Turkey (Economic, development) news

[Sharki]

Good news..

Turkey's budget in May gave a surplus of 4.6 billion Turkish liras and was up 61.8 percent when compared to the same period in 2011.

In May, primary surplus increased 1.4 percent compared to the same month last year and reached a value of 7 billion Turkish liras.

In May, income from taxes went up 13.7 percent compared to the same period in 2011 and was recorded as 26.5 billion TL.

Turkey's budgetary expenses in May, except interests, went up 17.8 percent compared to the same month last year and was recorded as 23.8 billion TL.

Between January and May 2012, Turkey's budget had a deficit of 432 million TL while the primary surplus in this five month term was recorded as 23.9 billion TL.

In January-May period of 2012, budgetary income in Turkey increased 15.1 percent compared to the same period last year and reached a figure of 137.4 billion TL.

Turkish budget gives surplus of 4.6 billion TL in May | Economy | World Bulletin

 

[Sharki]

Turkish export part:

 

[explorer9]

What is tax to GDP ratio of Turkey? is it more than 20 %?

 

[Sharki]

What is tax to GDP ratio of Turkey? is it more than 20 %?

Approximately, 24-26% is tax to GDP ratio..

 

[lem34]

Greece and EEC eat your heart out

 

[explorer9]

Approximately, 24-26% is tax to GDP ratio..

That is really wonderful, now i got the reason of surplus still needs to work upon CAD, you people have started using you currency logo?

 

[BordoEnes]

That is really wonderful, now i got the reason of surplus still needs to work upon CAD, you people have started using you currency logo?

Yes, You can already see it all over commericials!

 

[explorer9]

Yes, You can already see it all over commericials!

very good keep it up, wish you inclined growth!

 

[Ottoman-Turk]

 

[what]

I still dont get why we dont put it after the the value, like 300 €. Looks somehow wrong to me.

 

[Ottoman-Turk]

its before the value , you said opposite we put it after the value

 

[what]

I swear I saw it before the value in ads on tv.

 

[Selim I]

I still dont get why we dont put it after the the value, like 300 €. Looks somehow wrong to me.

You also say "10 kg" (10 kilo) and not "kg 10", or "5 m" (5 meter) instead of "m 5". What's so weird about 300 €?

The unit is always after the value in SI-physics.

 

[what]

I said I still dont get why we dont put it after the value like with euros, because I saw it in an ad the other way like the British do.

 

[cabatli_53]

Turkey, exports +10.9%, imports -2.7% in 4 months Trade with European Union down

On the back of a 2.2% increase in trade in April 2011, Turkey's exports increased by 10.9% between January and April 2012, while imports fell by 2.7%.

Over the period examined, the negative balance fell from 33.7 to 26.9 billion dollars, confirming the efficiency of government measures aimed at reducing imports and the trade deficit. Another significant variation, according to figures released by Turkey's statistics institute TUIK, is the fall in trade with the European Union, which is down from 50.5 to 47.3 billion dollars.

This figure can also be read as the result of measures being carried out by the government to diversify markets to reduce dependence on the EU market, the country's main trade partner. The EU share of total Turkish trade in the first four months of last year stood at 42%, with a total of 50.5 billion, while the figure today stands at 38.5% (47.3 billion in value). The total, which remains favourable to the EU, has fallen by 7.3% (8.6 billion in April 2011 against 7.9% in April 2012). In the list of Turkey's commercial partners, Germany is in first place with trade of 10.9 billion and a trade deficit for Turkey of 1.9 billion, ahead of Russia (10.1 billion euros and a trade deficit for Turkey of 6 billion); Iran in third (almost 7.8 billion euros and a trade deficit for Turkey of 2.5 billion); China in fourth position (7.4 billion euros and a trade deficit for Turkey of 5.8 billion) and the United States (6.7 billion euros and a trade deficit for Turkey of 2.9 billion). Italy is in sixth place, with trade worth 6.3 billion dollars and a trade deficit for Turkey of 2 billion.


Turkey, exports +10.9%, imports -2.7% in 4 months Trade with European Union down | glObserver Global Economics

Trade: Turkey's exports reach 11.8 bln USD in May
-------------------------------------------------------

(ANSAmed) - ANKARA, JUNE 1 - Turkey's exports rose by 7.3% to 11.8 billion U.S. dollars in May 2012 compared to the same month of 2011, as Anatolia news agency reports. Turkish Assembly of Exporters (TIM) announced on Friday exports figures for May 2012 at a gathering in southern province of Antalya with participation of Economy Minister Zafer Caglayan. Exports increased by 10.31% to 59.8 billion U.S. dollars year-on-year in the first five months of 2012. The country's exports exceeded 140 billion USD in the past 12 months. (ANSAmed).

Turkey: industrial employment up in the first term of 2012
---------------------------------------------------------------------

(ANSAmed) - ANKARA, JUNE 1 - Turkey's industrial employment increased 4.6% in the first term of 2012 when compared to the same term of 2011, as Anatolia news agency reports. It remained same with the previous term of 2012, stated TurkStat, Turkey's statistical authority, on Friday. Hours worked in industry also increased 4.6% over to the same term of 2011, and 0.6% over to the previous term. Gross wages-salaries in industry increased 17.3% over to the same term of 2011, and 0.9% over to the previous term. (ANSmed).

Economical news for May...

----------------------------------

Turkey's competitiveness higher than some EU countries, IMD
-------------------------------------------------------------------

(ANSAmed) - BRUXELLES, MAY 31 - Turkey's competitiveness is higher than some EU countries such as Spain and Italy, as Anatolia news agency reports today quoting fugures from the 2012 report of IMD (International Institute for Management Development). According to IMD, Turkey, in competitive strength, rose one step to the 38th rank by having 62.24 points. Countries such as Spain, Italy, Portugal, Hungary, Slovakia, Slovenia, Romania, Bulgaria, Greece, Brazil, Russia and South Africa remained behind Turkey in the ranking. Hong Kong ranked the top with 100 points and followed by the US with 97.75 points and Switzerland with 96.68 points. IMD is a nonprofit business school located in Lausanne, Switzerland. (ANSAmed).

---------------------------------------------------------

Turkey: FDI in industrial sector soar 251% in Q1
-------------------------------------------------------

ISTANBUL, MAY 15 - Foreign direct investments (FDI) in industrial sector in Turkey in the first quarter was up 251% over the same period a year earlier to reach nearly 2.5 billion USD, data showed as overall FDI in Q1 reached 3.9 billion USD. FDI in the sub-sectors of food, beverages and tobacco production hit a record high to increase to 1.2 billion USD in Q1 this year from 6 million USD over the same quarter in 2011, according to data from the Turkish Central Bank reported by Anatolia news agency. On monthly basis in the first quarter, FDI in the industrial sector was up 102% in March over the previous two months. FDI in services sector, however, decreased 70.5% in Q1 2012 over the same period a year earlier down at 1.4 billion USD, and the decline was mainly due to lower investments in financial and insurance sectors that saw a 86.5% drop to 596 million USD from 4.4 billion USD. Britain was the top foreign investor to inject 1.9 billion USD, which was followed by 430 million USD by the Netherlands. The lowest FDI flow in Q1 was from France with only 30 million USD, a dramatic drop from 760 million USD which made the country the third biggest foreign investor in Turkey over the same period last year.


Turkey: FDI in industrial sector soar 251% in Q1| glObserver Global Economics

Turkeys exports in 2012 are expected to hit at least USD 150 billion

Turkeys exports in 2012 are expected to hit at least USD 150 billion
--------------------------------------------------------------------------------

Following a record-breaking 2011, Turkeys exports in the new year are expected to hit at least USD 150 billion, according to the Turkish Exporters Assembly (TIM) President, Mehmet Buyukeksi. Turkeys 2011 exports amounted to USD 134.6 billion, 18.2 % additional than the 2010 total.


Turkey will export at least USD 150 billion worth of goods this year, Buyukeksi estimate at an assembly conference , adding that Turkeys exports in the first 25 days of January increased by 13.3 % over the same period of 2011. 2012 will be a better year than it is projected. We expect an upward revision in the Medium Term Program, he remarked.

The Medium Term Program covering 2011-2013 foresees 4 % increase for the country.


Turkey

with sufficient assurance of a sufficient outlet for the gas to proceed with the $22 billion development of the field's second phase.

Turkey and Azerbaijan to agree on Transanatolian gas pipeline by July
------------------------------------------------------------------------------

It's told by Turkey's energy minister Taner Yildiz that by the end of June Ankara will conclude an agreement with Azerbaijan to set up Transanatolian pipeline to transport gas from the Caspian state's giant Shah Deniz field.

According to Yildiz, the move would provide the consortium managing Shah Deniz gas field with sufficient assurance of a sufficient outlet for the gas to proceed with the $22 billion development of the field's second phase.

Turkey: Saudi businessman to invest 2 billion USD in Bursa

Turkey: Saudi businessman to invest 2 billion USD in Bursa
--------------------------------------------------------------------

Saudi businessman Mohammed Shaman al-Mugherah is set to invest 2 billion US dollars in northwestern of Bursa, in Turkey, as local media reported.

Al-Mugherah requested one million square meters land to build an enormous complex and thermal resorts and 100,000 square meters to construct an automotive spare parts factory. Sahabettin Harput, the Governor of Bursa, said that there were plenty of foreign companies planning to make investments in Bursa. "We will release the development to the public in the coming days.

All those kind of investments are beneficial for Bursa's economy," stated Harput.

China has become Turkey's third biggest trading partner. According to statistics from the Chinese side, the trade volume between China and Turkey increased from some $1 billion in 2001 to nearly $19 billion in 2011, up some 18 times. The Turkish side said the bilateral trade volume hit $24.1 billion in 2011.



------------------------------------------------------------------------



Moody's raises Turkey rating by one notch, outlook position
---------------------------------------------------------------

SYDNEY, June 20 | Wed Jun 20, 2012 1:40am EDT



(Reuters) - Moody's Investors Service on Wednesday raised Turkey's government bond ratings by one notch to Ba1 from Ba2, and maintained its positive outlook on the country.

The agency cited a significant improvement in Turkey's public finances and the resulting increased shock-absorption capacity of the government's balance sheet.

It also noted policy actions that have the potential to address external imbalances, such as the large current account deficit, which is the largest credit risk facing the country.

"Looking ahead, an upgrade to an investment-grade rating will probably be dependent on Turkey becoming more resilient to balance-of-payment shocks, given the already favourable public-finance metrics," Moody's said in a statement.


Moody's raises Turkey rating by one notch, outlook positive | Reuters