ECONOMIC INFORMATION
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Population: 70.7m
Population growth: 1.55%
Population density (people per sq. km): 92
UN Human Development Index ranking: 88/177
Gross national income (current US$): $197.2bn (2003)
Gross national income per capita: $2,790
PPP Gross national income: $473.1bn
PPP Gross national income per capita: $6,690
GDP growth: 4.2% (2003)
GDP breakdown Agriculture: 13.4%, Industry: 21.89%, Services: 64.72%
Inflation (12-month average): 21.29 (2003)
Gross capital formation as % of GDP: 23.01%
Final consumption expenditure as % of GDP (growth): 80.3% (5.6%)
Exports of goods & services as % of GDP: 27.7%
Top 3 export markets: Germany, US, Italy
Local industries: Textiles, food processing, autos, mining (coal, chromite, copper, boron), steel, petroleum, construction, lumber, paper
WEF Growth Competitiveness ranking *: 66/104
WEF Business Competitiveness ranking **: 52/103
WEF Quality of the Business Environment ranking: 55/103
Transparency International Corruption Perceptions ranking: 77/145
Languages : Turkish (official)
BUSINESS ENVIRONMENT
FDI INFORMATION
Region: South-east Europe
No. of projects (Jan-Sep 2004): 123
Market-share of projects in the region: 14.1%
Value of projects relative to GDP : 5.2%
Top 3 destination sectors: Hotels tourism & leisure, textiles, auto components
Top 3 business functions: Manufacturing, retail, construction
Top 3 source countries: US, UK, Germany
Top 3 investors: Steag, Yazaki Group, Hugo Boss
IPA
Name: General Directorate of Foreign Investment
Web address: www.treasury.gov.tr
* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently
** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth
*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations