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Turkish Economy - News & Updates

What is the driving force behind Turkish Economic problem?

  • The on going Trump attack on Turkish Economy

    Votes: 29 19.9%
  • Jewish Agenda to weaken adjacent countries to Israel

    Votes: 36 24.7%
  • Internal Turkish economic problems

    Votes: 50 34.2%
  • Falling Exports for Turkey

    Votes: 5 3.4%
  • Loss of Tourism income for Turkey

    Votes: 1 0.7%
  • External Loans or Debt impacting Economy

    Votes: 25 17.1%

  • Total voters
    146
Moody's comment afterwards presidental elections ; Political uncertainity will remain until 2015 !!



Turkish political uncertainty to persist until 2015 election -Moody's| Reuters


Turkish political uncertainty to persist until 2015 election -Moody's
ISTANBUL Fri Aug 15, 2014 10:49am BST


Aug 15 (Reuters) - Tayyip Erdogan's victory in Turkey's presidential election does not resolve the country's credit challenges and political uncertainty will remain until at least the conclusion of parliamentary elections next year, Moody's said on Friday.

The ratings agency said the credit implications of Sunday's presidential election would not be clear until a new prime minister is appointed in late August and general elections, which are due by next June, have been held.

"Until the political landscape reaches some stability, the country's structural reform agenda is likely to suffer, leaving Turkey exposed to potential shifts in international market sentiment," Alpona Banerji, vice president and senior analyst at Moody's, said in a note.
 
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Turkey’s automotive industry to break new production record in 2014

the lights are all green for Turkey’s automotive industry to reach record levels of production and exports according to the head of the Turkish Automotive Manufacturer Association (OSD).


“The strong recovery in the European market has lifted the Turkish automotive industry’s exports by 8 percent and the export revenue by 12 percent, offsetting the negative effects of the contraction in the domestic market”, Kudret Onen said, assessing the industry’s performance during the first six months of the year. EU is the major recipient of Turkey’s export goods and motor vehicles usually top the list of the country’s shipments.


For the year-end total, an increase of 11 percent in automotive output over last year’s 1.13 million is likely, the association predicts, which means the highest-ever figure for Turkey’s automotive industry to date with 1.25 million vehicles. Soaring demand in Europe also means increased exports, expected to hit 910.000 vehicles over last year’s 828.000. The Turkish automotive industry earned USD 21.5 billion from exports in 2013 with shipments from plants belonging to Ford, Fiat, Hyundai, Renault, Toyota, Honda and other carmakers reaching the world markets.

Turkey’s automotive industry to break new production record in 2014
- Invest in Turkey


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Turkey’s second quarter tourism revenue hit USD 8.9 billion

Turkey’s tourism revenue in the second quarter of 2014 hit a record high of USD 8.9 billion, up 7.9 percent over the same quarter of the last year, according to figures released by the Turkish Statistical Institute (TurkStat).


Some 84.5 percent of Turkey’s tourism revenue in the second quarter is left over by foreign nationals, while the rest consisted of expenditures made by Turkish citizens living abroad. The majority of expenditures are made by visitors on individual tours, rather than those travel through holiday companies. Against approximately USD 6.6 billion spent on private visits, revenue from tour packages stood around USD 2.3 billion, TurkStat data show.


The number of foreign visitors registered an increase of 6.8 percent, reaching 10.9 million people in the said period.


Turkey welcomed more than 35 million foreign visitors in 2013, becoming the 6th most popular travel destination in the world.


The country is expected to welcome a total of 43 million tourists this year with the tourism sector generating a revenue of USD 36 billion, according to an Association of Turkish Travel Agencies (TURSAB) forecast.

Turkey’s second quarter tourism revenue hit USD 8.9 billion
- Invest in Turkey
 
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1st domestic machine of energy sector... Drilling rig by Pİ MAKİNA...

Petrol aramaları için yerli sondaj kulesi - Anadolu Ajansı

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İş Makinaları - Beton santrali - Pi Makina

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New net profit record by Turkish Airlines...

THY 172 milyon lira net kar elde etti - Anadolu Ajansı

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Unbeliveble profit record from TORUNLAR GYO... 965% increase @ net profit when it's compared to last year... Net profit is 271 Mln. TL...

Torunlar GYO’dan altı aylık rekor kâr | Güncel Haberler | Sabah Emlak

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Torunlar GYO
 
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Hmm...Same as since 10 years. Round about. Right?
Yeah, some thing like that.... Those all-inclusive hotels charge you cheaper than Turks...because you came with a tour meaning 50-100 person at a time.. while when we go to holiday it is 2-4 person because we don't use tour agency... so it becomes more expensive for us.
 
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If you want to watch there is a documentry about Turkish Airlines @ 80th Anniversary of Turkish Airlines... It's today on TRT 1 @ 22:45... 10-15 minutes left for it...
 
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Turkish RO-RO ship transport owners speak out in terms of adequate terminal capacity in Turkey shores;
With recent clashes in middle east boosted RO-RO transport , as truck transport begin to loose its attraction , lower fees and security issues led RO-RO sector to increase, companies scheduled ships at full capacity, and they complains about inefficient terminal capacity, concerns over port deals with private port owners ; They all share the same opinion " we want our own terminal, that belongs to us " , to avoid from concerns and sanctions from private port owners .
Further, RO-RO transporters indicate that inland transport led to increase beside international transport , need of a full capacity terminal which is designed for RO-RO operation is specially emerged . RO-RO transporters delivers this matter to government by speaking about payments " we are ready for paying all the cost for terminal construction and area, just we need an ease in buoracracy and official progress which denies us"
RO-RO transporters further claim that , they attracted 235 thousand of heavy trucks in RO-RO , helped 1.5 millions liter of fuel to be saved , They moreover claims that , they will be able to achieve attraction of at least 1 million of heavy transports to RO-RO , and let traffic jam in bridges to be reduced .
They indicated demand hits too high , and additionally 25 ships might be needed , with promise of construction in Turkish shipyards.

"En Az 25 Gemi Yaptırırız"|DenizHaber 25 Ağustos 2014 Pazartesi 08:45


RO-RO refers to Roll - on , Roll off , meant to wheeled transpots vehicles to be loaded on ship , by locate them in each deck of vessel .
 
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Turks’ soaring debts setting off alarm bells

Turks’ soaring debt levels are beginning to set off alarm bells, with the number of consumers having difficulty paying credit card debts jumping by more than 30 percent in June compared to the same month last year.

According to figures compiled by the Turkish Banks Association (TBB) Risk Center, nearly 186,000 Turks did not pay their loan or credit card debts to banks in June.

The most remarkable rise was in the number of people who failed to repay their credit card debts, with the figure rising to 116,093 from 88,885 last year, marking a 30.6 percent jump on an annual basis.
In the same month, the number of people who were unable to repay their individual loans surged by 21.7 percent, to 69,509.

The struggle to pay debts on time may be a reflection of the recent higher-than-expected rise in inflation and unemployment levels.

The upsurge in debts came despite new restrictions on installment payments and loans recently introduced by the country’s banking watchdog.

The Banking Regulation and Supervision Agency (BDDK) brought in new measures at the beginning of February to curb the use of credit cards to pay for goods in monthly installments, hoping this would restrict the country’s rising inflation and current account deficit.

However, with unemployment still failing to drop significantly and inflation levels remaining stubbornly high, consumers’ budgets are feeling the squeeze.

A considerable rise was also seen in the number of people who were unable to pay their debts across the first six months of the year as a whole.

While 660,962 people in Turkey failed to pay their credit card and loan debts to banks in the first half of last year, this figure rose by 22.7 percent to 811,283 in the same period of 2014.

Economist Mustafa Sönmez highlighted that there was a serious rise in unemployment numbers in May and predicted that the number could rise even further.

“It is predicted that the number of jobless has reached 3 million. This shows that there is an apparent decline in household income. There is a relation between unemployment and failure to pay individual and credit card debts,” Sönmez told Doğan News Agency. He added that excessive increases in the prices of basic goods, such as food, were hurting consumers, warning that signs suggest these pains will remain “unless the government intervenes with populist policies.”

Turks’ soaring debts setting off alarm bells - ECONOMICS
 
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