GTurkiye

Category: Economy

  • Investment in Turkey

    From 1954 to 1980, total direct foreign investment in Turkey was only $288 million. Since 1980, thanks to liberal direct foreign investment regulations which make no distinction between foreign and domestic investors, Turkey has issued foreign direct investment permits totaling over $25 billion (as of December 1999). Almost 5,000 foreign companies actively participate in the Turkish economy.

    Turkey has also made substantial investments in and reaped impressive rewards from the tourism sector. During the last decade, the number of tourists and tourism revenues have increased considerably. In 2025, more than 60 million tourists will visit Turkey, generating revenue of $95 billion.

  • Turkeys Industry

    Industry, which has always been considered to be the key sector of the economy, takes the lead in this development process. Especially after the liberalization movements, it showed a remarkable growth, and level of production in this sector reached the world-wide standards. Among the several sub-sectors of the Turkish industrial sector, there exist the defense, electronics, iron and steel, automotive, glass and sugar industries. The cement industry plays an important role in the country holding a high ranking position in world production.

    The textiles and clothing sub-sector is another advanced branch, and Turkey, as a major cotton producer, increases its exports of textile products every year. Processing of agricultural products, production of agricultural machinery, and the fertilizer industry are to be mentioned here, while they relate to another main sector of the Turkish economy, namely agriculture.

    All these measures and developments are expected to fuel further economic growth. The most conservative projections predict an annual average growth rate of 6.5 percent in the coming years. With its young and well trained workforce; rich natural resources; well developed infrastructure; improved transportation, telecommunications and banking systems; rapidly growing domestic market; and dynamic and developed industry, Turkey today and in the future offers an attractive and secure investment opportunity to foreign investors. Agriculture, Mining, Manufacturing and Tourism are the main Industries in Turkey.

    Energy Sektor of Turkey
    Energy production (lumber and petroleum products) construction and transportation are other important areas, each continuing a steady progress.

    Mining in Turkey
    The mining sector is one, with the principal minerals of coal, iron, lead, chrome, aluminum, gold, silver, mercury, zinc, copper, bauxite and sulfur being extracted and processed. Industrial raw materials include asbestos and phosphate. Energy raw materials are coals, uranium, oil and geothermal sources.

    Major Imports of Turkey
    These include petroleum products, chemicals, pharmaceuticals, plastics, iron, steel, vehicles and machinery.