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Economy of Turkey
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- Assets (billion $) Market Value (billion $)
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Long term GDP forecasts[edit] Main articles: List of countries by GDP (PPP) and List of countries by past and projected GDP (PPP) The following table is an OECD Long Term Projections made in February 2022 for largest 16 economies by GDP using PPP exchange rates from 2030 to 2060. [171]
External trade and investment[edit]
Export map of Turkey Turkey joined the European Union Customs Union (EUCU) in 1995 Members and observers of the Organization of Turkic States Members of the International Organization of Turkic Culture As of 2016, the main trading partners of Turkey are Germany, Russia and the United Kingdom, UAE, Iraq, Italy and China, many being top in both export as well as import.[172] Turkey has taken advantage of a customs union with the European Union, signed in 1995, to increase industrial production for exports, while benefiting from EU-origin foreign investment into the country.[173] In addition to Customs Union, Turkey has free-trade agreements with 22 countries.[174] A very large aspect of Turkey trade revolves around the automotive industry, where its top exports are cars, accounting for $13.2 billion. Other top exports from the country are gold, delivery trucks, vehicle parts and jewelry, which are respectively, $6.96 billion, $5.04 billion, $4.64 billion, and $3.39 billion. These values are calculated using the 1992 revision of the Harmonized System classification. Comparatively, it imports many of the same industries, such as, gold valued at $17.1 billion, refined petroleum at $9.8 billion, cars at $8.78 billion, vehicle parts at $6.34 billion and scrap iron at $5.84 billion.[175] Turkey is also a source of foreign direct investment in central and eastern Europe and the CIS, with more than $1.5 billion invested. 32% has been invested in Russia, primarily in the natural resources and construction sector, and 46% in Turkey's Black Sea neighbours, Bulgaria and Romania. Turkish companies also have sizable FDI stocks in Poland, at about $100 million. The construction and contracting companies, such as Enka, Rönesans Holding and Tekfen, have been significant players in the country's economy. Without a carbon price exporters to the EU will have to pay the CBAM from 2026.[176] Turkey had many improvements in the ease of doing business index. Its rank increased from 68th in 2017 to 33th in 2020. As of 2021, it was performing better than countries like the Netherlands and Belgium.[177][178][179] Natural resources[edit] Energy[edit] Main article: Energy in Turkey Renewable energy increases industrial production in Turkey Wind turbines in Gökçeada Island, Çanakkale Province Karabük Solar Energy Farm The energy sector is the main source of greenhouse gas emissions by Turkey and contributes to climate change in Turkey, which is in turn affecting the economy by increasing droughts, which reduce agriculture and hydropower in Turkey.[180] By 2020, according to Carbon Tracker, both new wind and solar power were cheaper than building new coal power plants; and they forecast that wind would become cheaper than existing coal plants in 2027, and solar in 2023: so they say that constructing Afşin-Elbistan C power station would be a waste of money (estimated 17 billion lira).[181] Renewable energy reduces fossil fuel imports to Turkey By the end of the 2010s Turkey had achieved energy security – in part by increasing regasification capacity and gas storage capacity.[182] Coal power subsidies have been described as economically irrational,[183] for increasing air pollution.[184] Download 0.79 Mb. Do'stlaringiz bilan baham: 
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