Economy of Turkey
Economy of Turkey
Currency
Turkish lira (TRY)[1]
Fiscal year
calendar year
Trade
organisations
G-20 major economies,
OECD, EU Customs Union,
WTO, ECO, BSEC
Statistics
GDP
$937.143 billion[2] (2008
est.)
GDP growth
4.5%[3] (2008 est.)
GDP per capita $13,447[2] (2008 est.)
GDP by sector
agriculture: 8.5%, industry:
28.6%, services: 62.9%[4]
(2008 est.)
Inflation (CPI)
6.1%[5] (April 2009)
Labour force
23.21 million[4] (2008 est.)
Labour force
by occupation
agriculture: 29.5%, industry:
24.7%, services: 45.8%[4]
(2005)
Unemployment 7.9% plus underemployment
of 4%[4] (2008 est.)
Main
industries
textiles, food processing,
autos, electronics, mining
(coal, chromite, copper,
boron), steel, petroleum,
construction, lumber, paper
External
Exports
$141.8 billion f.o.b.[4] (2008)
Export goods
textiles, foodstuffs, metal
manufactures, transport
equipment, electronics,
home appliances
Main export
partners
Germany 11.2%, United
Kingdom 8.1%, Italy 7%,
France 5.6%, Russia 4.4%,
Spain 4.3%[4] (2007)
Imports
$204.8 billion f.o.b.[4] (2008)
Import goods
machinery, chemicals, semi-
finished goods, fuels,
transport equipment
Main import
partners
Russia 13.8%, Germany
10.3%, China 7.8%, Italy
5.9%, United States 4.8%,
France 4.6%[4] (2007)
Gross External
Debt
$294.3 billion[4] (31
December 2008)
Public finances
Public Debt
37.1% of GDP[4] (2008 est.)
Revenues
$164.6 billion[4] (2008 est.)
Expenses
$176.3 billion[4] (2008 est.)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US
dollars
Turkey’s economy is a dynamic mix of tradi-
tional craftsmanship and modern industries,
increasingly dominated by the latter. Turkey
has a strong and rapidly growing private sec-
tor, yet the state still plays a major role in in-
dustry, banking, transport, and communica-
tions. In recent years, the Turkish economy
has expanded strongly, registering growth
rates of 8.9% and 7.4% for the 2004 and
2005 fiscal years, respectively.
Macro-economic trends
The CIA classifies Turkey as a developed
country.[6]