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Category Archives: Economy

The Turkish Economy Continues to Soar

More good news for the Turkish economy came this week when the Turkish Exporters Assembly (TIM) revealed a 20% year on year growth in exports in May. This follows the record exports of 11.8 billion in April, when growth was also strong (25% month on month, no year on year...

Posted on 04 June 2011

It’s Official, Turkey to Top European Economy Again in 2011

The Turkish economy grew 8.9% in 2010, this made it the fastest growing economy in Europe by a good margin. Everyone expected growth to slow in 2011, it had to; the growth rate in 2010 was unsustainable, and to sustain it would ultimately have done more harm than good in...

Posted on 26 May 2011

Developments Securing Istanbul’s Place as one of World’s Great Cities

Istanbul continues to grow into one of the world's most impressive cities. This week it was revealed that Arista, an affiliate of Turkey’s Ar Group, is set to invest nearly $1 billion into new office and residence projects in the city. The news came in the same breath as we...

Posted on 13 May 2011

Turkish Car Sales Hit New Peak in January

In 2010 Turkey's automobile industry became a dominant force within Europe, and early signs for 2011 show that this looks set to continue. Car and light commercial vehicle sales grew 64% year on year in the first 4 months of this year according to new data from the Automotive Distributors...

Posted on 06 May 2011

Turkish Exports Up 25% in April — 22% in Q1

Of all the news on the Turkish economy, the record exports in April is arguably the most significant. If you read like I do on the Turkish economy you will see that the news is overwhelmingly one-sided on the positive side, and that the negative news is almost all centred...

Posted on 05 May 2011

Turkey Gearing up to Produce Domestic Car Brand

The Prime Minister of Turkey recently announced his ambitions to build a 100% domestic car brand, but when examined more carefully this idea is quite challenging, as all the parts need to be produced domestically. Turkey last tried to produce its own automobile brand in 1961, but only made four...

Posted on 22 April 2011

Ground Breaks on 500 Million Euro Natural Gas Plant in Turkey

The ground-breaking ceremony for a €500 million natural gas burning power plant has just been held. The 775 MW plant, which is being constructed by the German power supplier RWE and Turkeys Turcas, is being built in the Aegean province of Denizli and is expected to be operational by the...

Posted on 15 April 2011

Turkish Exports Increase in March

Turkish exports grew 22.8% year on year in March according to the latest figures from the Turkish Exporters Assembly (TIM), taking the monthly total to $11.7 billion. According to the data, the majority of the exports ($1.4 billion) came from the car industry. TIM chairman Mehmet Buyukeksi said that these...

Posted on 07 April 2011

With Turkish GDP Up 8.9% in 2010, Can Erdogan Keep his Grip on Inflation?

Turkstat has just revealed its data on GDP growth for 2010 and the final figure was 8.9%, considerably higher than the 6.4% reported by Prime Minister Erdogan at the start of the year. According to the data, the Turkish economy grew 9.2% in the fourth quarter, following growth of 11.3%,...

Posted on 01 April 2011

Turkish Airport Traffic Continuing 2010’s Strong Growth into 2011

Anna.Aero has just published a table of growth in traffic to Turkey's airports, and it makes for very interesting reading. According to the data Turkish airport traffic grew 10.8% year on year in January, and 17.5% (why does that number take me back to happier times) year on year in...

Posted on 18 March 2011