Turkey has seen a transformation in its defence industry in recent years, with a noticeable shift from arms procurement to arms manufacture and sales. Turkish-made defence equipment has been attracting buyers from around the world, building on growing confidence and skill in a string of related domestic sectors, from automotives to shipbuilding and aerospace. The overall aim...
While Turkey’s metals industry may not be globally renowned, its products are a major export and source of revenue. Indeed, a “Made in Turkey” stamp can now be found on everything from the copper wires in NASA spacecraft to the steel pots and pans in many of the world’s kitchens. The sector faces some important challenges, however, in its future development. Sourcing raw...
Turkey’s industry includes a wide variety of manufacturers, primary producers and traders, responsible between them for a major share of the country’s GDP. Indeed, in 2014, exports by the entire automotive industry (including components) alone reached $22.27bn – more than the entire GDP of Iceland.
Turkey is one of the world’s top gold and jewellery exporters, sending manufactured pieces and fine precious metals and stones to many regional countries as well as further afield. The country imports a great deal of these valuable commodities and products, while its domestic market is a robust one – for both the buying and selling of gold, diamonds and jewellery. There is a...
Sharia-compliant insurance, or takaful, is set to grow in Turkey, with its predominantly Muslim population showing increasing interest in Islamic finance products and the government keen to support their growth. Insurance of any kind can be a hard sell in Turkey, with the population generally averse to insurance cover and penetration levels as low as 1.4%, according to...
With the size of the market widely expected to double over the next decade, Turkey represents a major opportunity for retailers. Yet with recent years seeing big internationals pulling out or downsizing their participations, and as the pace of economic growth slows, consumer confidence is weakening and some challenges do remain. At the same time though, local groups have...
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