.2 |
5.9 |
5.5 |
5.8 |
5.5 |
| France |
5.0 |
5.2 |
4.6 |
4.5 |
5.0 |
4.4 |
| Others |
55.2 |
53.8 |
52.8 |
51.5 |
52.3 |
53.1 |
Source: WTO, International Trade Centre 2011
D. Foreign Direct Investment (Overview, selected years)
|
US$ Mn |
FDI Flows |
FDI Stocks |
||||||||
|
2005 |
2006 |
2007 |
2008 |
2009 |
1995 |
2000 |
2007 |
2008 |
2009 |
|
| Inward |
10,031 |
20,185 |
22,046 |
18,198 |
7,610 |
14,972 |
19,204 |
157,649 |
69,871 |
77,729 |
| Outward |
1,064 |
924 |
2,106 |
2,585 |
1,551 |
1,425 |
3,668 |
12,210 |
13,865 |
14,790 |
Source: UNCTAD, 2011
E. Agriculture: Food Commodities
|
US$ Mn |
2008 |
2009 |
2010 |
| Export |
2,375 |
2,286 |
2,734.5 |
| Import |
6,532.7 |
5,273 |
4,210.3 |
| Trade Volume |
8,907.7 |
7,559 |
6,944.8 |
| Trade Balance |
-4,157.7 |
-2,987 |
-1,475.8 |
| Turkey’s Total Trade |
317,324.3 |
243,008 |
299,510 |
| Share to Turkey’s Total Trade |
2.8% |
3.1% |
2.3% |
Source: WTO, FAO, 2011
F. Energy
F.1 Oil
|
Petroleum (Thousand Barrels per Day) |
2006 |
2007 |
2008 |
2009 |
2010 |
| Total Oil Production |
43.95 |
45.53 |
46.12 |
46.84 |
47.24 |
| Consumption |
677.62 |
690.55 |
675.54 |
680.24 |
700.12 |
| Refinery |
714 |
714 |
719 |
719 |
719 |
| Proved reserved (billion barrels) |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
Source: BP statistics, 2011
F.2 Natural Gas
| Natural Gas (Billion Cubic Feet/day) | 2006 | 2007 | 2008 | 2009 |
2010 |
| Total Production |
0.032 |
0.031 |
0.031 |
0.031 |
0.031 |
| Consumption |
1.10 |
3.4 |
3.5 |
3.5 |
3.6 |
| Proved reserved (trillion cubic meters, TCM) |
0.30 |
0.30 |
0.30 |
0.30 |
0.30 |
Source: BP statistics, 2011
F.3 Others Energy
|
Energy |
Year |
|||
|
2008 |
2009 |
2010 |
||
| Biofuels production (thousand barrels daily) |
1.3 |
1.3 |
1.4 |
|
| Electricity Generation (Terawatt-hours) |
33.3 |
36.0 |
51.9 |
|
| Renewable Energy (Installed Capacity) | Geothermal (mega-watts) |
34.6 |
81.6 |
81.6 |
| Solar (mega-watts) |
4.0 |
5.0 |
6.0 |
|
| Wind (mega-watts) |
512 |
984 |
1,512 |
|
Source: BP statistics, 2011
