THE STRUCTURE OF TURKISH ECONOMY FALL 2011 CLASS 1

THE STRUCTURE OF TURKİSH ECONOMYFALL 2011CLASS 1

What Constitutes the Structure of an Economy The sum of all the different economic

activities within the boundaries of an area (city, region or country) constitutes the structure of an economy.

http://maps.nationmaster.com/country/tu/1

Turkish Economy in Brief Turkey’s economy is a mix of modern

industry and commerce, along with the traditional agriculture sector.

Turkey has a robust and ever-developing private sector, and the state is a major contributor to industry, banking, transport and communication.

http://www.economywatch.com/world_economy/turkey/

General Economic Indicators

2004 2005 2006 2007 2008 2009

Economic Growth (GDP, annual var. in %) 9.4 8.4 6.9 4.7 0.7 -4.7

Inflation (CPI, annual variation in %) 9.4 7.7 9.7 8.4 1.2 6.5

Exchange Rate (TRY per USD, eop) 1348.6 1.3 1.4 1.2 -5.9 1.5

Current Account (% of GDP) -3.7 -4.6 -6.1 -5.9 -5.8 -2.4

Anual Variation in Gross Domestic Product (%)

Inflation

Exchange Rate (Lira vs. US Dollar)

Current Account Balance (% of GDP)

Real Sector

2004 2005 2006 2007 2008 2009

Private Consumption (annual var. in %) 11 7.9 4.6 4.6 0.5 -2.2

Fixed Investment (annual variation in %) 28.4 17.4 13.3 5.4 -8.2 -19.1

Industrial Production (annual variation in %) 9.8 5.4 7.3 7 -0.6 -9.9

Unemployment (eop, % of active population) 10.3 11.2 10.5 10.6 14 13.5

Annual Variation in Industrial Production (%)

Annual Variation in Consumption (%)

Unemployment Rate

External Trade

2004 2005 2006 2007 2008 2009

Trade Balance (USD bn) -22.7 -33.1 -41.1 -46.8 -53 -24.9

Exports (annual variation in %) 30.8 14.3 19.5 23.2 22.1 -22.1

Imports (annual variation in %) 38.5 22.1 20.8 20.4 19.5 -30.6

Int. Reserves (months of imports) 4.7 5.4 5.4 5.4 4.4 6.3

External Debt (% of GDP) 41.2 35.4 39.4 38.7 38 45.2

Trade Balance (Difference between exports and imports)

International Reserves (Months of Imports)

External Debt (% of GDP)

Composition of GDP

0,00

5,00

10,00

15,00

20,00

25,00

30,00

35,00

40,00

45,00

1968

1970

1972

1974

1976

1978

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

Tarim (%)

Sanayi (%)

Ticaret ve Ulaştırma (%)

Diğer Hizmetler (%)

Composition of Manufacturing Employment

2010 Growth in GDP (%)

Source: IMF World Economic Outlook April 2011, Turkish Statistical Institute (TurkStat)

Forecast in GDP Growth (2011-2017)

Source: OECD Economic Outlook No: 86

  1980 2001 2008GDP (USD billion) 70 509 700Per capita GDP (USD billion) 1.500 2.906 9.000Number of Enterprises 90.000 723.503 1.170.248Export (USD billion) 3 31 132Export per worker ((USD billion) 65 1456 6.229Industry share in export 10% 92% 92%Number of Exporters 1.000 25.000 47.000Tourism Revenue (USD billion) 0.3 8 21Ranking in the world (in terms of GDP) 25th 21st 17th

Table: Indicators of Turkish EconomySource: EIU, TUIK, TIM

FDI in Turkey:FDI in Turkey:Upward Trend in FDI InflowsUpward Trend in FDI Inflows

$ billion ‘000