Turkey

Turkey

Turkey

General Info

Official Name Republic of Turkey
Area 783,562 sq km
Arable as % of Total Land 30%
Population 70.5 m.
Main Cities Istanbul, Ankara (capital), Izmir, Bursa, Adana
Climate Mediterranean on the south coast, continental inland
Language Turkish
Measures Metric system
Currency Turkish Lira
Time 2 hours ahead of GMT; 3 hours in summer
Weekends Saturday, Sunday
Main Harbours Istanbul, Izmit, İzmir, Mersin, Antalya, Iskenderun, Trabzon
Main Airports Istanbul-Ataturk, Ankara, Izmir

Location and Geography:

Turkey is the largest country in Europe (aside from Russia). It is bordered by Georgia, Armenia, Azerbaijan and Iran in the East, Iraq, Syria and the Mediterranean Sea in the South, Greece and Bulgaria in the North-west, the Black Sea in the North, and the Aegean Sea in the West. Marmara is an inland sea that separates Europe and Asia by two natural passages: Dardanel and Bosphorus. The land in Europe is called Trakya. Anatolia, which is the land area located in Asia, is a high plateau bounded by the Pontic Mountains in the North, the Taurus Mountains in the South, and stretching out to the peak of Mount Ararat in the Caucasus Mountains in the East. Mountain ranges give way to narrow coastal plains in the North-east and South, and to treeless valleys between rolling hills and low mountains in the centre. The climate varies considerably across Turkey from North to South and West to East. It is mild on the Black Sea coast, warm on the Aegean and Mediterranean coasts, and cold and dry in the inland.

Economic Indicators

2003 2004 2005 2006 2007
GDP
Nominal GDP (US$bn) 304,901 390,387 481,497 526,429 658,786
Real GDP Growth (%) 5.3 9.4 8.4 6.9 4.5
Origin of GDP (%real change)
Agriculture -2.0 2.8 7.2 1.4 -6.8
Industry 7.8 11.8 8.7 10.2 5.4
Services 5.3 9.2 8.0 6.0 5.9
GDP per capita (US$ at PPP) 6,362 7,011 7,654 8,332 8,820
Prices and financial indicators
Exchange Rates YTL:US$ (end-period) 1.397 1.340 1.345 1.409 1.162
Consumer Prices (end period; % change) 18.4 9.3 10.5 9.6 8.4
Lending interest rate (av; %) 48 35 26 28 27
Trade Balance -22,087 -34,373 -43,298 -54,041 -62,842
Goods:exports fob 47,253 63,167 73,476 85,535 107,215
Goods: imports cif -69,340 -97,540 -116,774 -139,576 -170,057
Current-account balance (US$bn) -14.4 -22.1 -31.9 -37,9
External Debt (US$m)
Debt stock 144,351 161,052 169,279 207,854 247,183
Debt service paid 28,272 32,973 41,313 40,511 53,146
Interest 6,723 7,335 8,474 9,500 13,164
Total International Reserves (US$m) 35,549 37,252 52,491 63,265 76,507

Trade Figures

a.

US$m

2003

2004

2005

2006

2007

Exports (FOB)

47,253

63,167

73,476

85,535

107,215

Imports (CIF)

69,340

97,540

116,774

139,576

170,057

Trade Volume

116,593

160,707

190,251

225,111

277,272

Trade Balance

-22,087

-34,373

-43,298

-54,041

-62,842

Exports/ Imports(%)

68.1

64.8

62.9

61.3

63.0

Exports/ GNP (%)

15.5

16.2

15.3

16.2

16.3

Imports/ GNP(%)

22.7

25.0

24.3

26.5

25.8

b.

(US$m)

2003

2004

2005

2006

2007

Total Exports

by country

47,250

63,167

73,474

85,531

107,215

List Total

27,185

36,463

41,024

46,752

57,453

Share

57.5

57.7

55.8

54.7

53.6

Germany

7,485

8,745

9,455

9,686

11,993

United Kingdom

3,670

5,544

5,917

6,814

8,627

Italy

3,193

4,648

5,617

6,752

7,480

France

2,826

3,668

3,806

4,604

5,974

Russia

1,368

1,859

2,377

3,238

4,727

Spain

1,789

2,620

3,011

3,720

4,580

United States

3,752

4,860

4,911

5,061

4,168

Romania

873

1,235

1,785

2,350

3,644

United Arap Emirates

703

1,144

1,675

1,986

3,241

Holland

1,526

2,138

2,470

2,539

3,019

US$m

2003

2004

2005

2006

2007

Total Imports by country

69,340

97,540

116,774

139,576

170,057

List Total

43,623

61,857

74,165

89,635

110,855

Share

62.9%

63.4%

63.5%

64.2%

65.2%

Russia

5,451

9,033

12,906

17,806

23,508

Germany

9,453

12,516

13,634

14,768

17,540

China

2,610

4,476

6,885

9,669

13,234

Italy

5,472

6,866

7,566

8,663

9,968

United States

3,496

4,745

5,376

6,261

8,164

France

4,164

6,201

5,888

7,240

7,850

Iran

1,861

1,962

3,470

5,627

6,614

United Kingdom

3,500

4,317

4,696

5,138

5,477

Switzerland

2,968

3,405

4,054

4,015

5,269

Ukraine

1,332

2,509

2,651

3,059

4,519

South Korea

1,312

2,573

3,485

3,556

4,370

Spain

2,004

3,254

3,555

3,833

4,343

c.

Exports by selected chapters (US$m)

2007

Share

Imports by selected chapters (US$m)

2007

Share

87-Vehicles  other than railway or tramway rolling-stock

15,902

14.8% 27-Mineral fuels,mineral oils and products of their distillation

33,876

19.9%
84-Machineries, mechanical appliances, boilers and; parts thereof

8,747

8.1% 84-Machineries, mechanical appliances, boilers and; parts thereof

22,581

13.2%
72-Iron and steel

8,352

7.7% 72-Iron and steel

16,171

9.5%
61-Articles of apparel and clothing accessories knitted

8,021

7.4% 85-Electrical machinery and equipment

13,286

7.8%
85-Electrical machinery and equipment

7,421

6.9% 87-Vehicles  other than railway or tramway rolling-stock

12,397

7.2%
62-Articles of apparel and clothing accessories,not knitted

5,444

5.0% 39-Plastics and articles thereof

8,684

5.1%
27- Mineral fuels,mineral oils and products of their distillation

5,147

4.8% 71-Pearl and other precious stone and products,coins

5,904

3.4%
Grand Total

107,215

100% Grand Total

170,057

100%

d.

Exports US$m

2003

2004

2005

2006

2007

Agriculture & Forestry

2,121

2,542

3,329

3,481

3,725

Fishing

81

103

140

131

158

Mining

469

649

810

1,146

1,661

Manufacturing

44,378

59,579

68,813

80,246

101,025

Others

204

294

384

531

646

Total

47,253

63,167

73,476

85,535

107,215

Imports US$m

2003

2004

2005

2006

2007

Agriculture & Forestry

2,535

2,757

2,801

2,902

4,641

Fishing

2

8

24

33

31

Mining

9,021

10,981

16,321

22,034

25,314

Manufacturing

55,690

80,448

94,208

110,379

133,933

Others

2,092

3,346

3,419

4,229

6,139

Total

69,340

97,540

116,774

139,576

170,057

IV. Others

Industry

Main industries of country

textiles, food processing, autos, electronics, mining (coal, chromite, copper, boron), steel, petroleum, construction, lumber, paper

Agrıculture

tobacco, cotton, grain, olives, sugar beets, pulse, citrus; livestock

Turkey has a dynamic economy that is a complex mix of modern industry and commerce along with traditional crafts and agriculture. Some of its main natural resources are antimony, coal, chromium, bauxite, mercury, copper, iron ore, borate and sulphur. It has a strong industrial base in textiles and food processing. Cotton production is a major input of the textile sector. Telecommunications, automotive and tourism are the fastest growing sectors in Turkey. A large arable area and a variety of climates enable the production of a diversity of crops. Turkey is also a major agricultural producer and among the world’s eight food self-sufficient countries. It also ranks as the fifth and ninth, respectively, in terms of the world’s vegetable and fruit production. It is the largest cotton, tea and tobacco producer in Europe.