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MINISTRY of ECONOMY
TURKISH ECONOMY
May 2012
Annual Economic Growth Rates (2002-2011)
2
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-6.0
-4.0
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
6.25.3
9.48.4
6.9
4.7
0.7
-4.8
9,2 8.5
%
Source: TURKSTAT
Real GDP Growth (%)
May 2012 Ministry of Economy
GDP (Billion US $)
3
Source: TURKSTAT
2002 2003 2004 2005 2006 2007 2008 2009 2010 20110.0
100.0
200.0
300.0
400.0
500.0
600.0
700.0
800.0
900.0
230.5304.9
390.4481.5
526.4
648.8742.1
616.7
734.9 772.3
GDP (Billion Dollar)
May 2012 Ministry of Economy
GDP Per Capita (US $)
4
Source: TURKSTAT2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
-
2,000
4,000
6,000
8,000
10,000
12,000
3,492 4,559
5,764 7,022
7,586
9,240 10,438
8,559
10,067 10,444
GDP Per Capita ($)
May 2012 Ministry of Economy
Real GDP Growth (2011)
Source: TURKSTAT, EuroStat , Related Natianol Institutions*Estimation
5
UK
Japan
EU-27
Euro Area
USA
Brazil
Germany
Russia
India*
Turkey
China
0 1 2 3 4 5 6 7 8 9 10
0.70.7
1.51.5
1.72.7
34.2
7.38.5
9.2
May 2012 Ministry of Economy
CDS Premiums
6May 2012 Ministry of Economy
Portugal
Ukraine
İreland
Hungary
Italy
Spain
Bulgaria
Russia
Korea
France
China
Turkey
0 200 400 600 800 1000 1200
972
762
562
499
440
479
286
185
120
190
112
225
Budget Deficit/GDP (%)
7
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011.0000
2.0000
4.0000
6.0000
8.0000
10.0000
12.0000
14.0000
7.87
11.8911.47
8.84
5.21
1.06 0.611.63 1.83
5.54
3.63
1,35
Budget Deficit/GDP (%)
%
Source: Ministry of Finance
May 2012 Ministry of Economy
Budget Deficit/GDP - 2011 (%)
8May 2012 Ministry of Economy
Ireland
Greece
Spain
UK
France
Poland
Netherlands
EU
Portugal
Italy
Austria
Turkey
Germany
0 2 4 6 8 10 12 14
13.19.1
8.58.3
5.25.1
4.74.5
4.23.9
2.61.3
1
Turkey’s Budget Deficit to GDP ratio is lower than that of 23 EU members
EU Defined Government Debt / GDP (%)
9
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
10
20
30
40
50
60
70
80
90
77.9474.00
67.7059.61
52.7146.52
39.92 40.0246.12
42.40 39.43
Government Debt/ GDP (%)
%
Source: TURKSTAT
May 2012 Ministry of Economy
EU Defined Government Debt / GDP (%)
10
Source: TURKSTAT, Eurostat
Greece
Italy
Ireland
Portugal
EU
Germany
France
Hungary
United Kingdom
Austria
Netherland
Spain
Poland
*Turkey
0 20 40 60 80 100 120 140 160
145118
9593
8583828180
7263
6155
39
May 2012 Ministry of Economy
Turkey’s Government Debt to GDP ratio is lower than
that of 21 EU members
Unemployment (%)
11
2002 2003 2004 2005 2006 2007 2008 2009 2010 20116.0
7.0
8.0
9.0
10.0
11.0
12.0
13.0
14.0
15.0
10.3 10.5 10.8 10.6 10.2 10.311.0
14.0
11.9
9.8
Unemployment (%)
Source: TURKSTAT
May 2012 Ministry of Economy
Unemployment (%)
12
Belgium
Germany
Estonia
Ireland
Greece
Spain
France
Portugal
Slovenia
Slovakia
Finland
Turkey
0 5 10 15 20 25
7.25.9
12.514.4
17.721.7
9.712.9
8.213.5
7.89.8
Unemployment, 2011 (%)
Source: TURKSTAT, EUROSTAT
May 2012 Ministry of Economy
Unemployment in Turkey is lower than EU and Euro
Area average
13
Foreign Trade of Goods (Bl. $)
Source: TURKSTAT
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
50
100
150
200
250
300
41 5169
97116
139
170
201
140
185
241
31 36 4763 73
85107
132102 114
135
IMPORTS EXPORT
May 2012 Ministry of Economy
14
Foreign Trade Volume of Goods /GDP (%)
Source: TURKSTAT 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
0.0
10.0
20.0
30.0
40.0
50.0
60.0
37.7 38.541.0 39.4
42.4 42.945.7
39.6 40.7
48.7
May 2012 Ministry of Economy
Evolution of Turkish Exports
15May 2012 Ministry of Economy
Fasıl Adı 2000 Fasıl Adı 201161 Articles of apparel, accessories, knit or crochet 3.73 87 Vehicles other than railway, tramway 15.8062 Articles of apparel, accessories, not knit or crochet 2.51 84 Nuclear reactors, boilers, machinery, etc 11.5685 Electrical, electronic equipment 2.00 72 Iron and steel 11.2372 Iron and steel 1.62 85 Electrical, electronic equipment 8.8887 Vehicles other than railway, tramway 1.59 61 Articles of apparel, accessories, knit or crochet 8.4084 Nuclear reactors, boilers, machinery, etc 1.42 27 Mineral fuels, oils, distillation products, etc 6.5408 Edible fruit, nuts, peel of citrus fruit, melons 1.03 73 Articles of iron or steel 5.7663 Other made textile articles, sets, worn clothing etc 1.02 62 Articles of apparel, accessories, not knit or crochet 5.1352 Cotton 0.71 39 Plastics and articles thereof 4.5873 Articles of iron or steel 0.70 08 Edible fruit, nuts, peel of citrus fruit, melons 3.91
16.34 81.7927.77 134.97
Evolution of Turkey's Exports (Billion Dollar)
Subtotal SubtotalTotal Total
Records in goods exports
May 2012 Ministry of Economy 16
6 RECORDS IN 2011 GOODS EXPORTS
Export and Imports
17
Source: TURKSTAT
April 2012 Ministry of Economy
2000
2010
2011
The Number of Import Suppliers
161
194
236
140
168
238
The Number of Export Destinations
Years 2008 2009 2010 2011The Number of Companies Exporting 48.143 48.588 50.379 54.566The Number of Companies Importing 57.785 55.101 59.262 66.757
Turkey’s Services Trade
18
2002 2003 2004 2005 2006 2007 2008 2009 2010 20110.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
14.10
17.90
22.90 26.8025.50 28.90
35.50 33.90 34.70
38.90
6.10 7.4010.10
11.70 11.9015.60 17.80 16.60
19.20 20.70
Turkey's Services Trade (Bl. $)
Services Export Services ImportsSource: CBRT
May 2012 Ministry of Economy
Services
19
Tourism • Regarding number of visitors;
7 th in the World and 5 th in Europe (2010)6 th in the World and 4 th in Europe (2011 Expectations)
• Growth in 2000-2011 period;World: %3,5Turkey: %11,4
Construction• 2nd in terms of the number of top constructing companiesLogistics• Europe’s biggest truck fleet (45000 trucks /1400 companies)• 25. Biggest flight fleet in the world (1 million flight in 2011 /
460.000 international)• High-speed railway projects are carried out rapidly
May 2012 Ministry of Economy
Turkey's Share in Global Services Exports (%)
20
2007 2008 2009 2010 20110.75
0.8
0.85
0.9
0.95
1
1.05
0.84
0.92
0.99
0.92 0.93
Source: CBRT, WTO
May 2012 Ministry of Economy
Records in services Exports
21
6 RECORDS IN 2011 SERVICE EXPORTS
May 2012 Ministry of Economy
Current Account Deficit (Bil. USD)
22
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000*IDUS-Export Oriented Production Strategy*GITES-Import Procurement Strategy*New Incentives*Export Markets Differentiation*Sophistication of exports*Tools for Exports of Services
May 2012 Ministry of Economy
23
Turkey’s Free Trade Agreements
May 2012 Ministry of Economy
Agreements In Force
Planned FTA Negotiations
1. EFTA
2. Israel
3. Macedonia
4. Croatia
5. Bosnia and Herzegovina
6. Palestine Authority
7. Tunisia
8. Morocco
9. Syria
10. Egypt
11. Albania
12. Georgia
13. Montenegro
14. Serbia
15. Chile
16. Jordan
17. Lebanon (*)
18. Mauritius (*)
19. Korea (**)
(*) Under ratification process(**) Under signature process
1. Malaysia 8. Gulf
Cooperation
2. Colombia Countries
3. Ecuador 9. Seychelles
4. Ukraine 10. MERCOSUR
5. Cameroon 11. Faroe Islands
6. D.R. Congo 12. Moldova
7. Libya 13. Ghana
Ongoing FTA Negotiations
1. Canada 6. Mexico2. Algeria 7. South Africa3. India 8. African Caribbean Pacific
Countries4. ASEAN 9. Central America5. Peru 10. Indonesia
11. Vietnam
Foreign Direct Investment (FDI)
24
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110
5,000
10,000
15,000
20,000
25,000
9823,352
1,082 1,7022,785
10,031
20,18522,047
19,504
8,4119,038
15,904
Source: TURKSTAT
May 2012 Ministry of Economy
• From 2000 to 2011 , total 115 billion dollar Foreign Direct Investment
• In 2011, European Countries accounted for 60% of total Foreign Direct Investment
New Incentive Scheme for Turkey
25
The fundamentals of the New Incentive Scheme for Turkey was declared on 05.04.2012.The new incentive aims; -reducing current account deficit,
-contributing to the structural reformation of Turkey
-rebalancing economic disparities between the regions
The new scheme has four main pillars: - General investment incentive regime - Regional investment incentive regime - Incentives for large-scale investments - Incentives for strategic investments
The incentives in the new scheme can be summarized as follow; Value Added Tax (VAT) exceptions, exemptions from customs duties, social security premium contribution for employers, land provisions, support for interest payments on loans,, VAT refunds etc.
For further information please send an e-mail: tesvik@ekonomi.gov.tr or call +90 444 43 63
May 2012 Ministry of Economy
Trade Representatives Abroad
195 trade representatives from the Ministry are serving in 89 countries and 137 Center
26May 2012 Ministry of Economy
Daimi Temsilci Yardımcılığı
Ticaret Müşavirliği
Ticaret Ataşeliği
İrtibat Büroları
AFRİKA
KahireNairobi PretoriaRabatTrablusTunusKazablanka
ASYA
Astana Aşkabat Bangkok Bişkek Cakarta Duşanbe Hanoiİslamabad Kabil Kuala Lumpur Manila Pekin Seul Singapur
AVRUPA/KAFKASYAABDTÖOECDAtina Bakü Belgrad Berlin Bern BratislavaBrüksel Budapeşte Bükreş Dublin Helsinki Kiev Kişinev Kopenhag Lahey LizbonLefkoşa
Londra LubliyanaMadrid Minsk MoskovaOslo ParisPodgoricaPragPriştineRomaSaraybosna Sofya Stokholm TiflisTiran Üsküp Varşova Viyana Zagreb
BarselonaBatumDüsseldorfHamburgHannoverKazanMarsilyaMilanoMünihNovorossiskOdessaRotterdamSelanikSt. PetersburgStutgartBirminghamKrasnodarNovosibirskYekaterinburg
Taşkent Tokyo Ulan Bator Yeni Delhi AlmatıGuangzhouHong Kong KaraçiMumbaiŞangayGeorgetown
AbujaAddis Ababa AkraCezayirDakarDarüsselamHartumİskenderiye
Buenos Aires KarakasMexico CityOttavaSantiagoVaşingtonHoustonLos Angeles
AMERİKA
ORTA DOĞUAbu Dhabi Amman BağdatBeyrutDohaKuveytManama
MuskatRiyadSana ŞamTahranTel Aviv Basra
CiddeDubaiErbilHalepKudüsMusulTebriz
SidneyMelbourne
AVUSTRALYA
New YorkSao PauloŞikagoTorontoMiamiSan FranciscoSeattle
GEORGETOWN
Locations of Trade Representatives
27
MINISTRY of ECONOMY
THANK YOU
May 2012
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