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Turkey

The Turkish economy showed sluggish healing signs in 2019 after experiencing an economic crisis in the second half of 2018, against a backdrop of a currency crisis. Private and public usage rose in 2019 in the middle of credit growth and expansionary fiscal policy.

Turkey

The Turkish economy showed sluggish healing signs in 2019 after experiencing an economic crisis in the second half of 2018, against a backdrop of a currency crisis. Private and public usage rose in 2019 in the middle of credit growth and expansionary fiscal policy. In contrast, the Turkish lira recuperated some of its worth against major international currencies after striking record lows in August 2018. Consumer confidence and getting managers’ index recovered to pre-2018 levels. Development was approximated to have balanced a simple 0.9% in 2019, according to the IMF – against 2.8% in 2018. According to the upgraded IMF forecasts from 14th April 2020, due to the outbreak of the COVID-19, GDP development is anticipated to fall to -5% in 2020 and pick up to 5% in 2021, subject to the post-pandemic worldwide economic healing.

Primary industries in Turkey: agriculture, tourism and manufacturing.

33.

Easyness of doing business

60.

Expat friendly ranking

150.

Global peace index

Top 5 Export Countries

  • Germany ($16.6B)

  • United Kingdom ($11.9B)

  • Italy ($10.1B)

  • United States ($8.57B)

  • Iraq ($8.35B)

Top 5 Import Countries

  • Germany ($22.1B)

  • China ($19.2B)

  • Russia ($15.9B)

  • United States ($10.6B)

  • Italy ($10.4B)

Top 5 Export Industries

  • Cars ($12.9B)

  • Delivery Trucks ($5.38B)

  • Vehicle Parts ($4.63B)

  • Jewellery ($4.29B)

  • Crude Petroleum ($3.65B)

Top 5 Import Industries

  • Refined Petroleum ($12.4B)

  • Gold ($11.3B)

  • Scrap Iron ($6.47B)

  • Vehicle Parts ($6.45B)

  • Cars ($6.11B)

To make things simple and neat, we have bundled company set-up procedures for you

Fundamental

395
  • Support for obtaining trade license for freelancers
  • Virtual office address for the first 12 months

Essential

950
  • Limited liability company formation
  • Virtual office address for the first 12 months

Comprehensive

1,850
  • Everything that is available in the Essential Bundle
  • + Monthly accounting and annual financial closing for the first year

Consultation

45 / 50 minutes
  • Concierge services
  • Information and advice

Resources