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TURKEY
Will the shift to orthodox monetary policies last this time?
C4
HIGH RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in January 2024.
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GDP | USD906bn (World ranking 19, World Bank 2022) |
Population | 85mn (World ranking 18, World Bank 2022) |
Form of state | Presidential Republic |
Head of government | Recep Tayyip ERDOGAN (President) |
Next elections | 2028, presidential and legislative |
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- Important geostrategic position (that has historically always ensured aid when needed)
- Adequate business environment (though deteriorating)
- Potential as regional hub between Europe, MENA and Asia
![](/content/dam/onemarketing/ehndbx/eulerhermes_com/en_gl/erd/icon/minus.png)
- Exchange rate vulnerability to domestic and external shocks
- Economic policy responsiveness
- History of persistently large current account deficits
- Very high short-term external debt burden, especially in the private sector
- Low foreign exchange reserves (compared to imports or short-term external debt)
- Geopolitical risks
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Germany
8.3%
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1 |
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United States
6.6%
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2 |
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Iraq
5.4%
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3 |
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United Kingdom
5.1%
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4 |
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Italy
4.9%
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5 |
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Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Road vehicles
10.1%
|
1 |
5.6%
Gold, non-monetary (excluding gold ores and concentrates)
|
Articles of apparel & clothing accessories
7.8%
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2 |
5.5%
Iron and steel
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Iron and steel
6.7%
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3 |
5.5%
Petroleum, petroleum products and related materials
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Petroleum, petroleum products and related materials
5.9%
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4 |
4.8%
Road vehicles
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Miscellaneous manufactured articles, n.e.s.
5.8%
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5 |
4.3%
Non-ferrous metals
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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