Economic Updates: Turkey

Turkey: Expanding trade with the US

Eastern Europe | 27 Oct 2011
Turkey: Expanding trade with the US

The volume of trade between Turkey and the US is increasing, as the two countries strive to improve commercial ties despite occasional strains in political and military relations. US officials and private sector groups are promoting Turkey to American businesses as a growing economy in a strategic location with a massive labour force.

Turkey: Sustaining growth

Eastern Europe | 20 Oct 2011
Turkey: Sustaining growth

Turkey’s second-quarter GDP growth, released by the central bank on September 11, surprised on the up side, with an 8.8% year-on-year (y-o-y) rise that easily surpassed the 6.4% expected by the market. Growth is down from the 11.6% posted in the first quarter, however, and a looming slowdown in the eurozone has many concerned about Turkey’s exposure.

Turkey: Exchange growth on the horizon

Eastern Europe | 5 Oct 2011
Turkey: Exchange growth on the horizon

While Turkey’s stock market, like most around the world, has witnessed reversals over the year so far, especially in recent months, it has remained a solid long-term investment, out-performing its emerging market peers.

Turkey: Taking action

Eastern Europe | 1 Sep 2011
Turkey: Taking action

The central bank (CB) took several measures in August in an effort to reverse the sharp decline of the lira against global benchmark currencies. Since November 2010, the lira has lost approximately one-quarter of its value, and slid 13.5% against the US dollar so far this year, as international investors have steadily removed their money from Turkish markets.

Turkey: Loading e-commerce

Eastern Europe | 30 May 2011
Turkey: Loading e-commerce

As Turkey’s internet usage rises and opportunities for online shopping gain traction, the rapid expansion of the e-commerce market has attracted the attention of international players.

Turkey: Trade and diplomacy

Eastern Europe | 18 Mar 2011
Turkey: Trade and diplomacy

Trade and diplomacy took centre stage in 2010. In economic terms, it was a year in which Turkey was courted aggressively by both its Western partners and neighbours in the region. The country finished out 2010 with a number of trade agreements either inked or in the works, while the government made much headway in advocating Turkish business interests in its dealings with foreign partners. Meanwhile, Turkey’s main business centre, Istanbul, received a significant publicity boost thanks to its status as the European Capital of Culture for 2010.

Turkey: Breeding hope for meat industry

Turkey | 4 Jan 2011
Turkey: Breeding hope for meat industry

Turkey’s government has relaxed import restrictions to ease a crisis in the livestock industry which has led to skyrocketing meat prices. But as its best efforts falter, cattle-farmers are considering a high-tech embryo transfer system that could one day create a half-Angus, half-Turkish superbreed.