Turkish Economy - News & Updates

[trajanus]

Report for Selected Countries and Subjects


IMF estimated the GDP of turkey in 2012 was 783bls ,ranked 17 ,just surpassed holland

 

[Ir.Tab.]

6 January 2013 / MUSTAFA GÜN, İSTANBUL

Turkish Airlines targets to make a profit of $9.7 billion in 2013

"In a written statement to the Public Disclosure Platform (KAP), Turkish Airlines (THY) has disclosed the company's goals for 2013, stating that the carrier aims to carry around 46 million passengers and make a profit of $9.7 billion.

THY also looks to have a 78.8 percent occupancy rate, flying 17.7 million domestic passengers and 27.3 million international passengers. The statement said the company will continue to expand its operations and increase its number of destinations. With recent decisions taken by the executive board, the company is expected to begin flights to the Colombian capital of Bogotá, Aqaba in Jordan and Mali's capital Bamako once permission has been granted. Other flights that will become operational in 2013 are to Caracas, Mexico City, Kuala Lumpur and Manila.

Commenting on the statement, THY CEO Hamdi Topçu said there will be nowhere in Europe that THY does not fly to in 2013, also announcing that the frequency for existing flights will be increased and more flight destinations will be added in Europe and the Middle East. He underlined that with its stable growth, number of passengers and quality of services offered, THY has attracted attention from around the world.

Furthermore, he implied the company has plans to increase the frequency of flights operated to many countries in Africa, noting, “Without a doubt, we will realize our targets with 18 million employees and a highly qualified management team.”

In addition, Topçu stated that as a result of the two agreements signed by the Transportation Ministry's Civil Aviation General Directorate (SHGM) to improve the flight network, the number of passengers flying to African countries has risen by almost 50 percent. “In past years, flights were operated to 13 African countries but once the agreements were signed last year 12 more countries were added to the list, bringing the number of passengers up to 1.5 million from 998.000 before the agreements,” he commented.

Topçu added that as accessibility to Africa has increased, it has attracted more investment and it is expected that the demand will increase for more flight connections to the continent."

 

[PacificBeach]

6 January 2013 / MUSTAFA GÜN, İSTANBUL

Turkish Airlines targets to make a profit of $9.7 billion in 2013

"In a written statement to the Public Disclosure Platform (KAP), Turkish Airlines (THY) has disclosed the company's goals for 2013, stating that the carrier aims to carry around 46 million passengers and make a profit of $9.7 billion.

9.7 billion profits??? No way. Maybe revenue

2012 revenue of THY should come about $8 billion. The writer of this article is clueless about airline industry. Zaman articles keep doing this, they just don't check their articles for facts and sanity...

 

[explorer9]

Report for Selected Countries and Subjects


IMF estimated the GDP of turkey in 2012 was 783bls ,ranked 17 ,just surpassed holland

Turkish 3 quarter GDP is 1257 Billion TL , fourth quarter GDP results are not out may be TURKSAT will publish in february but in my assesment it will be around 400 billion TL so the accumulated GDP of 012 will be around 1450 billion TL if you convert it in CER USD it will come around 820 billion $ . lets wait for full result. The IMF data is based on proposed growth not on actual growth.

 

[Ir.Tab.]

Turkey's Polimex wins $2 billion Turkmen airport contract

(Reuters) - Turkish company Polimex Construction has won a contract worth over $2 billion to build a new airport near Turkmenistan's capital Ashgabat, a Turkmen government official told Reuters on Saturday.

The official, who requested anonymity, gave no further details.

The construction of the airport should begin this month and be completed in August 2016, the official Neitralny Turkmenistan newspaper reported earlier. It will have a capacity to serve 1,600 passengers per hour.

Turkmenistan, a Central Asian nation of 5.5 million which holds the world's fourth-largest natural gas reserves, was one of the poorest of the 15 Soviet era republics.

But since gaining independence in 1991 the government has been pouring billions of dollars into ambitious construction projects across the desert country, helped by revenues from the oil and gas industry.

Polimex has already built a modern airport near the Caspian Sea port of Turkmenbashi in western Turkmenistan and completed a number of other projects in the nearby resort area of Avaza and in the capital Ashgabat.

(Reporting by Marat Gurt; Writing by Dmitry Solovyov; editing by Patrick Graham)

 

[Ir.Tab.]

2013 Economic Freedom

 

[explorer9]

2013 Economic Freedom

How can i get your personal email id ???

 

[Ir.Tab.]

How can i get your personal email id ???

Any idea? I think till the moment i could send a private message, My fans should wait!
By the way as my id is not part of turkey's economy check this:

Turkey Overtakes Norway as the Largest Oil Driller in Europe

 

[explorer9]

Any idea? I think till the moment i could send a private message, My fans should wait!
By the way as my id is not part of turkey's economy check this:

Turkey Overtakes Norway as the Largest Oil Driller in Europe

I tried but they say you require massive 10,000 posts to be able to send private message.

 

[Ir.Tab.]

1.3 billion dollar investment from CINER group

Turkish Ciner Group Corporation and Chinese Tianchen have signed a contract for the construction of a $ 3 billion facility at Kazan, Ankara.

 

[kollang]

@Ir.Tab. jan chera be qesmate irani sar nemizani?

 

[Targon]

What are you saying ? are you swearing at us ?

 

[explorer9]

Turkish dependency on foreign oil and gas are very high and it seems it is the most in major G20 economies.What solution the esteemed member suggests for this problem.

 

[Ir.Tab.]

Turkish dependency on foreign oil and gas are very high and it seems it is the most in major G20 economies.What solution the esteemed member suggests for this problem.

Without doubt being an energy hub in the region will guaranty the amount of oil, Turkey will need. To reach this objective Turkey should avoid unnecessary risks. Although I am not an Asad supporter, at all, but the attitude of Turkey's foreign policy should be more sophisticated. World only will count on Turkey when they find low risks on depending to this country.

Turkey has some plans to replace oil and gas dependency by coal, nuclear and renewable energies. However, Turkey will need more oil and gas. It is not bad to have a look to the list of oil importers of the world. If she successes in being the world artery of fossil energy, there will be no concern. The key is a mature, balanced and reliable foreign policy alongside with the maximum possible diversity.

 

[trajanus]

Turkey's current account deficit (CAD) fell by $25.1 billion in the first 11 months of 2012 to a $45.2 billion, data released by the central bank reported on Friday.
The data surpassed Ankara's own CAD projections, which originally projected an annual deficit of $58 billion. The central bank now expects the 12-month CAD to clock in at $50 billion. That news is encouraging for Turkey, where energy imports and domestic consumer demand for foreign goods pushed the CAD to record heights last year.

Economy Minister Zafer Çağlayan on Friday told members of the press joining him on his Africa tour that the lowered CAD was the result of impressive Turkish export performance. “We're going to solve the CAD in the medium and long term through more production, more export and more investment,” Çağlayan was quoted by the Anatolia news agency as saying.

Turkish exports increased by 12.6 percent to a record $152 billion in 2012, a sign of exporters' success in diversifying away from crisis-hit Europe and weathering the country's own slowed growth.

November manufacturing numbers released by the government last month indicated that monthly exports from the automotive, farming equipment and railway sectors increased by 10.4 percent over November 2011 to $1.3 billion. Exports of machinery and mechanical appliances meanwhile jumped 24.6 percent to $1.1 billion in the same month. But while Ankara has been keen to point out that around 90 percent of exports have been manufactured goods, another reason for Turkey's export performance is the country's growing gold trade to Iran. Sanctions-rocked Iran has bought up Turkish gold in trade for natural gas, and Reuters recently reported that Turkish gold exports rose by 800 percent last year. Gold exports totaled $12.7 billion in the first 11 months of 2012, the majority of which went to Iran or proxy banks in the UAE.

Despite the year's strong CAD reduction, November also saw signs that the deficit might be picking up again, with the November CAD rising to $4.4 billion from October's deficit of just $1.9 billion. The October deficit was the lowest in 34 months, and came as Turkish exports picked up while Turkish domestic demand slackened. Turkey's trade deficit was $2.6 billion in September.

That rise may be a sign that once tepid domestic consumption is returning, driving up trade imbalances while growth slowly picks up. Turkey's growth rate declined from 8.5 percent in 2011 to an estimated 3 percent in 2012. The once-reserved central bank took action last month to spur growth more aggressively this year, loosening its main interest rate for the first time in 16 months. The decision came after Turkey posted an anemic 1.6 percent growth in the third quarter of 2012. The government is predicting 4 to 5 percent growth in 2013.

Turkey's current account deficit narrows by $25 billion in November