Economy and Investment
Turkish economy ranks 16th in the list of the largest economies in the world. According to the figures of the year 2013, the gross domestic product (GDP) of the country was around $ 841 billion (at current prices), while the average per capita income of around $ 10,782.
The Turkish economy had achieved high growth rates exceeded global rates over the past years by 4.8% in 2009 and by 8.9% in 2010, and then had dropped to the level of growth of 3% in 2012.
The share of the economic sector within the domestic production quotas during the recent period became 8.5% in the agricultural sector, and 19.5% in the industrial sector and up to 72% in the services sector.
According to the figures of 2013, Turkish exports amounts reached to around $ 152 billion, while imports amounts were around $ 251 billion for the same year.
Despite the steady increase in the volume of exports in recent years, Turkey still suffers from a deficit in foreign trade balance, energy is considered to be one of the main elements that contribute to the creation of this deficit as Turkey depends on the outside to fill about 90 to 97% of its energy needs.
Capital markets have evolved through Istanbul Stock Exchange, were the entry of foreigners into the Turkish financial markets and the rapid growth of investment funds, boosted the development of the Istanbul Stock Exchange.
Istanbul Stock Exchange Includes four active markets: stocks and bonds market, Instruments and promissory notes market, bills market and developing business market.
in terms of direct international investments in Turkey, Turkey is considered to be one of the most attractive countries for investments, because of the facilities, incentives and investment opportunities, direct investments in Turkey, according to public figures in 2013, had reached around $ 13 billion, while the number of companies and branches of international head companies that operate in Turkey has amounted to about 26,650 company. Noting that Turkey has 20 areas for free trade.
With regard to industrial and commercial side, industry and trade centers are located around the city of Istanbul and the rest of the major cities, especially in the west and central Anatolia. The most important industries in Turkey are textiles, food and beverage, power tools, automotive, chemicals, and leather.
The most important mineral resources located on Turkish territory, are: coal, charcoal, iron, lead, copper and silver. Turkey is also one of the largest producers of chrome in the world.
The most important crop in the country are cotton, tea, tobacco, olives, grapes, citrus, fruit, vegetables, grain and barley. Also, Turkey is one of the largest producers of hazelnuts in the world. Turkey is in the seventh place in the world and first in Europe in terms of the large number of warm groundwater. Tourism is one of the main pillars of the Turkish economy, especially in recent decades.