Turkey Oil production Turkey Electricity production

Turkey Economy

Economy - overview:turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that in 2004 still accounted for more than 34% of employment. it has a strong and rapidly growing private sector. yet the state still plays a major role in basic industry. banking. transport. and communication. the largest industrial sector is textiles and clothing. which accounts for one-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. however. other sectors. notably the automotive and electronics industries. are rising in importance within turkey's export mix. real gnp growth has exceeded 6% in many years. but this strong expansion has been interrupted by sharp declines in output in 1994. 1999. and 2001. the economy is turning around with the implementation of economic reforms. and 2004 gdp growth reached 9%. inflation fell to 7.7% in 2005 - a 30-year low. despite these strong economic gains in 2002-05. which were largely due to renewed investor interest in emerging markets. imf backing. and tighter fiscal policy. the economy is still burdened by a high current account deficit and high debt. the public sector fiscal deficit exceeds 6% of gdp - due in large part to high interest payments. which accounted for about 37% of central government spending in 2004. prior to 2005. foreign direct investment (fdi) in turkey averaged less than $1 billion annually. but further economic and judicial reforms and prospective eu membership are expected to boost fdi. privatization sales are currently approaching $21 billion.

GDP (purchasing power parity) : $551.6 billion (2005 est.)

Inflation rate: 7.7% (2005 est.)

Labor force : 24.7 million note: about 1.2 million turks work abroad (2005 est.)

Industries: textiles. food processing. autos. mining (coal. chromite. copper. boron). steel. petroleum. construction. lumber. paper

Turkey

			Over view
			Geography
			People
			Government
			Economy
			Communications
			Transportation
			Militry

Turkey More Facts

Electricity - production: 133.6 billion kwh (2003)

Oil - production: 50.000 bbl/day (2005 est.)

Turkey More Facts

Exports: $72.49 billion f.o.b. (2005 est.)

Imports : $101.2 billion f.o.b. (2005 est.)
Currency (code) : turkish lira (trl). new turkish lira (ytl) after 1 january 2005