Economic Updates: Turkey

Turkey: Year in Review 2011

Eastern Europe | 16 Jan 2012
Turkey: Year in Review 2011

In a sign that the country has performed well in the face of debt crisis affecting its neighbours in the EU, the Turkish government announced in January that the economy expanded 8% in 2011, with the construction, manufacturing, and retail sectors leading the way. Fears of a hard landing still remain, given Turkey’s chronic current account deficit and its recent struggles with inflation, but a burgeoning domestic economy, combined with political stability and a healthy fiscal position, have enabled the country to post decent macroeconomic data.

Turkey: Building opportunities

Eastern Europe | 11 Jan 2012
Turkey: Building opportunities

The Van earthquake in late October, which stunned Turkey and dominated press headlines for weeks, has also brought renewed efforts to deal with the country’s decrepit and dangerous urban housing stock.

Turkey: Attractive destination

Eastern Europe | 12 Dec 2011
Turkey: Attractive destination

Already the world’s 7th most-popular tourist destination, Turkey has continued to grow in 2011, as economic expansion and political stability raise its profile in the region. The country saw a 10.76% increase in visitors between January to September 2011 compared to the same nine-month period in 2010.

Turkey: Energy-sector manoeuvres

Eastern Europe | 24 Nov 2011
Turkey: Energy-sector manoeuvres

At the high-profile Black Sea Energy and Economy Forum, Turkey’s top leadership expressed strong rhetorical support for the Nabucco gas pipeline project, while reminding Europe that the country plays the key role in Nabucco’s success and implying that more serious consideration needs to be given to its EU membership bid.

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.