TURKEY ECONOMY OVERVIEW
GENERAL ECONOMICAL INDICATORS:
- Currently the 5th biggest economy in Europe
- 2023 target is to join the 3 biggest economies in Europe
- Currently the 16th biggest economy in the World
- 2023 target is to be one of the 10 biggest economies in the world
UNEMPLOYMENT RATE:
- (%)10,3 in 2007
- (%)14,0 in 2009
- (%) 9,8 in 2011
- (%) 8,2 in 2012
GROWTH OF GDP:
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- The 3rd fastest growing economy in the world
- The growth rate in 2010 was % 8,9
- The growth rate in 2011 was % 9,6
- Estimated average growth rate for 2012-2014 is % 5
- 2002 Per Capita GDP (USD) was 3.492$
- 2011 Per Capita GDP (USD) was 10.444 $r
- 2012: 12.412 $
- 2023: 25.000 $
Foreign Capital Inflow:
-
- In the last 9 years, 109,4 billion dollars worth foreign direct investments have been realized.
- The foreign Capital inflow is 15,7 (Billion USD) in 2011
Foreign Trade Capacity:
• Annual Import in 2012(JULY) - 238,0 (Billion) USD (2011-240,8)
• Annual Exports in 2012 144,7 (Billion USD) (2011-134,9)
• By the 100th years Anniversary of the foundation of Republic of Türkiye, the export target is expected as 500 Billion USD in 2023
• 2023 Turkish Machinery Industry export target volume is 100 billion USD
• 2023 Turkey`s foreign trade capacity is estimated as 2 Trillion USD
INFLATION:
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- Average Inflation in 1995– 2001:: (%) 71,6
- Average Inflation in 2002 – 2011: (%) 10,5
- Estimated Average Inflation in 2012 – 2014: (%) 5
FOREIGN TRADE:
-
- Annual Imports in 2012 (JULY): 238,0 (Billion) USD (2011-240,8)
- Annual Exports in 2012: 144,7 (Billion USD) (2011-134,9)
- By the 100th anniversary of the foundation of the Republic of Türkiye in 2023, exports are expected to reach
500 Billion USD
-
- 2023 Turkish Machinery Industry export target volume is 100 billion USD
- 2023 Turkey`s foreign trade capacity is estimated at 2 Trillion USD
RESEARCH AND DEVELOPMENT EXPENDITURES:
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- In 2002, 3 billion dollars.
- In 2010, 9.6 billion dollars.
- R&D expenditures increased by 218 % between 2002 and 2010