
Türkiye
Back to square one
HIGH RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP | USD815.27bn (World ranking 19, World Bank 2021) |
Population | 85.04mn (World ranking 17, World Bank 2021) |
Form of state |
Presidential Republic |
Head of government | Recep Tayyip ERDOGAN (President) |
Next elections | 2023, presidential and legislative |

- Important geostrategic position (that has historically always ensured aid when needed)
- Adequate business environment (though deteriorating)
- Potential as regional hub between Europe, MENA and Asia

- Exchange rate vulnerability to domestic and external shocks
- Economic policy responsiveness
- History of persistently large current account deficits, largely financed through short-term external debt, which has risen to a very high level in the meantime
- (External) debt refinancing risk of weaker companies and banks
- Deep-rooted division in society between secularists and religious conservatives
- Geopolitical risks
Trade structure by destination/origin
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Germany
9.5%
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1 |
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United Kingdom
6.7%
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2 |
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United States
6.0%
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3 |
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Iraq
5.4%
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4 |
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Italy
4.8%
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5 |
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Trade structure by product
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Road vehicles
15.2%
|
1 |
11.4%
Gold, non-monetary (excluding gold ores and concentrates)
|
Articles of apparel & clothing accessories
9.2%
|
2 |
6.7%
Road vehicles
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Textile yarn and related products
8.8%
|
3 |
5.8%
Iron and steel
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Iron and steel
6.9%
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4 |
5.5%
Electrical machinery, apparatus and appliances, n.e.s.
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Electrical machinery, apparatus and appliances, n.e.s.
5.8%
|
5 |
4.8%
Other industrial machinery and parts
|
LATEST NEWS ABOUT TURKEY
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Sector vulnerability to rising financing costs
02 June
Five sectors stand out as the most exposed to financing stress: transportation, construction, hospitality, commodities and automotive.
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Allianz Trade Global Survey 2023: Testing resilience
01 June
Roughly 70% of the nearly 3,000 companies we surveyed expect business turnover generated through exports to increase in 2023, against close to 80% in the 2022 edition.
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European commercial real estate – selectivity matters!
25 May
The commercial real estate sector is getting squeezed by tightening financing conditions but prime assets have remained resilient.
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