
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, 2021)
Exports | Rank | Imports |
---|---|---|
Germany
8.6%
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1 |
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United States
6.5%
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2 |
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United Kingdom
6.1%
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3 |
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Italy
5.1%
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4 |
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Iraq
4.9%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Road vehicles
10.8%
|
1 |
6.4%
Iron and steel
|
Iron and steel
8.4%
|
2 |
5.6%
Road vehicles
|
Articles of apparel & clothing accessories
8.3%
|
3 |
5.3%
Metalliferous ores and metal scrap
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Textile yarn and related products
6.7%
|
4 |
5.2%
Plastics in primary forms
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Electrical machinery, apparatus and appliances, n.e.s.
5.9%
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5 |
4.8%
Non-ferrous metals
|
LATEST NEWS ABOUT TURKEY
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Everything everywhere all at once
29 March
Negative confidence effects from the near-death experience in the US banking sector and the unresolved energy situation in Europe will shape the rest of the year.
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Swiss shotgun wedding – What’s next?
24 March
What to watch: US Fed's interest rate path, France's political & social crisis, EU electricity markets
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Centrifugal emerging markets
23 March
While the global financial system remains dominated by advanced economies (and anchored to the US monetary regime), it will be increasingly shaped by faster-growing emerging market economies.
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