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Country Report Turkey May 2011
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HTMLData and charts: Annual data and forecast
| 2006a | 2007a | 2008a | 2009a | 2010a | 2011b | 2012b | ||
| GDP | ||||||||
| Nominal GDP (US$ m) | 530,917 | 647,140 | 730,325 | 614,570 | 735,340 | 763,754 | 836,261 | |
| Nominal GDP (TL m) | 758,391 | 843,178 | 950,534 | 952,559 | 1,105,101 | 1,194,366 | 1,338,380 | |
| Real GDP growth (%) | 6.9 | 4.7 | 0.7 | -4.8 | 8.9 | 4.6 | 4.8 | |
| Expenditure on GDP (% real change) | ||||||||
| Private consumption | 4.6 | 5.5 | -0.3 | -2.3 | 6.6 | 6.3 | 5.8 | |
| Government consumption | 8.4 | 6.5 | 1.7 | 7.8 | 2.0 | 5.0 | 4.0 | |
| Gross fixed investment | 13.3 | 3.1 | -6.2 | -19.0 | 29.9 | 18.5 | 9.0 | |
| Exports of goods & services | 6.6 | 7.3 | 2.7 | -5.0 | 3.4 | 3.8 | 3.8 | |
| Imports of goods & services | 6.9 | 10.7 | -4.1 | -14.3 | 20.7 | 18.1 | 10.1 | |
| Origin of GDP (% real change) | ||||||||
| Agriculture | 1.4 | -6.7 | 4.3 | 3.6 | 1.6 | 1.0 | 0.5 | |
| Industry | 10.2 | 5.8 | -1.3 | -8.6 | 13.6 | 4.5 | 4.0 | |
| Services | 6.0 | 6.1 | 1.6 | -3.3 | 6.9 | 5.4 | 6.1 | |
| Population and income | ||||||||
| Population (m) | 70.4 | 71.2 | 71.9 | 72.6 | 73.3c | 74.0 | 74.7 | |
| GDP per head (US$ at PPP) | 11,714c | 12,490c | 12,716c | 12,092c | 13,171c | 13,862 | 14,780 | |
| Recorded unemployment (av; %) | 10.3 | 10.3 | 11.0 | 14.1 | 12.0 | 11.8 | 8.7 | |
| Fiscal indicators (% of GDP) | ||||||||
| Central government revenue | 22.9 | 22.6 | 22.1 | 22.6 | 23.0 | 23.5 | 23.1 | |
| Central government expenditure | 23.5 | 24.2 | 23.9 | 28.2 | 26.6 | 26.8 | 25.6 | |
| Central government balance | -0.6 | -1.6 | -1.8 | -5.5 | -3.6 | -3.3 | -2.5 | |
| Gross public debt | 45.5 | 39.6 | 40.0 | 46.3 | 42.8 | 42.7 | 40.6 | |
| Prices and financial indicators | ||||||||
| Exchange rate TL:US$ (end-period) | 1.409 | 1.171 | 1.526 | 1.491 | 1.541 | 1.582 | 1.605 | |
| Exchange rate TL:€ (end-period) | 1.859 | 1.710 | 2.121 | 2.137 | 2.093 | 2.088 | 2.038 | |
| Consumer prices (end-period; %) | 9.7 | 8.4 | 10.1 | 6.5 | 6.4 | 7.2 | 6.3 | |
| Stock of money M1 (% change) | 10.7 | 20.1 | 14.5 | 17.1 | 28.9 | 8.1 | 12.1 | |
| Lending interest rate (av; %) | 28.0c | 27.0c | 26.5c | 21.0c | 19.0c | 16.0 | 17.0 | |
| Current account (US$ m) | ||||||||
| Trade balance | -41,056 | -46,852 | -53,021 | -24,850 | -56,354 | -65,240 | -65,014 | |
| Goods: exports fob | 93,613 | 115,361 | 140,800 | 109,647 | 120,923 | 135,627 | 140,472 | |
| Goods: imports fob | -134,669 | -162,213 | -193,821 | -134,497 | -177,277 | -200,867 | -205,485 | |
| Services balance | 13,555 | 13,283 | 17,311 | 16,749 | 14,245 | 14,839 | 15,259 | |
| Income balance | -6,656 | -7,108 | -8,362 | -8,189 | -7,816 | -6,988 | -6,266 | |
| Current transfers balance | 1,908 | 2,243 | 2,113 | 2,299 | 1,364 | 1,417 | 1,551 | |
| Current-account balance | -32,249 | -38,434 | -41,959 | -13,991 | -48,561 | -55,972 | -54,469 | |
| External debt (US$ m) | ||||||||
| Debt stock | 206,833 | 249,181 | 277,277 | 268,308cd | 290,366cd | 312,475 | 315,444 | |
| Debt service paid | 40,170 | 47,848 | 54,422 | 67,224c | 58,309c | 52,015 | 63,805 | |
| Principal repayments | 30,505 | 35,966 | 41,368 | 58,467c | 50,054c | 42,613 | 52,862 | |
| Interest | 9,665 | 11,882 | 13,054 | 8,758c | 8,255c | 9,402 | 10,943 | |
| International reserves (US$ m) | ||||||||
| Total international reserves | 63,265 | 76,507 | 73,657 | 74,995 | 86,080 | 89,476 | 89,479 | |
| a Actual. b Economist Intelligence Unit forecasts. c Economist Intelligence Unit estimates. d Based on full-year Treasury data. | ||||||||
| Source: IMF, International Financial Statistics. | ||||||||
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