Many have hailed Turkey’s notable development performance over the past decade, and for good reason. The country averaged 5.4% growth between 2003 and 2013, one of the highest rates in the world. This was accompanied by drops in joblessness and poverty, as well as gains in school enrolment, home-ownership and life expectancy.
Turkey has spent the last decade trying to maximise the potential of its geographical position and ability to expand its economy with export-led growth. While this has been hampered by a heavy dependence on imports and a bulging current account deficit, the country has made great strides in growing trade and diversifying markets.
The country is now in the midst of a lengthy political cycle, with the local elections in March 2014 being followed in August by the country’s first-ever, direct presidential elections. 2015 will also see the country’s 18th general election, currently scheduled for June 7. Thus, these are very much political and busy times for Turkey, a characteristic given some edge by...
Turkey’s trade record over the last few years has been relatively impressive. Exports have risen substantially, if erratically. In 2006, exports stood at $85.5bn. By 2014, the figure reached a record high of $157.6bn. However, imports have also grown rapidly, reaching $242.2bn in 2014. This trade deficit, which reached 10% of GDP in 2014, has been a perennial problem for the...
While the Hagia Sophia and the Blue Mosque often get top billing in the tourism circuit, the Maiden's Tower, or “Kız Kulesi” in Turkish, is a popular spot that has a much deeper history than is widely known. The use of the site of the current tower began in roughly the 5th century BCE. Its history spans both empire and republic, and the tower – on a small islet in the...
SOCIETY & ETIQUETTE: Turkish society is a unique mix of cosmopolitanism and conservatism, with large cities like Istanbul, Ankara or Izmir generally being fairly liberal, while the eastern and rural provinces of the country tend to be more traditional. It is very common to be offered tea at...
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