About Turkey

About Turkey

About turkey

Located at the intersection point of Central Asia, Middle East, Africa and Europe, Turkey reaches to the boundaries of the European Union on one hand, Iraq and Russia on the other hand, while opening out to the entire world through the Mediterranean and Black Sea.

Turkey, with her young population of 80 million and GDP of 851 billion USD is the 17th biggest economic power in the world. Turkey with its dynamic market successfully integrated into the global economy Turkey is an ‘economy of production’, intending to achieve economic growth by relying on her entrepreneurial power and human resources. Another significant characteristic of the Turkish economy is its ability to perform such activities while being a member of Customs Union and World Trade Organization, i.e. in a competitive market without any protective measures.

Snapshot
Official Name of Country Republic of Turkey
Capital City Ankara
Government Presidential System of Government
Population 80.8 million (2017)
Labor Force (Population) 31.6 million (2017)
Median Age 31.7 (2017)
Official Language Turkish
President Recep Tayyip Erdoğan
Area 783,562.38 km²
Coordinates 39° 55' North, 32° 50' East
Time Zone GMT +2
Neighboring Countries Bulgaria, Greece, Syria, Iraq, Iran, Azerbaijan, Armenia, Georgia
Major Cities (Population) Istanbul (15.0 million), Ankara (5.4 million), Izmir (4.3 million), Bursa (2.9 million), Antalya (2.4 million) (2017)
Climate Temperate; hot, dry summers with mild, wet winters
Telephone Code +90
Country Code Top-Level Domain .tr
Electricity Voltage 220 V, 50 Hz
Currency Turkish Lira (TRY)
Financial Center Istanbul
GDP USD 851 billion (2017-Current Prices)
GDP Per Capita USD 10,597 (2017)
Exports Value USD 157 billion (2017)
Imports Value USD 234 billion (2017)
Tourism Revenue USD 26.3 billion (2017)
Tourist Number 32.1 million (2017)
Foreign Direct Investment USD 10.9 billion (2017)
Number of Companies with Foreign Capital 58,418 (2017)
Inflation Rate 11.9% (CPI-2017)
Major Exports Markets Germany (9.6%); UK (6.1%); UAE (5.8%); Iraq (5.8%); USA (5.5%); Italy (5.4%); France (4.2%); Spain (4.0%); Netherlands (2.5%) Israel (2.2%) (2017)
Major Imports Sources China (10.0%); Germany (9.1%); Russia (8.3%); USA (5.1%); Italy (4.8%); France (3.5%); Iran (3.2%); Switzerland (3.0%); South Korea (2.8%); UK (2.8%) (2017)
Trade Agreements Customs Union Agreement with the EU, Free Trade Agreements with Albania, Bosnia Herzegovina, Chile, EFTA member countries (Switzerland, Norway, Iceland and Liechtenstein),Faroe Islands, Ghana, Kosovo, Lebanon, Egypt, Georgia, Israel, Jordan, Singapore, South Korea, Syria, Macedonia, Malaysia, Mauritius, Moldova, Montenegro, Morocco, Palestine, Serbia, Sudan, Tunisia
Traffic Flow Right

Investment Support and Promotion Agency (ISPAT) | Turkish Exporters Assembly (TiM)