Names: conventional long form: Republic of Turkey conventional short form: Turkey local long form: Turkiye Cumhuriyeti local short form: Turkiye
Capital City: Ankara
Population: 70,413,958 (July 2006 est.)
GDP Per Capita: $8,900 (2006 est.)
Currency: Turkish lira (YTL); old Turkish lira (TRL) before 1 January 2005
Languages: Turkish (official), Kurdish, Dimli (or Zaza), Azeri, Kabardian note: there is also a substantial Gagauz population in the Europe part of Turkey
Total Area: total: 780,580 sq km land: 770,760 sq km water: 9,820 sq km slightly larger than Texas
Region: Asia
Industries: textiles, food processing, autos, electronics, mining (coal, chromite, copper, boron), steel, petroleum, construction, lumber, paper
Agriculture: tobacco, cotton, grain, olives, sugar beets, pulse, citrus; livestock
Resources: coal, iron ore, copper, chromium, antimony, mercury, gold, barite, borate, celestite (strontium), emery, feldspar, limestone, magnesite, marble, perlite, pumice, pyrites (sulfur), clay, arable land, hydropower
Labor Force:
24.8 million note: about 1.2 million Turks work abroad (2006 est.)
agriculture: 35.9% industry: 22.8% services: 41.2% (3rd quarter)
Exports:
$85.21 billion f.o.b. (2006 est.)
apparel, foodstuffs, textiles, metal manufactures, transport equipment
Imports:
$120.9 billion f.o.b. (2006 est.)
machinery, chemicals, semi-finished goods, fuels, transport equipment
Overview:
Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for more than 35% of employment. It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The largest industrial sector is textiles and clothing, which accounts for one-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. However, other sectors, notably the automotive and electronics industries, are rising in importance within Turkey's export mix. Real GNP growth has exceeded 6% in many years, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, and 2001. The economy is turning around with the implementation of economic reforms, and 2004 GDP growth reached 9%, followed by roughly 5% annual growth in 2005-06. Inflation fell to 7.7% in 2005 - a 30-year low, but climbed back to 9.8% in 2006. Despite the strong economic gains in 2002-06, which were largely due to renewed investor interest in emerging markets, IMF backing, and tighter fiscal policy, the economy is still burdened by a high current account deficit and high debt. The public sector fiscal deficit exceeds 6% of GDP - due in large part to high interest payments, which accounted for about 37% of central government spending in 2004. Prior to 2005, foreign direct investment (FDI) in Turkey averaged less than $1 billion annually, but further economic and judicial reforms and prospective EU membership are expected to boost FDI. Privatization sales are currently approaching $21 billion. Oil began to flow through the Baku-Tblisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 billion barrels per day from the Caspian to market.
In 2007 Missouri exported $32,455,692 in goods to Turkey. This ranks Turkey 48th among the 223 international buyers of Missouri goods. Missouri exports to Turkey increased from the previous year by $4,587,593 a change of 16.46%. State exports to Turkey have increased over the last 5 years by $25,572,503 a change of 371.52%. Missouri exports account for .24%. of all 2007 US exports to Turkey.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 6,883,189 | 10,827,621 | 15,813,068 | 15,443,161 | 27,868,099 | 32,455,692 | |
| 000 - Total All Industries US | 3,106,642,104 | 2,904,305,397 | 3,361,057,798 | 4,274,011,194 | 5,729,587,355 | 6,585,654,081 | |