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The economy of Turkey is defined as an emerging market economy bythe IMF[15]  and is largely developed, making Turkey one of the world'snewly industrialized countries. The country is among the world's leadingproducers of agricultural products; textiles; motor vehicles, ships andother transportation equipment; construction materials; consumerelectronics and home appliances. In recent years, Turkey had a rapidlygrowing private sector, yet the state still plays a major role in industry,banking, transport, and communications.

Contents[hide]

•

1 Macro-economic trends○ 1.1 Effect of the Global Financial Crisis

• 2 Main economic sectors

○ 2.1 Agricultural sector

○ 2.2 Industrial sector

2.2.1 Consumer electronics and home appliances

2.2.2 Textiles and clothing

2.2.3 Motor vehicles and automotive products 2.2.4 Shipbuilding

2.2.5 Arms industry

○ 2.3 Construction and contracting sector

○ 2.4 Service sector

2.4.1 Transport

2.4.2 Communications

2.4.3 Tourism sector 2.4.4 Financial sector

• 3 Largest companies

• 4 External trade and investment

• 5 Natural resources

○ 5.1 Minerals

○ 5.2 Petroleum and natural gas

○ 5.3 Nuclear energy

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○ 5.4 Geothermal energy

○ 5.5 Energy security

• 6 Environment

• 7 Regional disparities• 8 References

• 9 External links

[edit] Macro-economic trendsTurkey has the world's 15th largest GDP-PPP[2]  and 17th largest NominalGDP.[16] The country is a founding member of the OECD (1961) and one

of the G-20 major economies (1999). Since December 31, 1995, Turkeyis also a part of the EU Customs Union. Mean graduate pay was $10.02per manhour in 2010.

The CIA classifies Turkey as a developed country.[17] Turkey is oftenclassified as a newly industrialized country by economists and politicalscientists;[18][19][20] while Merrill Lynch, the World Bank and TheEconomist magazine describe Turkey as an emerging market economy.[21]

[22][23]

The World Bank classifies Turkey as an upper-middle income country interms of the country's per capita GDP in 2007.[23] According to a surveyby Forbes magazine, Istanbul, Turkey's financial capital, had a total of 28billionaires as of March 2010 (down from 35 in 2008), ranking 4th in theworld behind Moscow (50 billionaires), New York City (60 billionaires)and London (32 billionaires).[24]

[edit] Effect of the Global Financial Crisis

Like many economies, the Turkish economy has been affected by the

global financial crisis with its Finance Ministry reporting that Turkey'sbudget deficit swelled to 23.2 billion Turkish liras ($15 billion) in thefirst half of 2009, 13 times higher than a year earlier.[25]

Nevertheless, The Economist points out that:[22]

Yet in many ways Turkey has weathered the credit crunch better thanother emerging economies. Partly thanks to tough regulation, not a singleTurkish bank has gone under. That is also because, unlike many Westernbanks, they have few toxic assets and limited mortgage exposure. So the

government has not had to divert public money into rescuing banksreserving thus the public debt in a low level. Also the turkish banks have

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a high liquidity monitored in the credit ratings index of financial strengthwhich is equal to this of the major european banks.

In 2009, the Turkish Government introduced various economic stimulus measures to reduce the impact of the financial crisis such as temporary

tax cuts on automobiles, home appliances and housing. As a result, theproduction of durable consumer goods increased by 7.2%, despite adecrease in automotive production.[26]

The Turkish Stock Market and credit rating agencies have respondedpositively. Share prices in Turkey nearly doubled over the course of 2009. According to The Economist, in the period December 2008 -December 2009 the Turkish stockmarket rose the most in the world afterArgentina's stockmarket.[27] On 8 January 2010, International credit rating

agency Moody's upgraded Turkey's rating with a notch.[28]

The creditrating agency Fitch upgraded Turkey’s sovereign rating two notches toBB+. Turkey is one of the few countries that saw its rating upgraded bytwo notches.

[edit] Main economic sectors

[edit] Agricultural sector

Atatürk Dam is the largest of the 22 dams in the Southeastern AnatoliaProject. The program includes 22 dams, 19 hydraulic power plants, andthe irrigation of 1.82 million hectares of land. The total cost of the projectis estimated at $32 billion. The total installed capacity of power plants is7476 MW and projected annual energy production reaches 27 billionkWh.

As of March 2007, Turkey is the world's largest producer of hazelnut,cherry, fig, apricot, quince and pomegranate; the second largest producer

of watermelon, cucumber and chickpea; the third largest producer of 

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tomato, eggplant, green pepper, lentil and pistachio; the fourth largestproducer of onion and olive; the fifth largest producer of sugar beet; thesixth largest producer of tobacco, tea and apple; the seventh largestproducer of cotton and barley; the eighth largest producer of almond; the

ninth largest producer of wheat, rye and grapefruit, and the tenth largestproducer of lemon.[29] Turkey has been self-sufficient in food productionsince the 1980s. The agricultural output has been growing at a respectablerate. However, since the 1980s, agriculture has been in a state of declinein comparison to the total economy.

The country's large agricultural sector accounted for 29.5% of theemployment in 2009.[29] Historically, Turkey's farmers have been fairlyfragmented. According to the 1990 Census, "85% of agricultural holdingswere under 10 hectares and 57% of these were fragmented into four ormore non-contiguous plots."[30] Many old agricultural attitudes remainwidespread, but these traditions are expected to change with the EUaccession process. Turkey is dismantling the incentive system. Fertilizerand pesticide subsidies have been curtailed and remaining price supportshave been gradually converted to floor prices. The government has alsoinitiated many planned projects, such as the Southeastern AnatoliaProject (G.A.P project). The advent of the G.A.P promises a veryprosperous future for the southeastern agriculture.[31] The program

includes 22 dams, 19 hydraulic power plants, and the irrigation of 1.82million hectares of land.[32] The total cost of the project is estimated at$32 billion.[32] The total installed capacity of power plants is 7476 MWand projected annual energy production reaches 27 billion kWh.[32]

The livestock industry, compared to the initial years of the Republic,showed little improvement in productivity, and the later years of thedecade saw stagnation. However, livestock products, including meat,milk, wool, and eggs, contributed to more than ⅓ of the value of agricultural output. Fishing is another important part of the economy; in

2005 Turkish fisheries harvested 545,673 tons of fish and aquaculture.[33]

[edit] Industrial sector

[edit] Consumer electronics and home appliances

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Turkish brands like BEKO and Vestel are among the largest producers of consumer electronics and home appliances in Europe.

Turkey's Vestel Electronics is the largest TV producer in Europe,

accounting for 21% of all TV sets manufactured and sold on the continentin 2007.[34] By January 2005, Vestel and its rival Turkish electronics andwhite goods brand BEKO accounted for more than half of all TV setsmanufactured in Europe.[35] Another Turkish electronics brand, Profilo-Telra, was Europe's third largest TV producer in 2005.[36] EU marketshare of Turkish companies in consumer electronics has increasedsignificantly following the Customs Union agreement signed between theEU and Turkey: in color TVs from 5% in 1995 to more than 50% in2005, in digital devices from 3% to 15%, and in white goods from 3% to

18%.

[edit] Textiles and clothing

Turkish companies made clothing exports worth $13.98 billion in 2006;more than $10.67 billion of which (76.33%) were made to the EUmember states.[37]

[edit] Motor vehicles and automotive products

Main article: Automotive industry in Turkey

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Turkish automotive companies like TEMSA, Otokar and BMC areamong the world's largest van, bus and truck manufacturers.

Turkey has a large and growing automotive industry, which produced1,024,987 motor vehicles in 2006,[38] ranking as the 7th largest

automotive producer in Europe; behind Germany (5,819,614), France (3,174,260), Spain (2,770,435), the United Kingdom (1,648,388), Russia (1,508,358) and Italy (1,211,594), respectively.[39]

In 2008 Turkey produced 1,147,110 motor vehicles, ranking as the 6thlargest producer in Europe (behind the United Kingdom and above Italy)and the 15th largest producer in the world.[40][41]

The automotive industry is an important part of the economy since thelate 1960s. The companies that operate in the sector are mainly located in

the Marmara Region. With a cluster of car-makers and parts suppliers, theTurkish automotive sector has become an integral part of the globalnetwork of production bases, exporting over $22,944,000,000 worth of motor vehicles and components in 2008.[42][43]

[edit] Shipbuilding

Turkey is also one of the leading shipbuilding nations; in 2007 Turkishshipyards ranked 4th in the world (behind China, South Korea and Japan)in terms of the number of ordered ships, and also 4th in the world (behind

Italy, USA and Canada) in terms of the number of ordered mega yachts.[44]

[edit] Arms industry

F-511 TCG Heybeliada is the lead ship of the Milgem class nextgeneration corvettes and frigates of the Turkish Navy.

Turkey has many modern armament manufacturers. Annual exportsreached $832 million in 2009.[45] MKEK, TAI, Aselsan, Roketsan, Fnss,Otokar, and Havelsan are major manufacturers. On July 11 2002, Turkeybecame a Level 3 partner of the F-35 Joint Strike Fighter (JSF)development program. TAI builds various aircrafts such as F-16 Block50+ for the TuAF.[46][47] Turkey will build new military/intelligencesatellites including a 0.8m resolution reconnaissance satellite (Project

Göktürk-1) for use by the Turkish Armed Forces and a 2m resolution

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reconnaissance satellite (Project Göktürk-2) for use by the TurkishNational Intelligence Organization. Other important products are M TÜPİ  Altay, TF-2000 class frigates (anti-air warfare frigate), Milgem stealthwarship, TAI Anka UAV (Unmanned Aerial Vehicle), Aselsan zci UGVİ  

(Unmanned Ground Vehicle), T-155 F rt naı ı , J-600T missile, T-129ATAK, UMTAS, Roketsan Cirit, Panter Howitzer, ACV-300, OtokarCobra and Akrep, FNSS Pars, TOROS artillery rocket system, BayraktarMini UAV, ASELPOD.

[edit] Construction and contracting sector

Main article: Turkish Construction and Contracting Industry

The Turkish construction and contracting industry is one of the leading,most competitive and dynamic construction/contracting industries in theworld. In 2009 a total of 33 Turkish construction/contracting companieswere selected for the Top International Contractors List prepared by theEngineering News-Record, which made the Turkishconstruction/contracting industry the world's 2nd largest, ranking behindthose of China.[48][49][50]

[edit] Service sector

[edit] Transport

Main article: Transport in Turkey

TCDD high speed train.

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One of the fastest growing airline companies in the world, TurkishAirlines won Europe's Best Airline and Southern Europe's Best Airline

awards by Skytrax. Turkish Airlines was chosen as the official carrier byEurope's leading football clubs like FC Barcelona[51]  and Manchester

United.[52] The company is also the primary sponsor of EuroleagueBasketball.[53]

As of 2009, there were 102 airports (90 with paved runways and 12 withunpaved runways) in Turkey, including the seven international airports inIstanbul, Ankara, zmirİ , Trabzon, Dalaman, Milas-Bodrum and Antalya.[54] There were also 21 heliports in the country during the same year. [54]

The rail network was 8,697 km in 2008, including 2,133 km of electrifiedtrack.[54] The Turkish State Railways started building high-speed rail lines

in 2003. The first line, which has a length of 533 km from Istanbul (Turkey's largest metropolis) via Eski ehirş to Ankara (the capital) isunder construction and will reduce the travelling time from 6–7 hours to3 hours and 10 minutes. The Ankara-Eski ehirş section of the line, whichhas a length of 245 km and a projected travel time of 65 minutes, iscompleted. Trials began on April 23, 2007, and revenue earning servicebegan on March 13, 2009. The Eski ehirş -Istanbul section of the line isscheduled to be completed by 2009, and includes the Marmaray tunnel which will enter service in 2012 and establish the first direct railway

connection between Europe and Anatolia.In 2006 the country had a roadway network of 426,951 km, including1,987 km of expressways, ranking 13th in the world.[54]

As of 2010, the Turkish merchant marine included 1199 ships (604registered at home), ranking 7th in the world.[54] Turkey's coastline has1,200 km of navigable waterways.[54]

In 2008, 7,555 kilometres (4,694 mi) of natural gas pipelines and 3,636kilometres (2,259 mi) of petroleum pipelines spanned the country's

territory.[54]

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[edit] Communications

Main article: Communications in Turkey

As of 2008, there were 17,502,000 operational main line telephones in

Turkey, which ranked 18th in the world;[54] while there were65,824,000 registered cell phones in the country, which ranked 15th inthe world during the same year.[54]

The telecommunications liberalisation process started in 2004 after thecreation of the Telecommunication Authority, and is still ongoing. Privatesector companies operate in mobile telephony, long distance telephonyand Internet access. Additional digital exchanges are permitting a rapidincrease in subscribers; the construction of a network of technologically

advanced intercity trunk lines, using both fiber-optic cable and digitalmicrowave radio relay, is facilitating communication between urbancenters.[54] The remote areas of the country are reached by a domesticsatellite system, while the number of subscribers to mobile-cellulartelephone service is growing rapidly.[54]

The main line international telephone service is provided by the SEA-ME-WE-3 submarine cable and by submarine fiber-optic cables in theMediterranean and Black Seas that link Turkey with Italy, Greece, Israel,Bulgaria, Romania, and Russia.[54] In 2002, there were 12 Intelsat satellite

earth stations; and 328 mobile satellite terminals in the Inmarsat andEutelsat systems.[54]

As of 2001, there were 16 AM, 107 FM, and 6 shortwave radio stations inthe country.[54]

As of 2008, there were 24,483,000 internet users in Turkey, which ranked15th in the world;[54] while as of 2009, there were 2,961,000 internet hosts in the country, which ranked 27th in the world.[54]

[edit] Tourism sectorMain article: Tourism in Turkey

Esenbo a International Airportğ in Ankara.

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Tourism is one of the most dynamic and fastest developing sectors inTurkey. According to travel agencies TUI AG and Thomas Cook, 11 of the 100 best hotels of the world are located in Turkey.[55] In 2005, therewere 24,124,501 visitors to the country, who contributed $18.2 billion to

Turkey's revenues, with an average expenditure of $679 per tourist. [56] In2008, the number of visitors rose to 30,929,192, who contributed $21.9billion to Turkey's revenues.[57] Over the years, Turkey has emerged as apopular tourist destination for many Europeans, competing with Greece,Italy and Spain. Resorts in provinces such as Antalya and Mu lağ (whichare located on the Turkish Riviera) have become very popular amongtourists.

[edit] Financial sector

The Central Bank of the Republic of Turkey (Türkiye Cumhuriyet  Merkez Bankası) was founded in 1930, as a privileged joint-stockcompany. It possesses the sole right to issue notes. It also has theobligation to provide for the monetary requirements of the stateagricultural and commercial enterprises. All foreign exchange transfersare exclusively handled by the central bank.

Originally established as the Ottoman Stock Exchange ( Dersaadet 

Tahvilat Borsası) in 1866, and reorganized to its current structure at the

beginning of 1986, the Istanbul Stock Exchange (ISE) is the solesecurities market of Turkey.[58] During the 19th and early 20th centuries,Bankalar Caddesi (Banks Street) in Istanbul was the financial center of the Ottoman Empire, where the headquarters of the Ottoman CentralBank (established as the Bank- Osmanî ı in 1856, and later reorganized asthe  Bank- Osmanî-i ahaneı Ş in 1863)[59] and the Ottoman Stock Exchange(1866) were located.[60] Bankalar Caddesi continued to be Istanbul's mainfinancial district until the 1990s, when most Turkish banks began movingtheir headquarters to the modern central business districts of Levent and

Maslak.[60]

In 1995, the Istanbul Stock Exchange moved to its currentbuilding in the Istinye quarter.[61] The Istanbul Gold Exchange was alsoestablished in 1995. The stock market capitalisation of listed companiesin Turkey was valued at $161,537,000,000 in 2005 by the World Bank.[62]

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Maslak financial district in Istanbul.

Until 1991, establishing a private sector bank in Turkey wasn't easy andwas subject to strict government controls and regulations. On 10 October

1991 (ten days before the general elections of 20 October 1991) theANAP government of Prime Minister Mesut Y lmazı gave specialpermissions to five prominent businessmen (who had close links to thegovernment) to establish their own small-scale private banks. These wereKentbank (owned by Süzer); Park Yat r m Bankası ı ı (owned byKaramehmet); Toprakbank (owned by Toprak); Bank Ekspres (owned byBetil); and Alternatif Bank (owned by Do an.) They were followed byğ  other small-scale private banks established between 1994 and 1995,during the DYP government of Prime Minister Tansu Çiller, who

introduced drastic changes to the banking laws and regulations; whichmade it very easy to establish a bank in Turkey, but also opened manyloopholes in the system. In 1998, there were 72 banks in Turkey; most of which were owned by construction companies that used them as financialassets for siphoning money into their other operations. As a result, in1999 and 2001, the DSP government of Prime Minister Bülent Ecevit hadto face two major economic crises that were caused mostly by the weakand loosely regulated banking sector; the growing trade deficit; and thedevastating zmit earthquake of 17 August 1999. Theİ Turkish lira, whichwas pegged to the U.S. dollar prior to the crisis of 2001, had to be floated,and lost an important amount of its value. This financial breakdownreduced the number of banks to 31. Prime Minister Bülent Ecevit had tocall the renowned economist Kemal Derviş to tidy up the economy andespecially the weak banking system so that a similar economic crisiswould not happen again.

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Levent financial district in Istanbul.

At present, the Turkish banking sector is among the strongest and mostexpansive in East Europe, the Middle East and Central Asia. During thepast decade since 2001, the Turkish lira has also gained a considerableamount of value and maintained its stability, becoming an internationallyexchangeable currency once again (in line with the inflation that droppedto single-digit figures since 2003.) The economy grew at an average rate

of 7.8% between 2002 and 2005. Fiscal deficit is benefiting (though in asmall amount) from large industrial privatizations. Banking came understress beginning in October 2008 as Turkish banking authorities warnedstate-run banks against the pullback of loans from the larger financialsectors.[63] More than 34% of the assets in the Turkish banking sector areconcentrated in the Agricultural Bank ( Ziraat Bankası), Housing Bank(Yap Kredi Bankası ı), Isbank (Türkiye Bankas İş ı) and Akbank. The fivebig state-owned banks were restructured in 2001. Political involvementwas minimized and loaning policies were changed. There are also

numerous international banks, which have branches in Turkey. A numberof Arabian trading banks, which practice an Islamic banking, are alsopresent in the country.

Government regulations passed in 1929 required all insurance companiesto reinsure 30% of each policy with the Millî Reasürans T.A. .Ş (NationalReinsurance Corporation) which was founded on February 26, 1929. [64] In1954, life insurance was exempted from this requirement. The insurancemarket is officially regulated through the Ministry of Commerce.

After years of low levels of foreign direct investment (FDI), in 2007Turkey succeeded in attracting $21.9 billion in FDI and is expected to

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attract a higher figure in following years.[65] A series of largeprivatizations, the stability fostered by the start of Turkey’s EU accessionnegotiations, strong and stable growth, and structural changes in thebanking, retail, and telecommunications sectors have all contributed to

the rise in foreign investment.[citation needed]

In recent years, the chronically high inflation has been brought undercontrol and this has led to the launch of a new currency, the "NewTurkish lira", on January 1, 2005, to cement the acquisition of theeconomic reforms and erase the vestiges of an unstable economy. [66] OnJanuary 1, 2009, the New Turkish lira was renamed once again as the"Turkish lira", with the introduction of new banknotes and coins.

[edit] Largest companiesIn 2010, 12 Turkish companies were listed in the Forbes Global 2000 list- an annual ranking of the top 2000 public companies in the world byForbes magazine.[67] The companies were:

World

RankCompany Industry

Revenue

(billion

$)

Profits

(billion

$)

Assets

(billion

$)

Market

Value

(billion

$)

274GarantiBankası

Banking 9.75 2.06 77.02 16.06

288Türkiye İş Bankası

Banking 10.97 1.61 86.34 12.60

321KoçHolding

Conglomerate 36.34 1.32 41.80 7.45

343Akbank Banking 8.06 1.16 60.23 15.75

414Sabancı 

Holding

Conglomerate 12.93 0.78 65.24 7.33

534HalkBankası

Banking 5.76 1.05 33.17 8.10

609Vak fbankı Banking 6.25 0.81 35.48 5.93

666TurkTelekom

Telecommunications 6.82 1.18 8.97 11.25

683Turkcell Telecommunications 5.89 1.55 8.00 13.19

934Enkan aatİ ş

Construction 5.87 0.50 7.63 7.29

1507Turkish Transportation 4.00 0.74 5.10 2.87

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Airlines

1872Do anğ  Holding

Conglomerate 8.17 0.05 6.80 1.68

[edit] External trade and investment

Turkish exports in 2006.

Turkey is a very large source of foreign direct investment in central andeastern Europe and the CIS, with more than $1.5 billion invested. 32%has been invested in Russia, primarily in the natural resources andconstruction sector, and 46% in Turkey’s Black Sea neighbours, Bulgaria and Romania. Turkish companies also have sizable FDI stocks in Poland,at about $100 million.

The construction and contracting companies have been significantplayers, such as Enka, Tekfen, Gama, and Üçgen n aat, as well as theİ ş  

three industrial groups, Anadolu Efes Group, i eCam GroupŞ ş and VestelGroup.

Turkey is a part of the EU Customs Union since 1995.

The exports reached $115.3 billion in 2007, but imports rose to $162.1billion, mostly due to the rising demand for energy resources like naturalgas and crude oil.[8] Turkey targets exports of $200 billion in 2013, and atotal trade of at least $450 billion.[68] There has been a considerable shiftin exports in the last two decades. Share of natural gas decreased from74% in 1980 to 30% in 1990 and 12% in 2005. Share of mid and hightechnology products has increased from 5% in 1980 to 14% in 1990 and43% in 2005.

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The main trading partners are the European Union, which accounted for59% of exports and 52% of imports in 2005,[69] the United States, Russia and Japan.[citation needed ] Turkey has taken advantage of a customs union withthe European Union, signed in 1995, to increase industrial production for

exports, while benefiting from EU-origin foreign investment into thecountry.[70]

[edit] Natural resources

[edit] Minerals

Turkey is the tenth ranked producer of minerals in the world in terms of diversity. Around 60 different minerals are currently produced in Turkey.The richest mineral deposits in the country are boron salts and Turkey’s

reserves amount to 72% of the world’s total. According to the CIA WorldFactbook, other natural resources include coal, iron ore, copper,chromium, uranium, antimony, mercury, gold, barite, borate, celestine (strontium), emery, feldspar, limestone, magnesite, marble, perlite,pumice, pyrites (sulfur), clay, arable land, hydropower, and geothermalpower.

[edit] Petroleum and natural gas

Turkey is an oil and natural gas producer, but the level of production isn'tlarge enough to make the country self-sufficient, which makes Turkey anet importer of both oil and gas. However, the recent discovery of new oiland natural gas fields in the country, particularly off the Black Sea 

coast[citation needed] of northern Anatolia; as well as in Eastern Thrace, the Gulf of skenderunİ and in the provinces of the SoutheasternAnatolia Region near the borders with Syria and Iraq; will help Turkey toreach a higher degree of self-sufficiency in energy production.[71]

The pipeline network in Turkey included 1,738 kilometres (1,080 mi) for

crude oil, 2,321 kilometres (1,442 mi) for petroleum products, and 708kilometres (440 mi) for natural gas in 1999. The Baku-Tbilisi-Ceyhanpipeline, the second longest oil pipeline in the world, was inaugurated onMay 10, 2005. The pipeline delivers crude oil from the Caspian Sea basinto the port of Ceyhan on Turkey's Mediterranean coast, from where it isdistributed with oil tankers to the world's markets. The planned NabuccoPipeline will also pass from Turkey and provide the European Union member states with natural gas from the Caspian Sea basin. The BlueStream, a major trans-Black Sea gas pipeline, is operational sinceNovember 17, 2005, and delivers natural gas from Russia to Turkey. The

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Tabriz–Ankara pipeline is a 2,577 kilometres (1,601 mi) long natural gaspipeline, which runs from Tabriz in northwestern Iran to Ankara inTurkey. The pipeline was commissioned on July 26, 2001. In Erzurum,the South Caucasus Pipeline, which was commissioned on May 21, 2006,

is linked to the Iran-Turkey pipeline. In the future, these two pipelineswill be among the main supply routes for the planned Nabucco Pipeline from Turkey to Europe.

[edit] Nuclear energy

To cover the increasing energy needs of its population and ensure thecontinued raising of its living standard, Turkey plans several nuclear power plants. Nuclear power proposals were presented as early as in the1960s[citation needed ], but plans were repeatedly canceled even after bids were

made by interested manufacturers because of high costs and safetyconcerns. Turkey has always chosen Candu nuclear reactors because theyburn natural uranium which is cheap and available locally and becausethey can be refueled online. This has caused uneasy feelings amongTurkey's neighbours because they are ideal for producing weapons-gradeplutonium. Turkey's first nuclear power plants are expected to be built inMersin's Akkuyu district on the Mediterranean coast; in Sinop'snceburun district on theİ Black Sea coast; and in K rklareliı 's neadaİğ  

district on the Black Sea coast.[72]

[edit] Geothermal energy

Turkey has the fifth highest direct utilization and capacity of geothermalpower in the world.[73]

[edit] Energy security

Turkey is a partner country of the EU INOGATE energy programme,which has four key topics: enhancing energy security, convergence of member state energy markets on the basis of EU internal energy market principles, supporting sustainable energy development, and attractinginvestment for energy projects of common and regional interest.[74]

[edit] EnvironmentWith the establishment of the Turkish Environment Ministry on August9, 1991 (which later merged with the Ministry of Forestry on May 1,2003, and became the Ministry of Environment and Forestry) Turkeybegan to make significant progress addressing some of its most pressing

environmental problems.[75] The most dramatic improvements were

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significant reductions of air pollution in Istanbul and Ankara. The mostpressing needs are for water treatment plants, waste water treatmentfacilities, solid waste management and conservation of biodiversity.[citation needed]

[edit] Regional disparitiesThe country's wealth is mainly concentrated in the northwest and west,while the east and southeast suffer from lower economic production andhigher levels of unemployment.[76]

Bir ülkenin gayri safi yurtiçi has laı s (GSY H), ekonomikı İ  büyüklü ünün birkaçğ ölçütünden biridir. GSY H,İ GSMH'den farklı olarak, bir ülke s n rlar içerisinde belli bir zaman içinde, üretilen tümı ı ı  nihai mal ve hizmetlerin para birimi cinsinden de eridir.ğ

Bu tan mda belli bir zaman, bir ay, üç ay ya da bir y l olabilir.ı ı GSY Hİ  genellikle bir y l için ele al n r.ı ı ı Nihai mal ve hizmetler ise, üretilentoplam mal ve hizmetlerden üretim için kullan lanı ara mallar dü üldüktenş  sonra geriye kalan de erdir.ğ Gsyih verilerini bulmak için u formülş  uygulan r.ı

GSY H =İ tüketim + yat r mı ı + devlet harcamaları + (ihracat - ithalat)

GSY H’danİ amortismanlar (sermayenin a nma ve eskime pay )şı ı  ç kar ld zamanı ı ığı safi yurt içi has laı   elde edilir. “Gayri safi”, sermayesto una amortisman n eklenmi oldu unu ifadeğ ı ş ğ eder.

Safi yurt içi has ladanı dolayl vergilerı ç k p ,ı ı sübvansiyonlar eklendi iğ  zaman yurt içi gelir elde edilir.

Yurt içi gelire, net d dünya faktör gelirleri eklendi i zamanış ğ milli gelir elde edilir.

Milli gelire, transfer ödemeleri eklenip, kurumlar vergisi, da t lmayanğı ı  

kurum karlar veı

sosyal sigortalar kesenekleri ç kar ld zamanı ı ı

ğı

ki iselş  gelir elde edilir.

Ki isel gelirden, ki isel gelir vergisi ç kar ld nda daş ş ı ı ığı harcanabilir ki iselş  gelir elde edilir.

Yukar daki e itlikte, tüketim ve yat r m, nihai mal ve hizmetler içinı ş ı ı  yap lan harcamalard r.ı ı E itli in ihracat eksi ithalat k sm ise harcamalar nş ğ ı ı ı  yurt içinde üretilmemi k sm n (ithalat) dü üp, yurt içi üretimin içerideş ı ı ı ş  tüketilmemiş k s m n (ı ı ı ihracat) eklemek suretiyle dengeler. ktisatç lar,İ ı  (Keynes’ten bu yana), genel tüketim kavram n , özel tüketim veı ı kamusektörü tüketimi olmak üzere ikiye bölmeyi tercih etmi lerdir.ş

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Bu nedenle GSY H u ekilde ifade edilir.İ ş ş

GSY H=İ özel tüketim + yat r mı ı + devlet harcamaları + net ihracat Ya dabasitçe GSY H=T+D+Y+X-M (X-M, ihracat eksi ithalat ifade eder).İ ı

Konu ba l klarş ı ı

[gizle]

• 1 GSYİH’nın bileşenleri 

• 2 GSYİH’nın değişkenlerine örnekler

• 3 GSYİH’nın ülkeler arası farklılıklara görekarşılaştırılabilir hale getirilmesi

• 4 GSYİH ve yaşam standardı 

• 5 GSYİH’nın ölçümlenmesi ve bir göstergeolarak kullanılmasına getirilen eleştiriler

• 6 Ülkelerin GSYİH’larına göre sıralandığı listeler

• 7 Referanslar

• 8 Dış bağlantılar

GSY H’n n bile enleriİ ı ş  [de i tirğ ş ]

T, Y, D ve (X-M) de i kenleri:ğ ş

•  T özel tüketim ya da tüketici harcamalarıolarak anılır. Ev halkının yemek, kira, ilaçgibi en kişisel harcamalarıdır.

•  Y sermaye cinsinden işle ilgiliyatırımlardır. Örneğin yeni bir fabrikabinası inşaatı, bir yazılım alımı ya damakine, teçhizat alımları gibi harcamalarişle ilgili yatırım olarak anılır. GSYİH için‘yatırım’ özellikle finansal olmayanürünlerin alımıdır. makroekonomide finansal ürünlerin alımı tasarruf olarak

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sınıflandırılır (GSYİH tasarruflardan değilharcamalardan oluşur). Ayırım (teorikolarak) oldukça açıktır: eğer para geri

ödeme yükümlülüğü olmaksızın, mal vehizmetlere dönüştürülebiliyor ise, bu biryatırımdır. Örneğin, tahvil ya da hissesenedi alımlarında paranın sahipliğinominal olarak el değiştirir ve bu transferödeme GSYİH toplamının dışında tutulur.Konuşma dilinde bu türü harcamaların

yatırım olarak anılmasına karşın, iktisadiaçıdan bu harcamalar bir yerdeğiştirmedir ve reel ekonomi ya daGSYİH formülünün bir parçası değildir.

• D nihai mal ve hizmetler için yapılmışdevlet harcamaları’nın tamamıdır. devletmemurlarının ücretleri, askeri amaçlı

silah alımları ve devlet tarafından yapılanher türlü benzeri yatırım harcamasınıiçerir. Sosyal sigorta ya da işsizlik yardımı gibi transfer ödemelerini içermez.GSYİH’nın bütünü içerisindeki devletharcamalarının nispi büyüklüğü iktisadiaçıdan oldukça önemlidir.

• (X-M) bir ekonomi içerisindeki netihracattır (ihracat-ithalat). GSYİH, diğerülkelerin tüketimi için üretilmiş mal vehizmetleri de kapsar. Bu nedenleihracatın tamamı GSYİH’ya eklenir. Bunakarşın ithalat GSYİH’dan çıkarılır çünküyurt dışından alınan mal ve hizmetler hali

hazırda T, Y ve D’ye dahil edilmiştir.

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 Yabancı ülkelerden yapılan tedariğin yurtiçi olarak hesaplanmasını engellemekamacıyla çıkarılırlar.

GSY H’n n de i kenlerine örneklerİ ı ğ ş  [de i tirğ ş ]

T,Y,D ve (X-M)’e örnekler:

Doluluk oran n art rmak amac yla bir otele yap lan yenileme harcamaları ı ı ı ı ı özel Yat r m iken, ayn sonuca hizmet edecek otel hisseleri al m birı ı ı ı ı  tasarruftur. Birinci durum GSY H ölçümüne dahil edilirken (Y), ikincisiİ  dahil edilmez. E er otel binas ayn zamanda özel birğ ı ı ev ise, yenilemeharcamalar Tüketim olarak de erlendirilir.ı ğ E er bir kamu kurulu u aynğ ş ı binay kamu yarar na bir hizmet için al nd na ba l olarak T veya Yı ı ı ığı ğ ı  

bili enlerinde bir art a neden olur.ş ış

GSY H’n n ülkeler aras farkl l klara göreİ ı ı ı ı  

kar la t r labilir hale getirilmesişı ş ı ı  [de i tirğ ş ]

GSY H ve ya am standardİ ş ı [de i tirğ ş ]

Ki i ba na GSY Hş şı İ , s kl kla bir ekonomidekiı ı ya am standard n nş ı ı birgöstergesi olarak kullan l r.ı ı Bu yakla m n sa lad kolayl klara kar n,şı ı ğ ığı ı şı  GSY H hakk ndaki pek çok ele tiri, onun bir ya am standard olarakİ ı ş ş ı  kullan lmas na odaklanmaktad r.ı ı ı

Ki i ba na GSY H’n n bir ya am standard göstergesi olarakş şı İ ı ş ı  kullan lmas n n en önemli nedeni, yayg n, düzenli ve s kça ölçülüyorı ı ı ı ı  olmas d r.ı ı Dünyan n bütün ülkeleri bu ölçümlemeyi hemen hemen aynı ı teknikle yapar, dolay s yla her ülkede ayn eyin ölçüldü üne dair birı ı ı ş ğ  güven olu mu tur.ş ş

Buna kar n, GSY H’n n bir ya am standard ölçütü olarakşı İ ı ş ı  kullan lmas n n güçlü ü ise, direk bir ifadeyle, GSY H’n n bir ya amı ı ı ğ İ ı ş  

standard ölçütü olmamas d r.ı ı ı GSY H bir ülkedeki belli ekonomikİ  aktiviteleri ölçümlemeyi hedefler. GSY H’n n bir ya am standard ölçütüİ ı ş ı  olarak kullan lmas n n gerekçesini güçlendiren argüman, (di erı ı ı ğ  de i kenlerin sabit kalaca n varsayarsak) genellikle bir ülkeninğ ş ğı ı  GSY H’s yükselirken, beraberinde o ülkedeki ya am standard n n daİ ı ş ı ı  yükseliyor olmas d r.ı ı Bu durum, GSY H’n n, ya am standard n n birİ ı ş ı ı  direk ölçütü olmak yerine, yard mc göstergesi olmas n sa lamaktad r.ı ı ı ı ğ ı

GSY H’n n ölçümlenmesi ve bir gösterge olarakİ ı  

kullan lmas na getirilen ele tirilerı ı ş  [de i tirğ ş ]

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GSY H’nin ekonomistler taraf ndan yayg n kullan lmas na kar n,İ ı ı ı ı şı ya amş  standardı göstergesi olarak de eri her zaman sorgulanm t r.ğ ış ı Bu konudaalternatif olarak, Birle mi Milletlerinş ş   nsani Geli me Endeksiİ ş gösterilir.

GSY H’n n nas l kullan ld na dair yap lan ele tiriler:İ ı ı ı ığı ı ş

• GSYİH harcanan paranın kaydı olmayankara borsayı ve para dışı ekonomiyihesaba katmaz. Bu nedenle, özellikle işhayatın önemli bir kısmının kayıt dışıgerçekleştiği ekonomilerde, olmasıgerekenin çok altında GSYİH değerleri ilekarşılaşılabilir. Barter’ın yaygınkullanıldığı ekonomilerde de benzeridurumlarla karşılaşılır.

•  Yaygın ekonomik analizler, çevre,yardımcı işler ve kadınların çalışmasınıihmal ederler. Çocuk bakıcılığı ya da evtemizlikçiliği gibi işler bu analizlerde yer

almazlar. Yeni Zelandalı ekonomistMarilyn Waring çalışmasında, bu konuyu,“ödeme ile sonuçlanmayan işler faktöredilebilecek olsa, ödenmeyen işgücününuğradığı haksızlık bir parça telafiedilebilecek ve demokrasinin ihtiyaçduyduğu politik saydamlıksağlanabilecektir” şeklinde vurgulamıştır.

• GSYİH’nın hesaplanmasında karşılaşılanfarklılıklar, ülkeler arasında çelişkileryaratmaktadır.

• GSYİH net bir değişim yaratmayanüretimleri ya da hasarların tamiri içinyapılanları da hesaba katar. Örneğin

doğal bir felaketten ya da bir savaştan

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sonra yapılan yeniden yapılanma büyükbir ekonomik aktivite yaratarak GSYİH’nınsıçramasına neden olur. Buna karşın bu

felaketlerin yaşanmamış olması gerçekteçok daha iyidir. Sağlık hizmetlerininekonomik değeri ise bir başka klasikörnektir. Çok sayıda insanın hasta olmasıve pahalı tedaviler görmesi arzu edilenbir şey değildir fakat gerçekleşmesiGSYİH’nın büyümesine neden olur.

•  Yaşam kalitesi (insanların mutluluğu),mal ve hizmetlerden çok farklı şeylerlebelirlenir. Yaşam standardının ölçülmesiiçin kullanılan alternatif ölçüm araçlarıdahi bu etkenleri hesaba katmazlar.

• Şirketlerin ülkeler arası ticari faaliyetleriGSYİH’nın değerini saptıran bir başka

etkendir. Örneğin Avrupalı ve Amerikalışirketler vergilerden tasarruf etmekamacı ile alım satım faaliyetlerinin birkısmını İsviçre ya da İrlanda gibiülkelerden geçirirler. Böylece vergilerdentasarruf elde ederken, bu faaliyetiyaptıkları ülkelerin GSYİH’sının

yükselmesine neden olurlar.• Ülkelerin ucuz ve kısa ömürlü mallar ya

da pahalı fakat uzun ömürlü mallar almaalışkanlıkları da GSYİH’nın olumsuzetkilenmesine neden olabilir. Bu konudakesin bir ayırım elde etmek zor olmaklabirlikte, bazı durumlarda, pahalı fakat

kalite malların uzun vadede kısa ömürlü

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mallardan daha ucuz olabilir. Böyledurumlarda alışkanlıkların kısa ömürlümallara yönelmesi GSYİH’nın

yükselmesine neden olur iken aynıdavranış biçimi moda, teknoloji değişimigibi nedenlerle sık yenilenme ihtiyacıduyulan mallarda ise GSYİH’nındüşmesini sağlayabilir.

•  Japonya gibi vatandaşları tasarrufaeğilimi ülkelerin GSYİH’sı düşüş eğilimine

girerken, vatandaşları, parası olmadığıhalde borç alarak, harcama eğilimli,

 Türkiye gibi ülkelerin GSYİH’sı büyümeyönünde etkilenecektir. GSYİH’nınhesaplanışında birikmiş tasarruf ya daborçlar hesaba katılmazlar.

• GSYİH büyümenin sürdürülebilir olup

olmadığını ölçemez. Bir ülke doğalkaynaklarını çok hızlı bir şekildetüketerek ya da yanlış yatırımlar yaparak,geçici bir süreyle yüksek GSYİH’ya sahipolabilir. Örneğin geçmişte yüksek fosfatkaynakları nedeniyle dünyanın en yüksekkişi başına milli gelire sahip ülkesi olan

Nauru, 1989’dan sonra, kaynaklarıntükenmesi ile milli gelirinde hızlı düşüşyaşamıştır. Sanayileşmeksizin petrolzengini olan ülkeler, gelecekte petrolkaynaklarının tükenmesi ile bugünküyüksek GSYİH’larınısürdüremeyeceklerdir. Düşük tasarruf 

oranları ve yüksek tüketim harcamaları

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nedeniyle, ekonomiler, şişirilmiş hissefiyatları ya da şişirilmiş ev fiyatları gibivarlık balonları ile karşı karşıyadırlar.

Doğanın kirletilerek yok edilmesipahasına yüksek ekonomik büyümeyaşayan Çin gibi ülkeler, ödenmesi çokzor, tekrar temizleme bedellerini, GSYİHhesaplarına dahil etmemektedirler.

• GSYİH’nın yıllık büyümesi, yıllara göre,üretim çıktısının kalitesindeki objektif 

değişimi hafife alan GSYİH deflatörü iledüzeltilmektedir. Deflatör, subjektif deneyimlere dayandığı için, teknoloji vekalite seviyelerindeki iyileşmelerin, nedereceye kadar, gerçek yaşamstandardını yükseltebileceğini ölçmekkonusunda yetersiz kalacaktır.

• GSYİH, fakirle zengininin gelirleriarasındaki eşitsizliği hesaba katmaz.

Baz iktisatç lar, yukar daki ele tirilere çözüm üretmeye çal an, ı ı ı ş ış Ak llı ı Geli me Göstergesiş ad alt nda, GSY H’n n bir ikamesini yaratmayaı ı İ ı  çal m lard r.ış ış ı Dünyan n en mutlu toplumu oldu unu iddiaı ğ eden Butan gibi baz ülkeler ise,ı Gayri safi ulusal mutluluk kavram n n bir ya amı ı ş  standard olarak avukatl n yapmaya çal maktad r.ı ığı ı ış ı

NEDİR??

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1. Gayrisafi Milli Hasıla'da meydana gelendeğişimleri belirlemek için, belirli bir yılıbaz alarak bu yıla göre yapılan hesaplarla

bulunan hasıladır.

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OKUN YASASI NEDİR??En önemli makroekonomik göstergelerden ikisi aras ndaki ili kiyi konuı ş  

alan Okun Yasas Amerikal profesörı ı  Arthur Okun’ un(1928-1980) adı ile an lmaktad r.ı ı

 Arthur Okun 1962 y l nda yay mlad makalesinde Amerika Birle ikı ı ı ığı ş  Devletleri’nin kinci Dünya Sava sonras (1948-1960) verileri ileİ şı ı  yapt çal may sunmu tur. Bu makalede sizlik ile Gayri Safi Yurtiçiığı ış ı ş İş  Has la aras nda ters yönlü bir ili ki oldu unu göstermi tir. Önemliı ı ş ğ ş  makroekonomik veriler aras ndaki bu ili ki de o makaleden sonraı ş  Profesör Okun’ un ad ile an lm t r.ı ı ış ı

Okun’ un ve onun gösterdi i yolda yap lan daha sonraki bir çokğ ı  makaleden görülebilece i üzere GSYH ile i sizlik aras ndaki ters yönlüğ ş ı  ili kinin ekonometrik modellemesi de u ekildedir;ş ş ş

sizlik oran ndaki de i iklik = sabit parametre – b*(reel GSYHİş ı ğ ş  büyümesi)

“b” katsay s OKUN katsay s olarak an lmaktad r.ı ı ı ı ı ı

Bu modelin yorumu ise u ekilde yap labilir;ş ş ı

E er büyüme oran nda bir dü ü gözlenirse bu durumda i sizlik oran ndağı

ş ş şı

 bir art olmas n beklemeliyiz. Tam tersi ekilde de büyüme oran ndaış ı ı ş ı  olan bir art n, i sizlik oran nda bir dü ü olarak kar l k bulmas nışı ş ı ş ş şı ı ı ı bekleriz.

1962 y l ndan bu yana bu konuda bir çok akademik makale haz rlanm t rı ı ı ış ı  ve hepsi de bu iki önemli makroekonomik de i ken aras ndaki ili kininğ ş ı ş  ters yönlü oldu unu göstermi tir. Bu alandaki önemli çal malardan biriğ ş ış  de Türk Profesör Salih Neftçi’ ye aittir.