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Category Archives: Economy

Turkey’s Medium Term Economic Program

In September 2017, Turkey’s Medium Term Economic Program for 2018 to 2020 was unveiled. Prepared every year by law, then approved by the cabinet, and released by the Ministry of Development, it is finally published in the Official Gazette of Turkey. The Medium Term Economic Program is a study of...

Posted on 02 January 2018

Turkish Economy Shows Biggest Growth in the G20

The latest figures released by Turk Stat, the Turkish Statistical Institute revealed that Turkey is the fastest growing G20 economy after it clocked up record figures for the third quarter of 2017. Beating China and India, from July to September, growth came in at 11.1%, the highest double-digit figure recorded...

Posted on 17 December 2017

Turkey Set to Exceed 2017 Export Targets Amid Growth Revision

A statement by the president of the Turkish Exporters Assembly revealed that the Turkish government is optimistic it will surpass 2017 export targets. By November of 2017, exports were showing a 14% increase year on year, netting a total 142.4 billion dollars. The year-end goal is 156.5 billion. Crediting the...

Posted on 03 December 2017

Turkey’s Foreign Trade Statistics for First Half of 2017

A recent report published by the national news agency of Turkey, Anadolu has revealed foreign trade statistics for the first half of 2017. Using information, and data provided by the Turkish Statistical Institution (Turk Stat), the report also compared year on year figures of June 2016 and the same month...

Posted on 10 August 2017

Turkey Set to Confirm Potential Energy Project with Israel

Turkey’s energy minister Berat Albayrak has confirmed that he will visit Israel before the end of 2017 to finalise an ambitious gas line project from Israel to Turkey. The announcement was made at the 22nd World Petroleum Congress in Istanbul that ran from the 9th to the 13th of July....

Posted on 13 July 2017

Turkish citizenship for foreign investors as IAC meeting hailed a success

Foreigners who have invested in Turkey and meet certain conditions could soon be eligible for Turkish citizenship. Under a new scheme announced by Turkey’s Deputy Prime Minister Numan Kurtulmus in November, non-nationals who have made investments of a certain value in property and other fixed assets could become a Turkish...

Posted on 15 November 2016

UK and USA reiterate valued trade partnerships with Turkey

Turkey’s status as a global investment destination received a boost this month, after the country was endorsed by both the UK and USA. The first seal of approval came when British Foreign Secretary Boris Johnson used his first official visit to the country to underline the strong relationship between the...

Posted on 28 September 2016

Gulf States continue to drive Turkish market, while UK confirms long-term trade commitment

July’s failed coup appears to have done little to dampen long-term foreign interest in Turkey, after representatives from the Turkish Chambers of Commerce in the UK (TBCCI) expressed their on-going confidence in Turkey, while interest from Gulf nations continues to drive the Turkish property market. Chairman of TBCCI, Emma Edhem,...

Posted on 02 September 2016

Resilient Turkish economy is 3rd strongest in G20 and bodes well for investors

Turkey’s economy is outperforming the expectations of international financial institutions and remains one of the fastest growing members of the G20 – news that will be welcomed by foreign investors there in 2016. Data from the Turkish Statistical Institute (TurkStat) released at the end of March showed that of all...

Posted on 18 April 2016

Istanbul boosted by ranking in top 15 European cities for investment prospects in 2016

Istanbul has been ranked 14th in a recent report by international tax consultancy PwC and the Urban Land Institute that ranks 20 European cities by investment prospects. This is an impressive six places up from last year's listings and puts it ahead of London (15th), Edinburgh (18th), Frankfurt (20th), Brussels...

Posted on 12 February 2016