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Economy of Turkey

Started Nov-15 by Confidus1305; 93 views.

From: Confidus1305


Turkey is considered a developing country. A nation's stage of development is determined by a number of factors, including economic prosperity, life expectancy, income equality, and quality of life. As a developing country, Turkey may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Developing country citizens may have a lower life expectancy than developed country citizens. Every year Turkey exports around $ 167.6 billion and imports around $ 242.9 billion. 11.1% of the country's population are unemployed. The total number of unemployed in Turkey is 9,092,773. In Turkey, 16.9% of the population live below the poverty line. The proportion of citizens living below the poverty line in Turkey is relatively high, but there is no cause for complete concern about investment. Potential financiers should look at other economic indicators, including GDP, rate of urbanization, and currency strength, before making any investment decisions. Government spending on education is 2.6% of GDP. The country's Gini index is 40.2. Turkey is experiencing poor equality. The gap between the richest and poorest citizens of this country is palpable. Turkey has a Human Development Index (HDI) of 0.759. Turkey has a high HDI score. This suggests that the majority of citizens will be able to lead desirable lives while providing significant help and support to citizens with lower living standards. The Global Peace Index (GPI) for Turkey is 2,363. The strength of the Legal Rights Index for Turkey is 3. Overall, it is viewed as rather inadequate - bankruptcy and security laws can protect the rights of borrowers and lenders to a certain extent; Credit information may be sufficient, but hardly available, or, conversely, it may be available but not sufficient.

The currency of Turkey is Turkish lira. There are several plural forms of the name 'Turkish lira'. These are lire, liras. The symbol used for this currency is ?, and it is abbreviated as TRY. The Turkish lira is divided into Kurus; there are 100 in one lira.

Credit rating
The depth of credit information index for Turkey is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Turkey has a credit rating score of BB+, and the prospects of this rating are negative. According to the Fitch credit-rating agency, Turkey has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Turkey has a credit rating score of Baa3, and the prospects of this rating are negative.

Central bank
In Turkey, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of the Republic of Turkey. Locally, the central bank of Turkey is called Türkiye Cumhuriyet Merkez Bankasi. The average deposit interest rate offered by local banks in Turkey is 16.8%.

Public debt
Turkey has a government debt of 35.5% of the country's Gross Domestic Product (GDP), as assessed in 2013.

Tax information
The corporate tax in Turkey is set at 20%. Personal income tax ranges from 15% to 35%, depending on your specific situation and income level. VAT in Turkey is 18%.


The total gross domestic product (GDP), which is valued as purchasing power parity (PPP), is 1.514859 billion US dollars in Turkey. The gross domestic product (GDP), valued as purchasing power parity (PPP) per capita in Turkey, was last measured at 18 million US dollars. PPP in Turkey is considered below average compared to other countries. A below-average PPP indicates that citizens in this country are finding it difficult to buy local goods. Local goods can include groceries, shelter, clothing, health care, personal hygiene, essential home furnishings, transportation and communications, laundry, and various types of insurance. Countries with below average PPPs are dangerous places to invest. The total gross domestic product (GDP) in Turkey is 822.149 billion euros. Based on these statistics, Turkey is considered a large economy. Countries with large economies support a wide variety of industries and companies and offer numerous investment opportunities. Large economies support a sizable financial sector, which makes it easy to organize investments and financial transactions. It should be very easy to find good investment opportunities in Turkey. The gross domestic product (GDP) per capita in Turkey was last measured at 10 million US dollars. The average citizen in Turkey has very little wealth. Countries with very low per capita wealth often have a lower life expectancy and a dramatically lower quality of life for their citizens. In countries with very low wealth, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to get the education needed to specialize in industries. However, compared to countries with higher wealth per capita, workers can be found at very low prices. The annual GDP growth rate in Turkey averaged 3% in 2014. Accordingly, Turkey is currently experiencing modest growth.


From: Wesae233


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