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06 .1 1 .2012

“ECONOMIC REVIEW AND TURKEY’S TRADE WITH FINLAND”. 06 .1 1 .2012. Embassy of Turkey, Office of the Commercial Counsellor. 1. FOREIGN TRADE OUTLOOK. * TURKEY AT A GLANCE * TURKISH ECONOMY IN THE WORLD * FOREIGN TRADE DEVELOPMENTS OF TURKEY * TRADE WITH FINLAND.

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06 .1 1 .2012

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  1. “ECONOMIC REVIEW AND TURKEY’S TRADE WITH FINLAND” 06.11.2012 Embassy of Turkey, Office of the Commercial Counsellor 1

  2. FOREIGN TRADE OUTLOOK * TURKEY AT A GLANCE * TURKISH ECONOMY IN THE WORLD * FOREIGN TRADE DEVELOPMENTS OF TURKEY * TRADE WITH FINLAND Embassy of Turkey, Office of the Commercial Counsellor 2

  3. TURKEY AT A GLANCE; STORY OF ONE OF THE FASTEST DEVELOPING DEMOCRATIC COUNTRIES IN THE WORLD... Embassy of Turkey, Office of the Commercial Counsellor 3

  4. MEMBERSHIP TO INTERNATIONAL ORGANIZATIONS MEMBER OF THE WTO MEMBER OF THE ORGANIZATION OF ISLAMIC CONFERENCE CUSTOMS UNION WITH THE EUROPEAN UNION TURKEY MEMBER OF THE NATO MEMBER OF THE OECD FOUNDING MEMBER OF THE ORGANIZATION OF BLACK SEA ECONOMIC COOPERATION FOUNDING MEMBER OF THE ECONOMIC COOPERATION ORGANIZATION FREE TRADE AGREEMENTS WITH THE EFTA & THE CEE COUNTRIES Embassy of Turkey, Office of the Commercial Counsellor 4

  5. TURKISH ECONOMY IN THE WORLD... Embassy of Turkey, Office of the Commercial Counsellor 5

  6. TEXTILES INDUSTRY AS TURKEY IS 3RD LARGEST TEXTILES SUPPLIERIN THE EU MARKET AND 4THHOME TEXTILES EXPORTER IN THE WORLD. Embassy of Turkey, Office of the Commercial Counsellor 6

  7. SOCK TURKEY IS RANKED AS THE 2nd BIGGEST SOCK MANUFACTURER IN THE WORLD. Embassy of Turkey, Office of the Commercial Counsellor 7

  8. COTTON TURKEY IS RANKED AS THE 7th BIGGEST COTTON PRODUCER IN THE WORLD. Embassy of Turkey, Office of the Commercial Counsellor 8

  9. AGRICULTURAL PRODUCTS HAZELNUT, CHERRY AND APRICOT PRODUCTION FIG AND QUINCE PRODUCTION BIGGEST IN THE WORLD 2ND IN THE WORLD 9 Helsinki Ticaret Müşavirliği

  10. AGRICULTURAL PRODUCTS PASTA PRODUCTION WHEAT FLOUR EXPORT 5TH IN THE WORLD2ND IN EUROPE BIGGEST IN THE WORLD 10 Helsinki Ticaret Müşavirliği

  11. CEMENT PRODUCTION 4th in the World 1stin the Europe Embassy of Turkey, Office of the Commercial Counsellor 11

  12. IRON AND STEEL NATURAL STEEL PRODUCTION10th in the World 4th in Europe REBAR EXPORT 1st in the World Embassy of Turkey, Office of the Commercial Counsellor 12

  13. GLASS INDUSTRY GLASS PRODUCTIONTURKEY ACCOUNTS FOR 8 % OF WORLD GLASS PRODUCTION GLASSWARE EXPORTS 3RD IN EUROPE 4TH IN THE WORLD 13 Embassy of Turkey, Office of the Commercial Counsellor

  14. CERAMIC WORLD CERAMICPRODUCTION 9TH WORLD CERAMIC EXPORTS 4TH 14 Embassy of Turkey, Office of the Commercial Counsellor

  15. ELECTRONICS TURKISH TELEVISION INDUSTRY RANKS 2ND IN THE EUROPEAN MARKET. TURKISH HOME APPLIANCES INDUSTRY RANKS 4TH IN THE EUROPEAN MARKET. Embassy of Turkey, Office of the Commercial Counsellor 15

  16. CAR AND BUS PRODUCTION CAR 18th in the World 8th in Europe BUS 9th in the World 2nd in Europe Embassy of Turkey, Office of the Commercial Counsellor 16

  17. TRANSPORTATION VEHICLES AND TRUCK PRODUCTION Transportarion Vehicles 16th in the World 7th in the Europe TRUCK 24th in the World 10th in Europe Embassy of Turkey, Office of the Commercial Counsellor 17

  18. JEWELRY TURKEY IS ONE OF THE TOPFIVE COUNTRIES IN TERMS OFWORLD’S GOLD JEWELRY PRODUCTION Embassy of Turkey, Office of the Commercial Counsellor 18

  19. Turkish Airlines Turkish Airlines is the 4th largest airlines in Europe in terms of the number of passengers carried. Embassy of Turkey, Office of the Commercial Counsellor 19

  20. TOURISM POTENTIAL of TURKEY 7TH BIGGEST TOURIST DESTINATION IN THE WORLD IN 2011 MORE THAN 31,4 MILLION TOURISTS VISITED TURKEY INCREASED 26 TIMES 1980 1.2 Million Embassy of Turkey, Office of the Commercial Counsellor 20

  21. Tourism Statistics (Quarterly) Tourists visited, Source: TURKSTAT • Turkey ranks as the 7th in the world and the 5th in Europe among the most favourite tourism destinations. • Turkey’s income per tourist increased by 18% in 2010 and 1% in 2011. Embassy of Turkey, Office of the Commercial Counsellor 21

  22. In 2002, 3 billion dollars. In 2010,9.6 billion dollars. R&D expenditures increased by 218 % between 2002 and 2010 Turkey: R&D Expenditures (Current PPP, USD) Source: OECD, Main Science and Technology Indicators Embassy of Turkey, Office of the Commercial Counsellor 22

  23. In 2002, 28,964 people. In 2010,81,792 people. Number of R&D personnel increased by 182 % between 2002-2010 Turkey: Number of FTE* R&D Personnel (*)Full Time Equivalent Source: OECD, TURKSTAT, TUBİTAK Embassy of Turkey, Office of the Commercial Counsellor 23

  24. Constructing Services Abroad Contributions to the overall economic performance: Creating foreign exchange inflow, exports, employment, technology transfer; adding to the machinery stock, facilitating internationalization • 31 out of the world’s top 225 constructing companies are Turkish. • Turkey ranks as the 2nd country (following China) in terms of the number of top constructing companies. Embassy of Turkey, Office of the Commercial Counsellor 24

  25. Logistics • Europe’s biggest truck fleet • (45 thousands trucks and 1,420 companies) • Almost 1 million flights in 2011 • (2.3 million tonnes freight and 117 million passengers) • 25. biggest fleet in the world • 45 airports and 51 ports • Total length of divided highways will reach 15 thousand kilometers. • High-speed railway projects are carried out rapidly. Embassy of Turkey, Office of the Commercial Counsellor 25

  26. Energy • Turkey is an energy hub between energy producer and consumer regions Embassy of Turkey, Office of the Commercial Counsellor 26

  27. Investment Climate in Turkey Embassy of Turkey, Office of the Commercial Counsellor 27

  28. Time Required to Start a Business Source: Invest In Turkey • The required time to start a business is 6 days in Turkey. Embassy of Turkey, Office of the Commercial Counsellor 28

  29. Skilled Labour Availability Source: Invest In Turkey • Scoring is between 0 and 10. Embassy of Turkey, Office of the Commercial Counsellor 29

  30. Transparency in Finance Sector Source: Invest In Turkey Embassy of Turkey, Office of the Commercial Counsellor 30

  31. World’s Biggest Economies Turkey is 16th biggest GDP based on Purchasing Power Parity, Trillion Dolar, 2011 Source: IMF, World Economic Outlook, April 2012 Embassy of Turkey, Office of the Commercial Counsellor 31

  32. Europe’s Biggest Economies Europe’s Biggest Economies (GDP based on Purchasing Power Parity, Trillion Dolar, 2011) * In 2011, Turkey has been again the 6th biggest economy in Europe. Source: IMF, World Economic Outlook, April 2012 Embassy of Turkey, Office of the Commercial Counsellor 32

  33. Real GDP Growth of Selected Countries/Country Groups (2011) Source: TURKSTAT, IMF • Turkish Economy expanded by 8,5% in 2011, which was well beyond the expectations of the IMF (7.5%). Source: IMF, World Economic Outlook, April 2012 Embassy of Turkey, Office of the Commercial Counsellor 33

  34. GNP Per Capita of Turkey (US $)

  35. Growth Forecasts for Selected Countries/Country Groups (%) Source: IMF, OECD, UN, WB • According to the IMF, Turkish Economy is expected to grow by 2.3% in 2012. • In the first two quarters of 2012, Turkish economy grew by 3,2% and 2,9% respectively, resulting in an average growth of 3,05% in the first half of 2012 Embassy of Turkey, Office of the Commercial Counsellor 35

  36. Comparison of Europe and Turkey:Real GDP Growth (2001=100) Embassy of Turkey, Office of the Commercial Counsellor 36

  37. Foreign Direct InvestmentInflows (Billion USD) Source: CBRT 37 Embassy of Turkey, Office of the Commercial Counsellor

  38. EU Defined Budget Deficit/ GDP (%) • EU defined general government budget deficit/GDP ratio was 2.6% in Turkey in 2011 and Turkey satisfied the Maastricht criteria of 3%. Turkey also outperformed 18 EU Countries. • Central government budget deficit/GDP ratio was 1.3% in Turkey in 2011 and Turkey outperformed 23 EU Countries. • In January-August 2012, central government budget deficit has increased to 8.5 billion dollars. Embassy of Turkey, Office of the Commercial Counsellor 38

  39. Investment Incentive System • The current investment incentive system of Turkey is structured in four sub systems: • General Investment Incentive System • Regional Investment Incentive System • Investment Incentive System for Big Scale Projects • Incentives for Strategic Investments Embassy of Turkey, Office of the Commercial Counsellor 39

  40. The Advantages of Free Zones for Users • Tax advantages for manufacturers • Medium-and long-term investment view • Availability to transfer profits • Commercial facilities • Exemptiın from customsduties • Acquisition of the documents relating to the free movement of goods under the scope of Customs Union with the EU • Principle of equality • No time restrictions • Flexibility to adjust to the market needs and conditions • Reliable inflation accounting • Market access to domestic and foreign markets • Reduced bureaucraticprocedures and dynamicbusinessmanagement • Strategic advantages. • Affordable and compatible infrastructure • Supply chain opportunities Embassy of Turkey, Office of the Commercial Counsellor 40

  41. Free Zones in Turkey • 54,022 people have been employed in Free Zones of Turkey in 2011. Embassy of Turkey, Office of the Commercial Counsellor 41

  42. Trade Flows of Free Zones *January-July Source: General Directorate of Free Zones, Foreign Investments and Services • In January-July 2012 total trade volume of the Free Zones reached to 13,5 billion dollars, increasing 9,1% annually. Embassy of Turkey, Office of the Commercial Counsellor 42

  43. Concentration in Free Zones by Industries Source: General Directorate of Free Zones, Foreign Investments and Services Embassy of Turkey, Office of the Commercial Counsellor 43

  44. FOREIGN TRADE DEVELOPMENTS OF TURKEY... Embassy of Turkey, Office of the Commercial Counsellor 44

  45. Exports by Regions Source: TURKSTAT Embassy of Turkey, Office of the Commercial Counsellor 45

  46. Imports by Regions Source: TURKSTAT Embassy of Turkey, Office of the Commercial Counsellor 46

  47. Annual Exports (Billion USD) Source: TURKSTAT Embassy of Turkey, Office of the Commercial Counsellor 47

  48. Exports Targets (FOB, Billion USD) Source: Ministry of Development, Medium Term Economic Programme 2012-2014, October 2011 Embassy of Turkey, Office of the Commercial Counsellor 48

  49. Foreign Trade Developments 2010 - 2011 / 2011-2012 January-August * Energy corresponds to Chapter 27. Source:Ministry of Economy • In January- August 2012 compared to the same period of the previous year, exports increased by %12,8 and imports decreased by %2,4 respectively. Embassy of Turkey, Office of the Commercial Counsellor 49

  50. Monthly Exports • In August 2012 compared to August 2011 exports have increased by 14,5% and reached to the level of 12,9 and imports have decreased by 4,8%up to the level of 18,7 billion dollar. Embassy of Turkey, Office of the Commercial Counsellor 50

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