Turkish exports of motor vehicles were 2 percent higher in the first four months of this year than the same period a year ago, preserving cautious optimism in the car industry amid weak demand from buyers, data from the Automobile Manufacturers’ Association (OSD) has revealed. Between January and April, Turkey sold motor vehicles and related …
Category Archive: Turkish Economy
May
15
Declaration On Economic And Trade Cooperation Of Bosnia, Turkey And Serbia
The BiH (Bosnia and Herzegovina) Minister of Trade and Economic Relations Mirko Sarovic, Deputy Prime Minister and Minister of Foreign and Internal Trade and Telecommunications of the RS Rasim Ljajic and the Minister of Economy of Turkey Zafer Çağlayan signed in Ankara today a Declaration on economic and trade cooperation between BiH, Turkey and Serbia. The …
May
14
Turkey Climbs to the Top in Egg Exports
Turkish egg industry’s export figures cause it to raise the bar with the addition of new markets every year. As it climbs upward in the ranks of worldwide egg production and exports, Turkey shows improved dynamics in this area over past years. Source: The Turkish Perspective, March-April 2013 Issue:15
May
13
Turkey Is a Big Opportunity To End Economic Crisis
Turkish President Abdullah Gul said that his country is a big opportunity for Portugal to end the economic crisis. Speaking at the business forum in Portugal, Gul said Turkey and Portugal have perfect political relations, adding that the trade volume between the two countries, which increased in the past three years and exceeded USD one billion, …
May
10
Turkey Competes ‘Head to Head’ in Textile Sector
Turkish Prime Minister Recep Tayyip Erdogan attended the award ceremony of the 6th Fashion Apparel Conference Istanbul on Wednesday. Speaking at the conference, Erdogan said Turkey was on par with other countries on the international arena in the textile sector. “I don’t accept the notion that we have fallen behind other countries in the textile …
May
07
Japan Tracking Turkey’s Astonishing Growth: Japanese PM
Japanese Prime Minister Shinzo Abe, who is currently in Turkey to hold formal talks, stated that he is impressed with Turkey’s fast growth in the past decade. Abe who held the opening remarks of the 20th Turkish-Japanese Business Council at the Hilton Hotel in Ankara stated that the word “Turkey” has a very beautiful meaning for Japanese …
Apr
30
Bourse Istanbul World’s 2nd Most Profitable
Bourse Istanbul was ranked the world’s second most profitable bourse in March. Bourse Istanbul 100 (BIST 100) index provided an 8.3 percent return in March compared to February. Completing February with 79,333.67 points, BIST 100 reached 85,898.99 in March. According to World Federation of Exchanges (WFE) data, Buenos Aires Exchange ranked the most lucrative bourse …
Apr
26
Turkey Rediscovers Potential In Geothermal Energy
Turkey is rediscovering its geothermal energy resources. Rich in geothermal resources, Turkey increased its drilling activities from 2,000 meters to 28,000 meters; and its utilizable heat capacity to 4,813 MWt by the end of 2012 with an increase by 46 percent in the last seven years. According to Turkey’s Mineral Research and Exploration Agency (MTA) …
Apr
26
Turkey Manages Post-Crisis Era Highly Successfully
World Bank’s Vice-President for the Europe and Central Asia region, Philippe Le Houerou, said that Turkey managed the post-crisis era highly successfully. Houerou’s remarks came at a press conference on the economic outlook of Europe and Central Asia region. “Europe and Central Asia were the two regions most affected by the global economic crisis. This …
Apr
22
The Number of New Companies Increased 5,19% in March
The number of the newly established companies, cooperatives and sole proprietorships increased by 5,19%, 10,34% and 1,63% respectively according to the previous month. The number of the closed companies, cooperatives and sole proprietorships decreased by 5,45%, 3,49% and 15,34% respectively according to the previous month. During the first three month period of 2013, 937 companies …
Apr
19
Nigeria, Turkey Forge Ahead with Bilateral Relationships
For the past few years, the Turkish Ministry of Economy has been organizing trade shows in Nigeria, encouraging Turkish companies to offer to the Nigerian market products in which they have a comparative advantage and superior expertise and at the same time, imparting their know-how on the Nigerian market. Another instance of the Turkish government …
Apr
16
Foreign Trade Expectation Survey of 2nd Quarter, 2013
Export Expectation Index increases by 20.4 points to 122.1 in the 2nd quarter of 2013 from 101.7 in the 1st quarter. Diffusion indices of Survey questions composing the Export Expectation Index show that, in the 2nd quarter of 2013, in comparison to the 1st quarter, expectations regarding exports and export orders of the next 3 …
Apr
16
Turkey’s Economy to Recover in 2013
Turkey’s economy is expected to grow 4 per cent this year, in line with government forecasts, due to stronger domestic demand and probably underpinned by monetary easing by June, a Reuters poll showed. Turkey’s economy was the fastest growing in Europe in 2011, expanding 8.5 per cent, but it grew only 2.2 per cent last …
Apr
15
African States Admire Turkey’s Economic Dynamism
Guinea’s Minister for Foreign Affairs Lounceny Fall stated that there were many areas to develop cooperation between Turkey and Guinea. Fall visited the Izmir Chamber of Commerce (IZTO) in western resort city of Izmir. Fall said, “Turkey has a special place for African countries, we admire its economic dynamism.” Fall also expressed their support for …
Apr
12
Turkey’s Industrial Production Up
Turkey’s industrial production increased 4.4 percent in February 2013 when compared to February 2012. It also rose 1.5 percent compared to January 2013, stated TurkStat, Turkey’s statistical authority. In the sub sectors of the industry, mining and quarrying increased 2.2 percent, manufacturing increased 2 percent and electricity, gas, steam and air conditioning supply index decreased …
Apr
08
Turkey Holds The Second Top Spot in R&D Spending Growth
Turkey ranks among the top 20 countries for research and development (R&D) spending and second only to China in terms of R&D expenditure growth, according to the country’s top scientific body, Scientific and Technological Research Council of Turkey (TUBITAK). Source: The news section of ISPAT website
Apr
04
S&P Upgrades Turkey’s Credit Rating
Credit rating agency Standard&Poor’s (S&P) raised Turkey’s sovereign credit rating to ‘BB+’, up from ‘BB’, one notch below the investment grade. The statement from S&P on the rating upgrade said that the Turkish economy was finding its balance without hindering its strong fiscal performance. “Turkey’s floating exchange rate regime, cautious limits on foreign-exchange lending and …
Apr
01
Turkish Contracting and Engineering Services
Turkish overseas contracting services sector has undertaken approximately over 7 thousand projects in 100 countries worth more than 242 billion Dollars since 1972. Capable of carrying out large size and value-added projects such as airports, subways, industrial plants, natural gas and petroleum refineries, highways and energy stations, Turkish contractors have successfully completed big and milestone projects especially in …
Mar
28
Turkish Eximbank To Launch Political Risk Insurance Program
Turkish Economy Minister Zafer Çağlayan said that Turkey’s state-owned export credit agency Eximbank is about to launch a political risk insurance program for Turkish construction companies. The insurance program is for Turkish contractors doing business abroad, and it aims to minimize losses caused by political risks such as revolution, insurrection, civil unrest, terrorism and war. …
Mar
18
February Budget Deficit Drops
Turkey’s budget deficit in February fell to TL 1.4 billion ($770 million) from TL 2.64 billion ($1.46 billion) in the same month last year as increased consumables taxes and revenue from privatization contracts have pushed up revenues, the Finance Ministry announced on Friday. “In February the budget deficit continued the positive trend downward seen in …
