Information Note on Turkish Economy, December 6, 2017

GENERAL OUTLOOK OF TURKEY’S ECONOMY

• In terms of Purchasing Power Parity (PPP), Turkey is the world's 13th and Europe's 5th largest economy. (2016)

• Area : 814.578 km² (Projection: 779.452 km²)

• Population : 79.8 million (2016)

78.7 million (2015)

• Labor Force : 32.233 million (2017, August)

• Unemployment Rate : 11.7% (2017, July)

10.6% (2017, August)

Between 2008 and 2016, 7.3 million new jobs were created.

• GDP : USD 380.7 billion (2017, first half)

USD 857 billion (2016)

• GDP Growth Rate (Fixed Prices):

2015: 6.1%

2016 1^st Quarter: 4.8%

2016 2^nd Quarter: 5.3%

2016 3^rd Quarter: -1.3%

2016 4^th Quarter: 3.5%

2016: 2.9%

2017 1^st Quarter: 5.0%

2017 2^nd Quarter: 5.1%

(The average growth rate between 2011 and 2016 is 6.4%. According to the OECD, with growth rate between the years 2012-2017 and 2018-2030 5.1% and 4.3% respectively, Turkey is expected to be the fastest growing economy among OECD countries.)

• National Income Per Capita: USD 10.883 (2016)

• In terms of Purchasing Power Parity (PPP) USD 24.636 (2016)(According to IMF report on Purchasing Power Parity)

• Inflation : 2002 29.70%

2011 10.45%

2012 6.16%

2013 7.40%

2014 8.17%

2015 8.81%

2016 8.53%

2017 11.87% (April 2017)

2017 11,90% (October 2017)

• Direct foreign capital inflows into the country:

USD 4.8 billion (2017, January-August)

USD 12.3 billion (2016)

USD 17.1 billion (2015)

• Central Bank’s Total Foreign Exchange Reserves: USD 95.481 billion (as of October 27, 2017)

• Export: USD 103.323 billion (2017, January-September)

USD 143 billion (2016)

USD 143.8 billion (2015)

• Import: USD 148.979 billion (2017, January-September)

USD 199 billion (2016)

USD 207.2 billion (2015)

• Trade volume: USD 252.302 billion (2017, January-September)

USD 342 billion (2016)

USD 351 billion (2015)

• Balance of Trade: - USD 45.656 billion (2017, January-September)

- USD 56 billion (2016)

- USD 63.4 billion (2015)

• Export Import Coverage Ratio: 69.4% (2017, January-September)

71.8% (2016)

69.4 (2015)

• Official Development Assistance: USD 3.9 billion (2015)

USD 6.1 billion (2016)

• Banking Sector Capital Adequacy Ratio: 16.87% (2017, August)

15.6 % (2016, December)

• Public Net Debt Stock: TRL 236.8 billion (2017, 2^nd quarter)

• Agreements on Avoidance of Double Taxation and Prevention
  of Fiscal Evasion with 83 countries,

• Agreement on Reciprocal Encouragement and Protection of Investments
  with 76 countries,
  

• 19 Free Trade Agreements (with 18 countries and EFTA) in force.

• Tourism: 41.6 million visitors; USD 31.5 billion tourism income (2015)

31.3 million visitors; USD 22.1 billion tourism income (2016)

26 million visitors; USD 20.1 billion tourism income (2017, January-September)