background preloader

Economy of Turkey

Facebook Twitter

Economy of Turkey. The economy of Turkey is defined as an emerging market economy by the IMF[34] and the country is one of the developed countries according to CIA,[35] making Turkey also one of the world's newly industrialized countries.

Economy of Turkey

The country is among the world's leading producers of agricultural products; textiles; motor vehicles, ships and other transportation equipment; construction materials; consumer electronics and home appliances. In recent years, Turkey had a rapidly growing private sector, yet the state still plays a major role in industry, banking, transport, and communications. Macroeconomic trends[edit] While many economies have been unable to recover from the recent global financial recession, the Turkish economy expanded by 9.2% in 2010, and 8.5 percent in 2011, thus standing out as the fastest growing economy in Europe, and one of the fastest growing economies in the world.

Hence, Turkey has been meeting the “60 percent EU Maastricht criteria” for public debt stock since 2004. Economic history of Turkey. The economic history of Republic of Turkey may be studied according to sub-periods signified with major changes in economic policy: i) 1923-1929, when development policy emphasised private accumulation; ii) 1929-1945 when development policy emphasised state accumulation in a period of global crises; iii) 1950-1980, a period of state guided industrialisation based on import substituting protectionism; iv) 1980 onwards, opening of the Turkish economy to liberal trade in goods, services and financial market transactions.

Economic history of Turkey

However one distinct characteristic between 1923–1985, in large part as a result of government policies, a backward economy developed into a complex economic system producing a wide range of agricultural, industrial, and service products for both domestic and export markets the economy grew at an average annual rate of six percent. From World War I to World War II[edit] Turkey's economy recovered remarkably once hostilities ceased.

Post 1950[edit] File:Turkey per capita income by province 2011.svg. Cancel Edit Delete Preview revert Text of the note (may include Wiki markup) Could not save your note (edit conflict or other problem).

File:Turkey per capita income by province 2011.svg

Please copy the text in the edit box below and insert it manually by editing this page. Upon submitting the note will be published multi-licensed under the terms of the CC-BY-SA-3.0 license and of the GFDL, versions 1.2, 1.3, or any later version. See our terms of use for more details. Add a note Draw a rectangle onto the image above (press the left mouse button, then drag and release).

Save To modify annotations, your browser needs to have the XMLHttpRequest object. [[MediaWiki talk:Gadget-ImageAnnotator.js|Adding image note]]$1 [[MediaWiki talk:Gadget-ImageAnnotator.js|Changing image note]]$1 [[MediaWiki talk:Gadget-ImageAnnotator.js|Removing image note]]$1. Economy of Turkey. Transport in Turkey. This article deals with the system of transport in Turkey, both public and private.

Transport in Turkey

Railways[edit] The TCDD - Türkiye Devlet Demir Yolları (Turkish State Railways) possess 10,984 km of 1,435 mm (4 ft 8 1⁄2 in) gauge, of which 2,336 km are electrified (2005).[1] (Map) There are daily regular passenger trains all through the network.[2] TCDD has started an investment program of building 10.000 km high-speed lines until 2023. By February 2014, three high speed train routes are running. Ankara-Eskisehir, Ankara-Konya and Eskisehir-Konya. The freight transportation is mainly organized as block trains for domestic routes, since TCDD discourages under 200 to loads by surcharges.

Tourism in Turkey. Tourism in Turkey is focused largely on a variety of historical sites, and on seaside resorts along its Aegean and Mediterranean Sea coasts.

Tourism in Turkey

In the recent years, Turkey has also become a popular destination for culture, spa, and health care tourism. In 2011, Turkey attracted more than 31.5 million foreign tourists,[1] ranking as the 6th most popular tourist destination in the world.[2] In January 2013, the Turkish government announced that it will build the world's largest airport in Istanbul.

The operation has an invested 7 billion euros and will have its first part of a four part plan completed by 2017.[3] Istanbul[edit] Istanbul is one of the most important tourism spots not only in Turkey but also in the world.