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Tag Archives: Economy

Turkey’s exports expected to increase 11.4 percent in 2012

Istanbul, 26 January 2012 - According to Mr Mehmet Buyukeksi, Chairman of the Turkish Exporters Assembly, Turkey’s exports should reach 150 billion USD in 2012. In the first 25 days of 2012 Turkey’s exports increased by over 13 percent compared to the same period of 2011. “2012 will be a...

Posted on 27 January 2012

Current Account Deficit Begins Descent

Last year saw Turkish exports grow at an incredible clip, leading analysts and commentators (including ourselves) to predict that it would eventually start to bring down the current account deficit, which is an important economic indicator and one of the few blemishes left to negatively color the Turkish economy. Well,...

Posted on 13 January 2012

Turkey Starts 2012 One of Strongest Economies in World

We all heard a lot about the Turkish economy in 2011 I know I wrote a lot about it and the reports are still coming in now. As always, it takes time to prepare final figures for the entire year, but if the reports we have seen so far are...

Posted on 11 January 2012

2011: A Great Year for Turkey and Turkish Property

Twenty Eleven was a great year for Turkey and a great year for Turkish property. The Turkish economy was among the fastest growing in the world (it was the fastest in 1H, but we have no data for 2H) according to official data. According to the Turkish association of real...

Posted on 06 January 2012

Turkish exports reach a new high

3 January 2012, Ankara - Despite the global downturn Turkey’s 2011 exports reached an all time high exceeding 2010 by 18.2 percent and amounting to nearly 135 billion USD. According to data from TIM (the Turkish Exporters Assembly) the manufacture of motor vehicles showed the largest sector for exports amounting...

Posted on 03 January 2012

“Istanbul is one of the most exciting and interesting cities of Europe, if not the world”

3 January 2012, Ankara  - The man who coined the phrase BRIC economies the world renowned economist and Chairman of Goldman Sachs Asset Management Mr Jim O’Neill predicts the next 10 years will see another set of emerging powers including Turkey taking over. In a recent interview O’Neill said “If...

Posted on 03 January 2012

Turkey Continues to Impress for all the Right Reasons

It is no surprise that foreign direct investment is flooding into Turkey, because unlike many countries at the moment, there is no reason to be scared of investing. Turkey is in Europe, but not in the Eurozone and has been growing strongly throughout the European financial crisis. Even now as...

Posted on 09 December 2011

Fitch Affirms Turkey at BB+

Fitch Ratings has affirmed Turkey's rating at BB+ one step away from investment grade, despite revising the country's long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Positive. The agency also affirmed Turkey's Short-term foreign currency IDR at 'B' and Country Ceiling at 'BBB-'. "The revision of...

Posted on 23 November 2011

Turkey continues to grow economically during Eurozone crises

4 November 2011, Istanbul - Speaking to businessmen and women at the B20 business event being held during the G20 meeting in Cannes, France, Turkey’s Prime Minister, Recep Tayyip Erdogan, said due to successful planning Turkey continued to grow during the economic crises affecting the Eurozone. The Turkish Prime Minister...

Posted on 04 November 2011

Turkey Unaffected by Euro Debt Contagion says Erdogan

Speaking at the B20 business event at the G20 in Cannes, the ever-charismatic Turkish Prime Minister Erdogan told the audience of CEO's and businessmen that Turkey's history of reforms make it immune from the sovereign debt crisis engulfing Europe. "Structural reforms created an environment ensuring that, even in times of...

Posted on 04 November 2011