Turkey Economy

Turkey’s economy really started to improve when President Erdogan and his AKP-party got the power in 2002. Lots of new constructions and new roads were made and the standard of living increased. In 2002, Turkey had a gross domestic product of $ 3,600 per inhabitant and in 2013, it had almost tripled to $ 11,000. Therefore has AKP been a security symbol for many Turks for a long time.

Turkey is also a big export country. The most exported gods are vehicle parts, cars, delivery trucks, raw iron bars, jewelry, clothes, and textile.
But, the growth has stagnated and it not growing as much as before and as much as Turkey was hoping for. 2016 was a dark year for Turkey with several terrorist attacks who scared away a lot of the tourists. President Erdogan’s attempt to restrict freedom of the press by trying to close Twitter and Facebook made a lot of foreign investors to hesitate to invest in Turkey.
However, the situation in Turkey is now calm and back to normal and the tourists and investors are returning, giving a positive push on the economy. Several travel agencies are already now in February 2018 reporting about huge increases in booking to Turkey, especially from Scandinavia, England and, Germany. Also, more and more Arabic tourists are coming to Turkey.
The country is every day, working hard to clear its name from the terrorist associations. On the streets you often see both/or polis, Jandarma (military polis), and Zabita (security personal arranged by the local municipality) working to eliminate any problems that might accrue.
Turkey has a positive outlook for the future and is planning huge construction projects like the world’s biggest airport, the world’s biggest mosque, and a new presidential palace.

So, Turkey had a big challenge during 2016 and 2017 but is recovering nicely, and is still focused on being one of the 10 biggest economies in the world by 2023.


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