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