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Country Report Turkey January 2011
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HTMLData and charts: Quarterly data
| 2008 | 2009 | 2010 | ||||||
| 4 Qtr | 1 Qtr | 2 Qtr | 3 Qtr | 4 Qtr | 1 Qtr | 2 Qtr | 3 Qtr | |
| General government finance (TL m) | ||||||||
| Revenue | 46,567 | 45,627 | 53,309 | 53,674 | 56,872 | 54,816 | 62,571 | 64,993 |
| Expenditure | 59,629 | 65,949 | 56,419 | 70,857 | 68,888 | 67,126 | 66,040 | 71,106 |
| Balance | -13,062 | -20,322 | -3,110 | -17,183 | -12,015 | -12,310 | -3,469 | -6,113 |
| Output | ||||||||
| Real GDP at constant 1998 prices (TL m) | 24,240.2 | 20,884.7 | 23,297.7 | 27,265.3 | 25,696.0 | 23,357.5 | 25,679.1 | 28,762.1 |
| Real GDP at constant 1998 prices (% change, year on year) | -7.0 | -14.6 | -7.6 | -2.7 | 6.0 | 11.8 | 10.2 | 5.5 |
| Industrial production index (2005=100)a | 102.5 | 96.5 | 100.4 | 103.4 | 110.8 | 113.1 | 114.4 | 113.7 |
| Industrial production index (% change, year on year) | -12.1 | -21.3 | -15.3 | -8.7 | 8.1 | 17.2 | 13.9 | 10.0 |
| Manufacturing production index (2005=100)a | 99.9 | 92.3 | 97.6 | 100.8 | 108.3 | 110.7 | 112.2 | 111.2 |
| Mining production index (2005=100) | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Employment, wages and prices | ||||||||
| Employment ('000) | 4,166 | 3,886 | 3,837 | 3,989 | 4,111 | n/a | n/a | n/a |
| Employment (% change, year on year) | -0.7 | -7.7 | -9.7 | -7.3 | -1.3 | n/a | n/a | n/a |
| Unemployment rate (%) | 12.6 | 15.8 | 13.8 | 13.2 | 13.2 | 14.2 | 11.2 | 11.1 |
| Hourly earnings, manufacturing (2000=100)b | 144 | 145 | 146 | 151 | 156 | 158 | 161 | n/a |
| Consumer prices (2003=100) | 160.4 | 161.1 | 162.9 | 163.7 | 169.6 | 176.1 | 177.9 | 177.4 |
| Consumer prices (% change, year on year) | 10.9 | 8.4 | 5.7 | 5.3 | 5.7 | 9.3 | 9.2 | 8.4 |
| Producer prices (2003=100) | 160.1 | 158.0 | 160.4 | 161.0 | 164.1 | 169.5 | 175.0 | 175.1 |
| Producer prices (% change, year on year) | 11.2 | 5.9 | -1.6 | -1.5 | 2.5 | 7.2 | 9.1 | 8.7 |
| Financial indicators | ||||||||
| Exchange rate TL:US$ (av) | 1.539 | 1.654 | 1.566 | 1.495 | 1.485 | 1.506 | 1.535 | 1.511 |
| Exchange rate TL:US$ (end-period) | 1.526 | 1.672 | 1.528 | 1.481 | 1.491 | 1.519 | 1.578 | 1.443 |
| Deposit rate (av; %) | 25.4 | 19.3 | 18.0 | 17.1 | 16.2 | 15.9 | 15.9 | 15.8 |
| Interbank money market rate (av; %) | 16.3 | 12.6 | 9.6 | 8.0 | 6.7 | 6.5 | 6.5 | 6.5 |
| M1 (end-period; TL m) | 59,462 | 59,802 | 61,263 | 66,121 | 69,660 | 71,388 | 79,104 | 85,115 |
| M1 (% change, year on year) | 14.5 | 15.6 | 13.4 | 16.2 | 17.1 | 19.4 | 29.1 | 28.7 |
| M2 (end-period; TL m) | 282,278 | 283,905 | 285,361 | 295,721 | 313,431 | 331,601 | 355,732 | n/a |
| M2 (% change, year on year) | 27.1 | 20.9 | 18.0 | 15.7 | 11.0 | 16.8 | 24.7 | 23.9 |
| ISE National-100 index (end-period; Jan 1986=1) | 26,864 | 25,764 | 36,949 | 47,910 | 52,825 | 56,538 | 54,839 | 65,774 |
| Stockmarket index (% change, year on year) | -62.9 | -33.7 | 5.3 | 32.9 | 96.6 | 119.4 | 48.4 | 37.3 |
| Sectoral trends | ||||||||
| Crude steel production ('000 tonnes) | 5,378 | 5,644 | 6,294 | 6,761 | 6,606 | 6,074 | 7,423 | n/a |
| Cement production ('000 tonnes) | 11,522 | 10,764 | 15,883 | 14,803 | 13,649 | 11,849 | 17,321 | n/a |
| Car production (‘000) | 136 | 123 | 224 | 195 | 211 | 219 | 236 | n/a |
| Foreign trade (US$ m) | ||||||||
| Exports fob | 26,841 | 24,474 | 23,238 | 25,377 | 29,054 | 25,984 | 28,732 | 27,010 |
| Imports cif | -38,421 | -28,878 | -33,489 | -38,152 | -40,410 | -38,489 | -44,894 | -47,128 |
| Trade balance | -11,580 | -4,404 | -10,251 | -12,775 | -11,356 | -12,505 | -16,162 | -20,118 |
| Foreign payments (US$ m) | ||||||||
| Merchandise trade balance fob-fob | -7,956 | -1,266 | -6,823 | -9,418 | -7,386 | -8,849 | -12,152 | -16,650 |
| Services & income balancec | 1,560 | -1,128 | 906 | 6,793 | 1,740 | -1,530 | 826 | 5,379 |
| Net transfer payments | 431 | 456 | 465 | 484 | 894 | 275 | 280 | 375 |
| Current-account balance | -5,965 | -1,938 | -5,452 | -2,141 | -4,752 | -10,104 | -11,046 | -10,896 |
| Reserves excl gold (end-period) | 70,428 | 67,418 | 66,106 | 71,103 | 70,874 | 69,411 | 71,216 | 77,782 |
| a Seasonally adjusted. b Gross earnings per production worker. c Including other goods. | ||||||||
| Sources: Central Bank of Turkey; Turkish Statistical Institute; OECD, Main Economic Indicators; IMF, International Financial Statistics; Bloomberg. | ||||||||
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