Economy of Turkey - External Trade and Investment

External Trade and Investment

As of 2012, the main trading partners of Turkey are Germany, Russia and Iran. Turkey has taken advantage of a customs union with the European Union, signed in 1995, to increase industrial production for exports, while benefiting from EU-origin foreign investment into the country.

Turkey is also a source of foreign direct investment in central and eastern Europe and the CIS, with more than $1.5 billion invested. 32% has been invested in Russia, primarily in the natural resources and construction sector, and 46% in Turkey’s Black Sea neighbours, Bulgaria and Romania. Turkish companies also have sizable FDI stocks in Poland, at about $100 million.

The construction and contracting companies have been significant players, such as Enka, Tekfen, Gama, and Üçgen İnşaat, as well as the three industrial groups, Anadolu Efes Group, ŞişeCam Group and Vestel Group.

The exports reached $115.3 billion in 2007, but imports rose to $162.1 billion, mostly due to the rising demand for energy resources like natural gas and crude oil. Turkey targets exports of $200 billion in 2013, and a total trade of at least $450 billion. There has been a considerable shift in exports in the last two decades. Share of natural gas decreased from 74% in 1980 to 30% in 1990 and 12% in 2005. Share of mid and high technology products has increased from 5% in 1980 to 14% in 1990 and 43% in 2005.

Read more about this topic:  Economy Of Turkey

Other articles related to "external trade and investment, investment, trade":

Agriculture In Turkey - External Trade and Investment
... in 1995, to increase industrial production for exports, while benefiting from EU-origin foreign investment into the country ... Turkey is also a source of foreign direct investment in central and eastern Europe and the CIS, with more than $1.5 billion invested ... Turkey targets exports of $200 billion in 2013, and a total trade of at least $450 billion ...
Economy Of Senegal - Current State of Economy - External Trade and Investment
... Senegal’s new Agency for the Promotion of Investment (APIX) plays a pivotal role in the government’s foreign investment program ... Its objective is to increase the investment rate from its current level of 20.6% to 30% ... or repatriation of capital and income earned, or investment financed with convertible foreign exchange ...

Famous quotes containing the words investment, external and/or trade:

    There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.
    Mark Twain [Samuel Langhorne Clemens] (1835–1910)

    Without free, self-respecting, and autonomous citizens there can be no free and independent nations. Without internal peace, that is, peace among citizens and between the citizens and the state, there can be no guarantee of external peace.
    Václav Havel (b. 1936)

    International relations is security, it’s trade relations, it’s power games. It’s not good-and-bad. But what I saw in Yugoslavia was pure evil. Not ethnic hatred—that’s only like a label. I really had a feeling there that I am observing unleashed human evil ...
    Natasha Dudinska (b. c. 1967)