Turkish economy shows steady growth

The launch of the Turkey-Ceylon Business Chamber (TCBC) took place in Colombo recently.

TCBC is a Sri Lanka based business chamber which comprises local and Turkish Directors, keen on promoting business between not only Sri Lanka and Turkey, but also in many other countries through facilitation.

The Turkish economy has shown remarkable performance with its steady growth over the past decade. A sound macroeconomic strategy in combination with prudent fiscal policies and major structural reforms in effect since 2002 has integrated the Turkish economy into the globalized world, while transforming the country into one of the major recipients of FDI in its region. With a GDP of US $ over 820 billion, per capita income over US $ 10,400 and export market of US $ 158 billion, Turkey is one of strongest emerging markets in the region.

Turkey is the 17th largest economy in the world. Turkey manufactured 1.17 million light vehicles in 2014 and the largest bus manufacturer among European countries.

Turkey is eighth largest manufacturer of steel in the world and second largest in EU. It is the fourth largest cement producer in the world as well as second largest construction industry.