Turkey PESTLE Insights – A Macroeconomic Outlook Report

According to MarketLine estimates, mining, manufacturing and utilities activities contributed 30.2% towards GVA, followed by wholesale, retail and hotels activities (26.7%), and financial intermediation, real estate and business activities (12.6%) in 2022. The three sectors are forecast to grow by 48%, 44.2%, and 44.9%, respectively, in 2023.

Five major cities in Turkey generated around 52.8% of the country’s GDP in 2022 and were home to 37.4% of the country’s population in 2022

Scope

In April 2022, the Turkish government unveiled a 30-year infrastructure strategy, in which it aims to invest $197.9 billion in rail, road, air, and maritime infrastructure

Reasons to buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.

Companies mentioned

Turkish Airlines

Nirvana

AKBank

Table of Contents

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

List of Tables

Exhibit 1: Turkey's performance in country risk analysis in comparison to East Europe and World average

Exhibit 2: Performance overview (score: 1–100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Turkey’s Stock Exchange Index – XU100 Index (June 2022 – June 2023)

Exhibit 5: Turkey exchange rate (June 2022 – June 2023)

Exhibit 6: Key sectors’ contribution to the economy

Exhibit 7: FDI inflows and FDI by sector (Q1 2022–Q2 2023)

Exhibit 8: FDI inflows by country and FDI inflows share by region (Q1 2022–Q2 2023)

Exhibit 9: Key infrastructure indicators

Exhibit 10: Real GDP and household consumption growth rate (2018–25f)

Exhibit 11: Real GDP growth rate comparison (2022)

Exhibit 12: Exports and imports growth (2018–25f)

Exhibit 13: Current account balance (2018–25f)

Exhibit 14: Top three commodity exports, % of total exports (2019–22)

Exhibit 15: Vehicles other than railway or tramway rolling stock, and parts and accessories thereof, % share of the world’s total (2022)

Exhibit 16: Interest rates (June 2018 – June 2023)

Exhibit 17: Exchange rate and inflation (2018–25f)

Exhibit 18: General government net lending/borrowing (2018–25f)

Exhibit 19: General government debt (2018–25f)

Exhibit 20: Employed population and unemployment rate (2018–25f)

Exhibit 21: Average annual wages (2018–25f)

Exhibit 22: Labor index cost (2018–25f)

Exhibit 23: Rural-urban share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 25: Gender split (1995, 2005, 2015, 2025)

Exhibit 26: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022)

Exhibit 27: Number of patents granted per million population (2021)

Exhibit 28: High technology exports, % of manufactured exports (2021)

Exhibit 29: Rule of law (rankings), 2022

Exhibit 30: Corruption perceptions index (rankings) (2022)

Exhibit 31: Renewable energy capacity (2018–22)

Exhibit 32: CO2 emissions (2017–21)

List of Figures

List of Figures

Exhibit 1: Turkey’s performance in terms of its country risk analysis in comparison to East Europe and the world average

Exhibit 2: Performance overview (Score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Istanbul Stock Market Index – XU100

Exhibit 5: Key sectors contribution to the economy (2017-24f)

Exhibit 6: FDI inflows in Turkey (Q1 2021-Q2 2022) and FDI by sector (Q1 2021-Q2 2022)

Exhibit 7: FDI inflows by country and FDI inflows share by region (Q1 2021-Q2 2022)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate (2017-24f)

Exhibit 10: Real GDP growth rate comparison (2021)

Exhibit 11: Exports and imports volume growth (2017-24f)

Exhibit 12: Current account balance (2017-24f)

Exhibit 13: Top three commodity exports, % of total exports (2018-2021)

Exhibit 14: Electrical machinery and equipment, % share in world’s total exports, 2021

Exhibit 15: Interest rates (June 2017-June 2022)

Exhibit 16: Exchange rate and inflation (2017-24f)

Exhibit 17: General government net lending/borrowing (2017-24f)

Exhibit 18: General government debt (2017-24f)

Exhibit 19: Unemployment (2017-24f)

Exhibit 20: Average annual wages (2017-24f)

Exhibit 21: Labor cost index (2017-24f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025)

Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Gender split (1995, 2005, 2015, 2025)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2021)

Exhibit 26: Number of patents granted per million population (2021)

Exhibit 27: High-technology exports (% of manufactured exports) (2020)

Exhibit 28: Doing business in Turkey, 2020

Exhibit 29: Corruption perception index (rankings) (2021)

Exhibit 30: CO2 emissions (2017-21)

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