economy of turkey
Economy of Turkey
About Turkey – Turkey is a vibrant amalgamation of two unique cultures, reflecting a diverse collection of ideas, beliefs and values. Crossing both European and Middle Eastern boundaries, Turkish society is patriotic and proud of its ancestry and achievements. The rapid modernisation of the country, combined with its traditional values, makes Turkey a fascinating market for foreign businesses but requires an understanding of its cultural design in order to secure your future business success
Some statistics
GDP - $1.358 trillion (PPP, 2012) $ 789.257 billion (nominal, 2012)
GDP by sector - agriculture 8.9% Industry 28.1% Services 63.0% (2012)
As of 2010 16.9% people in turkey were below poverty line. The number of labour force in 2012 in turkey was 27.34 million. Also about 1.2 million Turkish people work overseas. As of 2013 unemployment rate were 8.8 %. Main industries in turkey are textiles, food processing, autos, electronics, tourism, mining, steel, petroleum, construction, lumber and paper.
Turkey’s economy – turkey has the world’s 17th largest nominal GDP and the 15th largest GDP by PPP. While many countries have been unable to recover from the recent financial recession, the Turkish economy expanded by 9.2% in 2010 and 8.5% in 2011, this figures show turkey as the fastest growing economy in the Europe and one of the fastest growing economies in the world. Economists and political scientists often cite Turkey as the newly industrialised country.
Turkey has achieved strong growth in terms of GDP and employment and its public finances are in comparatively good shape. Turkey 's bounce-back from the global slowdown has indeed been impressive, with a growth rate comparable to China 's in 20I0-II, at close to 9% per annum. The recovery was facilitated by macroeconomic policy stimulus but its pace largely reflects private sector dynamism, both in the Istanbul
About Turkey – Turkey is a vibrant amalgamation of two unique cultures, reflecting a diverse collection of ideas, beliefs and values. Crossing both European and Middle Eastern boundaries, Turkish society is patriotic and proud of its ancestry and achievements. The rapid modernisation of the country, combined with its traditional values, makes Turkey a fascinating market for foreign businesses but requires an understanding of its cultural design in order to secure your future business success
Some statistics
GDP - $1.358 trillion (PPP, 2012) $ 789.257 billion (nominal, 2012)
GDP by sector - agriculture 8.9% Industry 28.1% Services 63.0% (2012)
As of 2010 16.9% people in turkey were below poverty line. The number of labour force in 2012 in turkey was 27.34 million. Also about 1.2 million Turkish people work overseas. As of 2013 unemployment rate were 8.8 %. Main industries in turkey are textiles, food processing, autos, electronics, tourism, mining, steel, petroleum, construction, lumber and paper.
Turkey’s economy – turkey has the world’s 17th largest nominal GDP and the 15th largest GDP by PPP. While many countries have been unable to recover from the recent financial recession, the Turkish economy expanded by 9.2% in 2010 and 8.5% in 2011, this figures show turkey as the fastest growing economy in the Europe and one of the fastest growing economies in the world. Economists and political scientists often cite Turkey as the newly industrialised country.
Turkey has achieved strong growth in terms of GDP and employment and its public finances are in comparatively good shape. Turkey 's bounce-back from the global slowdown has indeed been impressive, with a growth rate comparable to China 's in 20I0-II, at close to 9% per annum. The recovery was facilitated by macroeconomic policy stimulus but its pace largely reflects private sector dynamism, both in the Istanbul
References: Health in turkey (2013), retrieved from www.healthinturkey.org/en-EN/political-enviroment/32.aspx World Economic Outlook Database, October 2012, International Monetary Fund