(Source: turkstat.gov)

The GDP growth rate declined from 12.6% in Q1 2010 to 11.9% in Q1 2011 and it continued declining to 5.2% in Q4 2011.

Gross national income (GNI) per capita at PPP

(Source: UNDP)

 

The GNI per capita (at 2005 PPP$) has increased from USD 10,840 in 2005 to USD 12,246 in 2011. Turkey’s GNI per capita increased by about 59.4% between 1990 and 2011.

 

Income tax rate

Turkey follows a progressive taxation method. The personal income tax rates vary from 15% - 35%.

 

Taxable Income	Tax on Lower Amount	Tax Rate on Excess (%)
TRY 0 - 8,800	0	15
TRY 8,801 - 22,000	1,320	20
TRY 22,001 - 50,000	3,960	27
Over TRY 50,000	11,520	35

(Source:taxrates.cc)

Corporate tax rate

The corporate tax for both resident and non resident companies is levied at 20%.

(Source:taxrates.cc)

Inflation rate

 

(Source: Central Bank)

FDI inflow

(Source: Central Bank)

The foreign direct investment reflected an increase from USD 462 million in January 2011 to USD 3,498 million in December 2011.

Banking sector assets

The table below displays the assets of the Central Bank of the Republic of Turkey:

(Source: Central Bank)

Base year 2003 = 100

(Source: Central Bank)

The consumer price index has risen from 182.6 in January 2011 to 201.98 in January 2012. The increase in consumer price index reflects an increase in the prices of consumer goods in the country.

Producer price index

(Source: Central Bank)

Interest rates on saving deposits / time deposits

Weighted average interest rates on saving deposits and time deposits:

(Source: Central Bank)

During the year 2011, the interest rate on saving deposits remained constant at the level 0.25%.

Money supply

27-01-2012

06-01-2012

(Source: Central Bank)

Central Government Budget Balance and EU-Defined Debt Stock (% of GDP)

* = Estimate. ; ** = Target.

(Source: Central Bank; 2011 Annual Report)

Central Government Budget Deficit and EU-Defined Nominal CentralGovernment Debt Stock (% of GDP)

 (Source: Central Bank; 2011 Annual Report)

Public debt levels

(Source: Central Bank)

The public debt rose from TRY 353,285.64 million in January 2011 to 372,190.71 million in January 2012.

Official exchange rate

 

TRY/USD	2011	2010	2009
Buying	1.670000	1.500364	1.547065
Selling	1.678055	1.507603	1.554529

(Source:Central Bank)

Government finances

Sovereign debt dynamics

Fiscal balance

* = Estimate. ; ** = Target.

(Source: Central Bank; 2011 Annual Report)

 

Fiscal deficit for the year 2011 is estimated at -1.7% of the GDP.

 

Total revenue

Revenue (% of GDP)	2011*	2010	2009	2008
Tax Revenues	19.6	19.2	18.1	17.7
Non-Tax Revenues	2.5	3.2	3.8	3.7

* = Estimate.

(Source: Central Bank; 2011 Annual Report)

Tax revenue

(E)- Estimated target

(Source: Central Bank; 2011 Annual Report)

Current Account Balance - surplus/deficit

 

In recent years, Turkey’s current account balance has registered a constant rate of deficit. In 2009, a positive decline in the current account deficit was observed. In 2010, due to the widening foreign trade deficit and the rapid increase in service expenditures, causing the current account deficit to expand, and in 2011 the deficit reached its widest level, at 77.2 billion USD.

(Source; Central Bank)

Balance of payments

Indicators (USD million)	2011	2010	2009	2008
Current Account	-77,238	-46,643	-13,370	-41,524
Capital Account	-30	-51	-51	-61
Financial Account	66,370	58,929	10,065	34,707
Net Errors And Omissions	11,912	2,733	4,147	4,120
Global Balance	1,014	14,968	791	-2,758

 

 

 

 

 

(Source; Central Bank)

(Source:turkstat.gov)

The unemployment rate has declined from 10.9% in November 2010 to 9.3% in November 2011.

(Source: turkstat.gov)

Employment in agriculture

(Source: turkstat.gov)

The number of males employed in the agriculture sector in 2011 was 3.20 million, as compared to 2.96 million in 2010. Furthermore, the number of females employed in agriculture sector also increased from 2.72 million in 2010 to 2.94 million in 2011.

(Source: turkstat.gov)

Employment in industries

(Source: turkstat.gov)

The male employee population in the industrial sector in 2011 was 5.32 million, as compared to 4.9 million in the previous year. The female employment in the industrial sector was recorded at 1.02 million in 2010, which increased to 1.06 million in 2011.

(Source: turkstat.gov)

Employment in services

(Source: turkstat.gov)

In 2011, 8.61 million males were employed in the services sector as compared to 8.3 million in the previous year. The female employment in the services sector was recorded at 2.68 million in 2010, which increased to 2.97 million in 2011.

(Source: turkstat.gov)

Minimum wage

The minimum wage rate in Turkey is TRY 701.10. This wage rate is a net of tax and social charges for employees aged 16 years and above.

(Source:fedee.com)

Level of unionisation

The trade unions in Turkey include:

·         Confederation of Progressive Trade Unions of Turkey

·         Confederation of Public Workers' Unions

·         Confederation of Turkish Real Trade Unions

·         Confederation of Turkish Trade Unions

The Confederation of Progressive Trade Unions was founded in Istanbul in 1967. The Confederation of Turkish Real Trade Unions was set up at Ankara in 1976 and has about 9-affiliate trade unions. The Confederation of Turkish Trade Unions was established in 1952.

(Source: hakis.org.tr, disk.org.tr, havais.org.tr, turkis.org.tr)

Corruption perception

In the 2011 Corruption Perceptions Index (CPI), the country is ranked 61^st with a score of 4.2, worsening from its ranking of 56^th in the previous year. 

(Source:transparency.org)

Freedom of information

Turkey is ranked 148^th in the Press Freedom Index 2011-2012, with a score of 70.00. Turkey took a big step backwards and lost 10 places, Turkey was ranked in the Press Freedom Index 2010 with a score of 49.25. This indicates that the media services in the country are restricted; the judicial system launched a wave of arrests of journalists that was without precedent since the military dictatorship, 1980.

(Source: rsf.org)

Istanbul is the media capital which hosts the main press outlets. The various newspapers circulating in the country include:

·         Today's Zaman

·         Hurriyet

·         Sabah

·         Sozcu

·         Haberturk

·         Milliyet

·         Cumhuriyet

(Source: bbc.co.uk; gazeteciler.com)

Judicial system

The country’s judicial powers are exercised through various courts in the judicial system. The country’s laws are based on the constitution.

The various courts in the country include courts of justice, administrative courts, military courts and the constitutional court. Other than the constitutional court, other courts are divided into lower and higher courts.

(Source: yargitay.gov.tr)

The Supreme Court

The Supreme Court is in charge of reviewing decisions and judgements given by the other courts of justice. Its formation and manner of working is under the regulations of the special code.The court is divided into civil and criminal chambers, with 23 civil and 15 criminal chambers.

There are about 387 judges, 38 head of chamber and other judges, 812 judge-rapporteur and 200 prosecutors of the court in the Supreme Court.

(Source: yargitay.gov.tr)

(Source: turkstat.gov)

About 2,666,066 students were enrolled in 2011-12 for high schools, with an availability of 122,716 teachers and 4,171 schools. The enrolments recorded during the academic year of 2011-12 for vocational and technical high schools were 2,090,220, for which 5,501 schools and 94,966 teachers were available. There are about 1,756 higher educational institutions during the academic year 2010-11 with 111,495 teachers.

(Source: turkstat.gov)

Healthcare resources

As per 2010 records, the country had about 1,439 hospitals which included 1,266 general hospitals, 2 emergency and traumatology hospitals, 7 child diseases hospitals, 5 dental hospitals, 2 diabetes hospitals, 14 physical treatment and rehabilitation centres, 18 chest diseases hospital, 11 chest and cardiovascular diseases centres, 26 ophthalmology hospitals, 63 obstetric and child hospitals, 1 cardiology hospitals, 3 bone diseases hospitals, 1 lepra hospitals, 2 occupational diseases hospitals, 5 oncology hospitals, 12 psychiatry hospitals and a veneral diseases hospital. A total of 199,950 beds are available for the 1,439 hospitals in the country.  

The nation has about 123,447 physicians including, 63,563 specialist physicians, 38,818 general practitioners, 21,066 medical residents, 116,979 nurses, 51,293 midwifes, 21,432 dentists, 26,506 pharmacists and 94,900 health officers.

(Source: turkstat.gov)