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Tag Archives: Economy

Erdogan Set to Make Good on New City Promise

The Turkish Prime Minister, Recep Tayyip Erdogan promised as part of his Parliamentary campaign last year, to create a new city. The city is being planned for the northern coast of Istanbul, and is expected to help boost Istanbul's economy. Apparently the government has already begun work on the plan...

Posted on 09 June 2012

Turkey full of opportunities says UK Trade Minister

Istanbul, 27 April 2012 - Lord Green, the UK’s Trade and Investment Minister, extols the business opportunities in Turkey. Talking about opportunities in Turkey on a recent trade mission, Green said “Turkey is a country full of opportunities for European companies, not only with its large domestic market but also...

Posted on 03 May 2012

Turkey announces new investment incentives

Ankara, 7th April 2012 - Turkey’s Prime Minister, Recep Tayyip Erdogan, has announced a new incentive scheme to help foreign and local investments aimed at encouraging local manufacturing and reducing the demand for imported goods. The emphasis is to support the underdeveloped regions of Turkey especially in poorer eastern and...

Posted on 13 April 2012

Turkey just keeps growing

Istanbul, 2 April 2012 - According to data recently released from the Turkish Statistical Institute, Turkey’s growth reached 8.5 percent in 2011 bringing the average over the last 2 years to nearly 9 percent and a 10 year average to 5.4 percent. Turkey’s per capita GDP also increased in 2011...

Posted on 13 April 2012

Turkey’s unemployment down to under 10 percent

Istanbul, 16 March 2012 – According to data recently released by the Turkish Statistical Institute the unemployment rate dropped to 9.8 percent in December 2011. According to the data the number of employed people was 23.6 million in December 2011. Source: Invest in Turkey

Posted on 31 March 2012

Turkey’s FDI reaches 892 million USD in January 2012

Istanbul, 15 March 2012 – According to data recently released by Turkey’s Ministry of Economy, Turkey’s Foreign Direct Investment (FDI) was up over 70 percent in the first month of 2012 (January) compared with the same period in 2011. The January figure reached 892 million USD which included 150 million...

Posted on 31 March 2012

Turkey – a future world leader ?

Istanbul, 6 March 2012 - According to Jean Guy Carrier, Secretary General of International Chamber of Commerce, Turkey is likely to become one of the world’s leading countries because of its rapidly growing economy. Speaking at a recent G20 Advisory Group meeting hosted by the Union of Chambers and Commodity...

Posted on 07 March 2012

Turkey’s Foreign Trade Deficit Falls by 4.7% in January

Turkey's foreign trade deficit fell by 4.7% year on year in January to $7 billion, according to the Turkish statistics bureau. The figures were welcome news especially as exports increased by 8.6% year on year to reach $10.4 billion, whereas imports rose by a mere 2.8% to reach $17.4 billion,...

Posted on 01 March 2012

Turkey’s unemployment down for second month running

Istanbul, 16 February 2012 - The Turkish Statistical Institute has announced that for the second month in a row the Turkish unemployment rate has fallen. The rate for November 2011 fell to 9.1 percent which also compares with 11 percent for November 2010. The total number of unemployed is just...

Posted on 17 February 2012

Turkey’s foreign direct investment up 74 percent

Istanbul, 15 February 2012 - Turkey’s foreign direct investment for 2011 reached 15.7 billion USD including property purchases and loans from foreign owned investors to their local Turkish subsidiaries. This amount represented a 74 percent increase on 2010. When outgoing foreign direct investments are taken into account the net inflow...

Posted on 16 February 2012