Turkish Economy - News & Updates

[Zulkarneyn]

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Since there are no sticky threads about Turkey's economy and economical developments, i would like for a moderator to make this thread sticky, where we can post economy related developments.

I would like to start by posting overall indicators of Turkey's economy - export, import, GDP, PPP etc.

First let us look at Turkey's export diversification since this is a vital figure:


As you can see we produce a number of things. But most importantly our biggest markets are motor vehicles, electronic products, textile, and some natural mineral and steel production. Food does account a very small percentage of total export which is because food products are of little value per ton, compared to autovehicles and electronic products.

Next graph shoes the development from 1995 to 2009:


There has been a boom in export since 2001. In 2001 our export total value was $35 billion whereas in 2009 this amount counted almost $110 bio more than tripled. But we can clearly observe that the economic crises has hurt our export, though not significantly.
Moreover in the graph above we observe that auto vehicle and electronic equipment production is increasingly becoming dominant in our export share.

Lastly let us look at our import development, since export-import balance is vital for economy as well:


The import has also increased significantly since 2002 and topped in 2007 to almost $150 bio, but rightly fell to $120 in 2009. As you can see the electronic (the blue) dominates our imports but petrolium accounts for a large part too.


Conclusion:
We need to continue our export growth and export should be above import, which seems is happening as we speak. After the serial production of Altay, Atak and Anka our military industry will experience a significant boost.

Turkey is today the second most populous country in Europe with the youngest population and in a couple of decades or so we can pass aging Germany (even in Germany, the biggest minority are Turkish around 5 mio - and young!). That means if Turkey can continue to be on the right track concerning the economic developments, it will attract much more students, businessmen etc. since the potential is growing by the day. Turkey will in 30-40 years probably be the wealthiest country in Middle East (which it already is) and Europe (if we don't count Russia). Therefore Turkey will play a much bigger role in the near future (our role is already being acknowledged).

My point is, if we as a country can learn to live in peace with each other no matter religious belief or ethnicity we will outmatch EU and be the new center of attention on how to cope with future difficulties. But firstly we need to get rid of our own problems (PKK, neighbours like Syria, Armenia and Iraq). That is why the region plays an uttermost importance for the development. Even though tides are pretty high in Syria, Iraq and Greece the zero-problem foreign policy is definately a step in the right direction . Because we can't be a regional power without developing friendly ties with our neighbours.

[Quasar]

here is the real one





T.C. Ekonomi Bakanl

go to ''İstatistik ve Analizler''

[Killuminati]

Zul, whats the interest rate of $318 billion dollar?

[Zulkarneyn]

I posted the one i could find in English. Quasar the one you posted is in Turkish and it isn't clear which currency it is. Also the one i posted is from 2009, whereas you have figures from 2011.
Also if you look at your graph we can clearly see the export-import imbalance hasn't risen significantly when we look at the percentage, which is the true indicator we should focus on.
For example in 1999 the imbalance was 65% wheras in 2011 the imbalance was 56%. It is still pretty high but our export since then more than quadrobled from (1999) $26 bio to (2011) $135 bio.
@KIL what are you talking about?

[Killuminati]

@KIL what are you talking about?

Our total debt.. What is the interest rate of it that we must pay every month/year before we can reach the debts.

[Quasar]

currency is cleary indicated at the top of the list!

these are the offical figures from the "Republic of Turkey Ministry of Economy"

and again as It can be clearly seen, figures are from years 1990 to january-May 2012

so a friendly advice please correct your figures!!! just trying to hellp you!


you can use the following link and you can find everything you need for this thread

http://www.ekonomi.gov.tr/index.cfm?...TOKEN=57987021

check "İstatistik ve Analizler" for accurate and up to date figures

[Zulkarneyn]

currency is cleary indicated at the top of the list!

these are the offical figures from the "Republic of Turkey Ministry of Economy"

and again as It can be clearly seen, figures are from years 1990 to january-May 2012

so a friendly advice please correct your figures!!! just trying to hellp you!


you can use the following link and you can find everything you need for this thread

T.C. Ekonomi Bakanl

check "İstatistik ve Analizler" for accurate and up to date figures

The figures posted are not incorrect as i have written above. I posted in English so an international audience can follow what is what. Furthermore as i have indicated above, the figure from Massachusetes Institute have sources from up to 2009, that is why 2010 and 2011 is not included.
The relevance in the graphs i have posted are significant since they include in which sectors Turkey is most resourceful. We can follow the growth in export/import and observe which sectors are the driving force.

[Quasar]

Since there are no sticky threads about Turkey's economy and economical developments, i would like for a moderator to make this thread sticky, where we can post economy related developments.

I would like to start by posting overall indicators of Turkey's economy - export, import, GDP, PPP etc.

First let us look at Turkey's export diversification since this is a vital figure:


As you can see we produce a number of things. But most importantly our biggest markets are motor vehicles, electronic products, textile, and some natural mineral and steel production. Food does account a very small percentage of total export which is because food products are of little value per ton, compared to autovehicles and electronic products.

Next graph shoes the development from 1995 to 2009:


There has been a boom in export since 2001. In 2001 our export total value was $35 billion whereas in 2009 this amount counted almost $110 bio more than tripled. But we can clearly observe that the economic crises has hurt our export, though not significantly.
Moreover in the graph above we observe that auto vehicle and electronic equipment production is increasingly becoming dominant in our export share.

Lastly let us look at our import development, since export-import balance is vital for economy as well:


The import has also increased significantly since 2002 and topped in 2007 to almost $150 bio, but rightly fell to $120 in 2009. As you can see the electronic (the blue) dominates our imports but petrolium accounts for a large part too.


Conclusion:
We need to continue our export growth and export should be above import, which seems is happening as we speak. After the serial production of Altay, Atak and Anka our military industry will experience a significant boost.

Turkey is today the second most populous country in Europe with the youngest population and in a couple of decades or so we can pass aging Germany (even in Germany, the biggest minority are Turkish around 5 mio - and young!). That means if Turkey can continue to be on the right track concerning the economic developments, it will attract much more students, businessmen etc. since the potential is growing by the day. Turkey will in 30-40 years probably be the wealthiest country in Middle East (which it already is) and Europe (if we don't count Russia). Therefore Turkey will play a much bigger role in the near future (our role is already being acknowledged).

My point is, if we as a country can learn to live in peace with each other no matter religious belief or ethnicity we will outmatch EU and be the new center of attention on how to cope with future difficulties. But firstly we need to get rid of our own problems (PKK, neighbours like Syria, Armenia and Iraq). That is why the region plays an uttermost importance for the development. Even though tides are pretty high in Syria, Iraq and Greece the zero-problem foreign policy is definately a step in the right direction . Because we can't be a regional power without developing friendly ties with our neighbours.

your import and export figures are wrong

for import figures; for year 2007 it is not 150 but 170---in 2009 it is not 120 but 140

and for export figures; for year 2009 it is not 110 but 102

[explorer9]

What is the GDP nominal for 2012 (calculated or foretasted) somewhere i saw that Indonesia has crossed the Turkish figures of GDP nominal in the year 2012, by this calculation when will Turkey be included in trillion dollar club?

[Zulkarneyn]

your import and export figures are wrong

for import figures; for year 2007 it is not 150 but 170---in 2009 it is not 120 but 140

and for export figures; for year 2009 it is not 110 but 102

Well it is not my findings but the figures are from that specific site. Also i said almost 110 billion US dollars since i tried to read the graph so i know it is not the exact amount. As you may know there are always difference opinions about the real figures depending on the data. The site i took the graph from The Observatory of Economic Complexity :: says their source of data is from the UN. It is probably because it would be darn difficult for them to visit every single country's ministry of economy. So they extract their data from a single source.

Yet i have to admit that the Turkish ministry of economy's indications are probably more accurate. But the sad part is they do not have these forms of graphs that show the diversity in export and import and its development plus it is in Turkish, which is another con.

What is the GDP nominal for 2012 (calculated or foretasted) somewhere i saw that Indonesia has crossed the Turkish figures of GDP nominal in the year 2012, by this calculation when will Turkey be included in trillion dollar club?

According to Turkeys ministry of Economy GDP nominal for 2012 will be about 822 billion US dollars. And they expect Turkey to reach the trillion in 2014. Though this will happen with a GDP growth rate of 4-5 percent per year.

You can read their expectations on this site: Republic of Turkey Ministry of Economy
click "Economic Outlook" and you can view it in powerpoint form.

[Quasar]

Well it is not my findings but the figures are from that specific site. Also i said almost 110 billion US dollars since i tried to read the graph so i know it is not the exact amount. As you may know there are always difference opinions about the real figures depending on the data. The site i took the graph from The Observatory of Economic Complexity :: says their source of data is from the UN. It is probably because it would be darn difficult for them to visit every single country's ministry of economy. So they extract their data from a single source.

Yet i have to admit that the Turkish ministry of economy's indications are probably more accurate. But the sad part is they do not have these forms of graphs that show the diversity in export and import and its development plus it is in Turkish, which is another con.

instead of ignorance

it is damn easy for you to check your countries Ministry of Economy's web page!

or it is also damn easy to use the real figures when someone provides you the figures and the link to get them!

[Zulkarneyn]

instead of ignorance

it is damn easy for you the check your countries Ministry of Economy's web page!

or it is also damn easy to use the real figures when someone provides you the figures and the link to get them!

Sorry i don't answer to insults any longer, read my answers again, maybe you will understand it this time.

[Killuminati]

Dont fool people with numbers. Behind this pink table is a huge mess that Turkey can not fix.

[Ottoman-Turk]

i swear we was billion of one of the GDP figures , so in the world which one is accurate or real one , nominal or PPP one

wtf india economy is 1.8 trillion on nominal and 4.4 trillion on PPP ?

[Saithan]

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the figurs found at the ministry of economy should be reported somwhere else like IMF or perhaps WTO.

i looked at IMF.
Report for Selected Countries and Subjects