Turkey At a Glance

Basic Facts

Official NameRepublic of Turkey
Official LanguageTurkish
Capital CityAnkara
Financial CenterIstanbul
Currency UnitTurkish Lira (TRY)
Population76.6 million (2013)
Labor Force Population28.8 million (2013)
Median Age30.1 (2013)
Neighboring CountriesBulgaria, Greece, Syria, Iraq,
Iran, Azerbaijan, Armenia, Georgia
Coastal BordersMediterranean Sea
in the south, Aegean Sea in the west
and Black Sea in the North
Time ZoneGMT +2

Dynamic, Stable and Attractive Economy

  • The Turkish economy is the 16th largest economy in the world and the 6th largest economy when compared with the EU countries, according to GDP figures in 2012.
  • Turkey is a rapidly developing country and the Turkish economy has shown remarkable performance with its steady growth over the last decade. Turkey’s booming economy nearly tripled its GDP, reaching USD 820 billion in 2013, up from USD 231 billion in 2002 (TurkStat).
  • The Turkish economy stably grew with an average annual real GDP growth rate of 5 percent over the past decade (TurkStat).
  • According to the OECD, Turkish economy is expected to be the fastest growing economy among the OECD countries during 2011-2017 with an impressive annual average growth rate of 5.2%.
  • As per Ernst & Young’s attractiveness surveys, 2013, Turkey is one of the most attractive investment destinations for foreign investors. It received USD 135 billion of FDI (foreign direct investment) over the last decade (CBRT).

Centrally Located International Hub

  • Unique location at the crossroads of East-West and South-North axes
  • Bridges continents and connects markets
  • Influential and cost-effective gateway to major markets
  • Easy access to 1.5 billion customers in Europe, Asia, the Middle East and Africa

Well-developed Infrastructure

  • State-of-the-art technological infrastructure in transportation, telecommunications and energy
  • Well-developed and cost-effective sea transportation facilities
  • Railway transport advantage to Central and Eastern Europe
  • Swift and efficient air transportation with 45 airports connected to international destinations

Qualified and Diligent Labor Force

  • Over 28.3 million young, well-educated and motivated professionals (2013, TurkStat)
  • Largest youth population compared with the EU
  • Increasing labor productivity
  • Approximately 610,000 students graduate annually from over 183 universities (2012, Student Selection and Placement Center-OSYM)