Turkey

Turkey’s business environment is increasingly subject to state interference, leading to lack of judicial transparency. Public procurement corruption also deters foreign investors. A significant gender employment gap points to low female workforce ...

Income and expenditure growth accelerated in 2017. Foreign investment, social programmes, and the availability of consumer credit supported growth. Income and expenditure growth is forecast to persist in the long term, backed by economic growth and ...

Turkish households are benefiting from strong economic growth and increases in wages. This process is further accelerating household demographic shifts in the country, allowing more people to live by themselves and driving urbanisation. The number of...

The industry’s performance saw an upward trend in 2018, with double-digit growth in current value terms; however, this does not reflect the actual situation. Sharply rising inflation and a depreciating lira hindered household purchasing power in real...

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In 2018, the recreation, entertainment and arts industry’s performance continued to grow in current value terms; however, in real terms revenue showed a declining trend. Political uncertainty, US tariffs on Turkish steel and aluminium, and plummeting...

The personal services industry witnessed sluggish growth during 2018, as the Turkish economy witnessed a currency and debt crisis, severely affecting private consumption. Political uncertainties, financial market pressures, a sharp lira depreciation ...

In 2018, the turnover of the Turkish government and membership organisations grew strongly, driven by overall inflation in the country. Although turnover grew in nominal terms, in real terms the industry remained stagnant. Turkey’s economic ...

Despite the collapse of the Turkish lira, triggered by capital flight as a result of fears regarding government interference in the central bank’s independence, a large current account deficit and diplomatic tensions with the US, the healthcare ...

In 2018, the industry saw steady growth as a result of further implementation of the Ministry of National Education (MoNE) 2015-2019 Strategic Plan. It mainly focuses on teacher training, increasing completion rates in education, the promotion of ...

The industry contracted significantly in real terms during 2018, as the Turkish economy witnessed a currency and debt crisis, severely affecting the financial performance of local businesses. This occurred as the country’s debt-fuelled economic ...

Turkey’s currency – the lira – fell by 30% against the US dollar in 2018 on the back of tensions with the US and mounting concerns about the country’s creditworthiness. The collapse of the Turkish lira pushed up construction costs and freight rates, ...

The industry expanded more slowly than the rate of inflation in 2018, as Turkey entered an economic downturn. During the year, the Turkish lira’s value depreciated sharply, causing a rapid rise in inflation and greatly impacting the local economy and...

The Turkish information and communications industry continued growing at a double-digit pace in 2018. Nevertheless, unlike in previous years, growth in 2018 was driven by soaring inflation in the country. High inflation weakened the ...

In 2018, the transport and storage industry’s revenues grew at less than the rate of inflation, reflecting economic problems associated with a rapidly depreciating currency and surging inflation. The country’s previous debt-driven economic growth ...

The Turkish automotive industry saw double-digit growth in production value in 2018, although the majority of the gains was due to exchange rate fluctuations. In volume terms, car production dropped by 9%, to 1.5 million units, while domestic sales ...

The hi-tech goods industry in Turkey saw a second year of exceptionally strong turnover growth in 2018. The industry, similarly to all Turkish export-oriented industries, benefited strongly from the depreciation of the Turkish lira, which has led to ...

Turkey’s machinery exports soared in 2018, thanks to the collapse of the Turkish lira and strong demand for Turkish machines on the back of the resumption of new projects and investment worldwide. During the first eight months of 2018, Turkey’s ...

The value of household goods production in Turkey continued to grow in 2018. Growth was, however, only slightly above inflation. The Turkish household goods market grew marginally in real terms, driven by rising disposable incomes, while most of the ...

The revenue of the Turkish pharmaceuticals and medical equipment industry increased in 2018, driven partly by accelerating export growth. The industry maintains trade relationships with 161 countries, and pharmaceutical producers saw a significant ...