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Turkey Economy

Economy

Turkey is a large, middle - income country with relatively few natural resources. Textiles and Clothing industry's are amongst the largest industrial sector contributing for up to one-third of the industrial employment. The service industry contributes over 50 percent of the country's economy with some of the main produces being textiles, food processing, mining including coal, chromite, copper, and boron. The agricultural industry is very successful accounting for over 30 percent of the economy. The official currency is the Lira. Turkey's economy is dependent on a two different aspects of its country's heritage. While the time-honored agricultural segment is a major contributor, so are the new industrial sectors of banking, transport, and communications.

GDP
  • Purchasing power parity      : $859.8 billion (2009 est.)
  • Real growth rate            : -6% (2009 est.)
  • Per capita (PPP)            : $11,200 (2009 est.)
Composition by sector        :
  • Agriculture                  : 9.4%
  • Industry                    : 25.9%
  • Services                    : 64.7% (2009 est.)
  • Labor force                  : 25.3 million
Labor force by occupation  :
  • Agriculture                  : 29.5%
  • Industry                    : 24.7%
  • Services                    : 45.8% (2005)
  • Unemployment rate            : 14.5% (2009 est.)
Population below poverty line:
17.11% (2008)

Investment (gross fixed)  
20.1% of GDP (2009 est.)

Budget     
  • Revenues : $145.3 billion
  • Expenditures: $180.6 billion (2009)
  • Agriculture products      : Tobacco, cotton, grain, olives, sugar beets, hazelnuts, pulse, citrus; livestock
  • Industries  : textiles, food processing, autos, electronics, mining (coal, chromate, copper, boron)   
Industrial production growth rate: -11.8% (2009 est.)

Electricity production    : 198.4 billion kWh (2008 est.)

Electricity consumption    : 198.1 billion kWh (2008 est.)

Electricity exports        : 1.12 billion kWh (2008 est.)

Electricity imports        : 790 million kWh (2008 est.)

Natural gas production    : 1.014 billion cu m (2009 est.)

Natural gas consumption    : 32.1 billion cu m (2009 est.)

Natural gas exports        : 721 million cu m (2009 est.)

Natural gas imports        : 33.6 billion cu m (2009 est.)

Exports                      : $102.2 billion (2009 est.)
  • Exports commodities        : apparel, foodstuffs, textiles, metal manufactures, transport equipment
  • Exports partners          : Germany 9.8%, France 6.1%, Italy 5.8%, UK 5.8%, Iraq 5% (2009 est.)
Imports                      : $140.8 billion (2009 est.)
  • Imports commodities        : machinery, chemicals, semi-finished goods, fuels, transport equipment
  • Imports partners          : Russia 14%, Germany 10%, China 9%, US 6.1%, Italy 5.4%, France 5% (2009 est.)
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