Turkey Economic Profile
Key Facts
| GDP: | $773.1 billion, ranked 17 in the world |
|---|---|
| Exchange rate: | 1.88230 (rate in currency units per U.S. dollar) |
| Inflation rate: | 8 percent |
| Budget: | $176.7 billion (revenues), $187.1 billion (expenditures) |
| Budget Deficit: | -1.3% of GDP |
| Unemployment: | 9.8% |
| Foreign Direct Investment: | $ 15.9 billion (in U.S. dollars) |
Sources: CIA Factbook, Federal Reserve
Market Data
| Central Bank: | Central Bank of the Republic of Turkey |
|---|---|
| S&P: | BB/Stable |
| Moody's: | Ba1/Positive |
| Fitch: | BB+/Positive |
| International Reserves: | $91,071.96 (Data in millions, as of June 2012) |
Source: Standard & Poor, Moody's, Fitch, IMF, Central Bank of the Republic of Turkey
Importing & Exporting
| Top Import Markets: | Russia, Germany, China, U.S., Italy, Iran (2009) |
|---|---|
| Top Export Markets: | Germany, Iraq, U.K., Italy, France, Russia (2009) |
| Top Imports: | Machinery, chemicals, semi-finished goods, fuels, transport equipment |
| Top Exports: | Apparel, foodstuffs, textiles, metal manufactures, transport equipment |
| Balance of Trade: | $ -13,780 (2nd Quarter 2012, in millions of dollars) |
Source: IMF, CIA Factbook, OECD
Government and Legal
| Form of Government: | Republican Parliamentary Democracy |
|---|---|
| Legal System: | Civil Law system based on various European legal systems notably the Swiss civil code. Note: member of the European Court of Human Rights, although Turkey claims limited exemptions on the ratified European Convention on Human Rights |
Sources: CIA Factbook
Population: 73,639,596
Currency: Lira
Natural resources: coal, iron ore, copper, chromium, antimony, mercury, gold, barite, borate, celestite (strontium), emery, feldspar, limestone, magnesite, marble, perlite, pumice, pyrites, clay, arable land, hydropower
Industries: textiles, food processing, autos, electronics, mining (coal, chromate, copper, boron), steel, petroleum, construction, lumber, paper
