ECON FACTBOOK

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Economy of Turkey

Population: 75 million in 2013¹

GDP: $820 billion in 2013²

GDP per capita: $10,972 nominal³ ($18,975 PPP⁴) in 2013

GDP growth rate: 4.1% in 2013⁵

Industries

GDP by Industry 2012⁶

Industry sector	Value added ($ billions) 2012	Percent of total
Other activities	220	32.1%
Manufacturing	126	18.3%
Wholesale, retail trade, restaurants and hotels	112	16.3%
Transport, storage and communication	104	15.2%
Agriculture, hunting, forestry, fishing	62	9.0%
Construction	34	5.0%
Mining and utilities	28	4.2%
Total value added	687	100%

Employment

Unemployment rate: 10.0% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Agriculture, forestry and fishing	5,850	22.9%
Manufacturing	4,632	18.1%
Wholesale trade, retail trade and repair of motor vehicles	3,518	13.8%
Construction	1,780	7.0%
Public administration and defence	1,463	5.7%
Accommodation and food service	1,308	5.1%
Education	1,248	4.9%
Transportation and storage	1,151	4.5%
Administrative and support service	1,019	4.0%
Human health and social work	858	3.4%
Other service	636	2.5%
Professional, scientific and technical	553	2.2%
Activities of households as employers	326	1.3%
Finance and insurance	288	1.1%
Information and communication	254	1.0%
Real estate	186	0.7%
Water supply, sewerage and waste management	122	0.5%
Arts, entertainment and recreation	121	0.5%
Mining and quarrying	105	0.4%
Electricity, gas, steam and air conditioning	96	0.4%
Extraterritorial organizations and bodies	6	0.0%
Total employment	25,520	100%

Corporations

Top 1 Corporation by Revenue 2013* ⁹

Rank	Corporation	Revenue ($ billions) 2013	Profit ($ billions) 2013	Assets ($ billions) 12/31/13	Industry
1	Koc Holding	34	1.2	27	Diversified

* Corporate data calculated using the exchange rate 2.285 TRY = 1 USD

Households

Household Wealth: $1.06 trillion (129% of GDP) in 2014¹⁰

Household Wealth per Adult: $20,347 in 2014¹⁰

Gini Coefficient: .402 in 2010¹¹

Government

Central Government

Central Government Revenue: $190 billion (23% of GDP) in 2013¹²

Central Government Expenditure: $208 billion (25% of GDP) in 2013¹²

Central Government Budget Balance: -$18 billion (-2% of GDP) in 2013¹²

Central Government Public Debt: $265 billion (32% of GDP) in Q2 2014* ¹³

Central Government 10 Year Bond Interest Rate: 7.19% on Jan 12, 2015¹⁴

* Public debt calculated using the exchange rate 2.285 TRY = 1 USD

Government Funds

N/A

Tax Structure

Personal Income Tax Rates and Thresholds in 2013* ¹⁵

15%: $0-$4,683
20%: $4,683-$11,379
27%: $11,379-$41,138
35%: $41,138+

Corporate Tax Rate: 20%¹⁶

* Thresholds calculated using the exchange rate 2.285 TRY = 1 USD

Monetary Policy

Money Supply (M1): $110 billion (13% of GDP) on Jan 2, 2015* ¹⁷

Benchmark Interest Rate: 1 Week Repo = 8.25% on Dec 24, 2014¹⁸

Total Reserves: $131 billion (16% of GDP) in 2013¹⁹

Exchange Rate: 2.285 Turkish Liras = 1 U.S. Dollar²⁰

Inflation: 7.5% in 2013²¹

* Money supply calculated using the exchange rate 2.285 TRY = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets²²

N/A (data not available at Relbanks.com)

International Accounts

Exports: $168 billion (20% of GDP) in 2013²³

Imports: $242 billion (29% of GDP) in 2013²³

Trade Balance: -$74 billion (-9% of GDP) in 2013²³

Foreign Direct Investment Inflow: $12.9 billion (2% of GDP) in 2013²⁴

Foreign Direct Investment Outflow: $3.1 billion (0.3% of GDP) in 2013²⁴

Foreign Aid Inflow: $3.3 billion (0.4% of GDP) in 2013²⁵

Foreign Aid Outflow: $1.3 billion (0.2% of GDP) in 2011²⁶

References