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

 

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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