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.
Articles & Analysis | Turkey's construction sector driving growth in mining and construction machinery and equipment from The Report: Turkey 2015
Articles & Analysis | Turkey records strong economic growth in last decade from The Report: Turkey 2015
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.
Interviews & Viewpoints | Richard Moore, UK Ambassador to Turkey: Interview from The Report: Turkey 2015
From an economic standpoint, how does the UK view the importance of its relationship with Turkey?
Articles & Analysis | Turkey pursuing economic development with an eye towards 2023 goals from The Report: Turkey 2015
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...
Interviews & Viewpoints | Dr Jim Yong Kim, President, World Bank Group, on the development lessons Turkey can share with the world: Viewpoint from The Report: Turkey 2015
The founding father of the Turkish Republic, Mustafa Kemal Atatürk, said, “Economic development forms the backbone of the ideal of Turkey, which is free, independent, ever stronger and more prosperous”. Turkey has made great strides in the realisation of this ideal, thanks to a solid track record of macroeconomic management and structural reforms. It is thus fitting that the...
Articles & Analysis | Turkey works to address trade deficit by pursuing further free trade agreements from The Report: Turkey 2015
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...