It was announced by Deputy Prime Minister Ali Babacan that Moody’s had upgraded Turkey’s credit rating to investment grade, yesterday. First comments came from Ali Babacan and Economy Minister Zafer Çağlayan who expressed this move was long due. Turkey raised hopes again to attract more foreign funds when Moody's raised Turkey's long-term credit rating by one notch to "Baa3," the bottom of investment grade ...

Turkish Statistical Institution has revealed that Turkey’s tourism revenues wnet up toUS$5 billion in the first quarter of the year, with a 38.6 percent increase on the previous year. It reported that this promising development is due to the increase in tourist numbers by 18.7 percent, surpassing 5 million in total in three months. Revenues have surged due to a sharp increase in tourists as well as their in ...

Turkish Statistical Institute has published a report to cover unemployment in Turkey. The report goes as follows; Number of unemployed persons increased by 226 thousand persons in the period of January 2013 (1) and has reached to 2 million 890 thousand persons in Turkey. Unemployment rate realized as 10.6% with 0.4 percentage points increase. Non-agricultural unemployment rate was realized as 12.9% with 0.5 ...

The Turkish Statistical Institute has published a report about poultry in Turkey. The sector has taken some big steps in last decades and is equipped with update technology. White meat consumption in the country is not satisfactory yet, as Turks often prefer to eat red meat. The report about the performance of the industry is below; Hen egg production was 1.3 billion units Hen egg production decreased 7.7% ...

In w/c April 8th, while investors made profit in the stock market, dollar and commodities lost value. The profit Borsa Istanbul (Bist) provided for its investors stood at an average of 3,06 percent. The selling price of 24-carat gold bullion fell down to 88.50 pounds showing a decrease of 2,43 percent. Following the announcement of Credit rating agency Moody’s last week, which said the process of solving th ...

Industrial Turnover Index in February 2013 increased by 4.9% compared with the same month in previous year. In the sub sectors level of industry, mining and quarrying index decreased by 4.2%, manufacturing index increased by 5.3% in February 2013 compared with same month of the previous year. Industrial Turnover Index and the Rate of Change (2010=100), February 2013 According to Main Industrial Groupings (M ...

Turkish Statistical Institute (TUIK) has revealed Foreign Trade figures for February 2013. The overall import unit value indices increased by 1.2% in February 2013 as compared to the corresponding month of the preceding year, calculated according to the provisional foreign trade data with 2010 as base year. In the same month, compared to February 2012, while the export unit value index for food, beverages a ...

Credit rating agency Moody's has made a declaration saying “the settlement process for Turkey's Kurdish issue is a positive development for the country's credit rating”. Moody's, which currently rates Turkey at Ba1 with a positive outlook, said the government's agreement to form a parliamentary investigative commission to evaluate the process was a "visible and credit-positive step" in its progress toward e ...

Consumer Price Index, March 2013 Monthly change in Consumer Price Index (CPI) was realised by 0.66% A rise in general index was realised in CPI (2003=100 based) on the previous month by 0.66%, on December of the previous year by 2.63%, on same month of the previous year by 7.29%, on the twelve months moving averages basis by 8.08% in March 2013. The highest monthly increase was 2.04% in food and non-alcohol ...

Data pertaining to foreign trade performance of Turkey were released by Turkish Statistical Institute as below; Exports increased by 5.8% in February According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in February 2013; exports increased by 5.8% and reached to 12 435 Million Dollars and imports increased by 9% and reach ...

It was announced by Turkish Statistics Institute on Monday February 4th that the monthly change in Consumer Price Index (CPI) had occurred as 1.65%, in January 2013. A rise of 1.65 percent was recorded in CPI (2003=100 based) as compared to the previous month, in January 2013 against a market expectation of about 1.1 percent. This increase is calculated to be 8.62 percent based on 12 months moving averages. ...

According to the report circulated by Turkish Statistics Institute tourism income increased by 17.2% compared to IV. quarter of previous year In the fourth quarter; which is October, November and December months of 2012, tourism income increased by 17.2% and reached $ 6 107 152 thousand. While 75.1% of this income was obtained from foreign visitors, 24.9% was obtained from citizens resident abroad. Visitors ...

The statistical data regarding exports and imports for December 2012 was released by the Turkish Statistical Institute on 31st January 2013. Based on said report exports increased by 1.4 % to reach 12 646 Million Dollars and imports decreased by 3.7 % go down to reached to 19 825 Million Dollars as compared to December 2011. In the same month, foreign trade deficit decreased from 8 116 Million Dollars to 7 ...

Following a truly successful performance in 2012, Central Bank Governor Erdem BASCI made a press meeting where he revealed important economic figures for the current year. BASCI said that the inflation rate for 2013 was forecasted to ocur between 3.9-6.7 and they expected core inflation to stay under five percent by the end of 2013. As expressed by the governor, the highest risk in 2013 would be economy pol ...

Minister Mehmet Simsek revealed the results of the 2012 budget at a press conference on 15th January 2013. The Minister appraised the performance of the economy administration and emphasized the following important points; After a long while, a growth below potential occurred in 2012. Risks in the global economy began to decline. The economy began to decline in the last quarter of 2011 and started to slow d ...

At a meeting of monetary and exchange rate policy for 2013 Governor Başçı, announced plans for the future. Chairman of the Central Bank gave information about their expectations of inflation and growth and he announced their inflation forecast for 2015, officially. In the press conference aimed to explain Monetary and Exchange Rate Policy for 2013, Central Bank Governor Erdem Başçı said the main objective o ...

Employment figures were announced by TUIK (Turkish Statistics Institute) on 17th December 2012. Employment Statistics - September 2012 Working age population increased by 1 million 91 thousand in the period of September 2012 compared to the same period of the previous year While non-institutional population increased by 1 million 170 thousand persons and has reached to 73 million 795 thousand persons, non-i ...

Turkey's gross domestic product growth in the third quarter was announced as 1.6 percent, by Turkish Statistics Authority (TÜİK) today. It is noteworthy that this figure was far below the market expectation (which was around 3 percent). The growth in the third quarter of last year was 8.2 percent. Down below are the results revealed by the authority. (BTT) ...

OUTLINE OF TURKEY ECONOMY REPORT - DECEMBER 2012 We believe the data down below would be convenient to provide an opinion for anyone who would like to have a swift look at what has been happening in the Turkish economy, on a monthly basis. September industrial production index increased by 6.2% compared to the same month of the previous year. The increase in the index, which was the highest since November 2 ...

Inflation results for November 2012 were announced by TUIK. CONSUMER PRICE INDEX, NOVEMBER 2012 Monthly change in CPI was realised by 0,38%. A rise in general index was realised in the 2003 based Consumer Price Index on the previous month by 0,38%, on December of the previous year by 5,76%, on same month of the previous year by 6,37%, on the twelve months moving averages basis by 9,26% in November 2012. The ...

The report released by Turkish Statistical Institute has announced that foreign trade deficit in Turkey decreased by %31,2 in October 2012. Turkish government has been doing its utmost to improve foreign trade figures and balance between imports and exports. Within this framework we understand positive results are being achieved and Turkey can look at the future in a more confident way in terms of a healthy ...

On October 9th, the Medium Term Program (MTP) covering 2013-2015 period was announced in Turkey. The program, which sets out the Government’s plan for the macroeconomic framework throughout the next three years and also comprises 2012 year-end forecasts of main macroeconomic indicators, is prepared mainly under the assumption of a persistent presence of the downward risks surrounding the world economy. Duri ...

Long awaited good news came yesterday when financial accreditation agency Fitch upgraded Turkey's economic outlook from BB+ to BBB-. Turkish business environment had been long expecting Fitch to make this announcement as Turkey is now in a much better economic situation as compared to earlier and in spite of the negative global conditions prevailing in the world. This new position says that Turkey is a suit ...