Turkey: International Trade and Economic Development

Turkey International Trade and Economic Development The 2011 population of Turkey is 78.8 million with an annual growth rate of approximately 1.2% and an average age of 28.5 years. The country ranks as the 17th most populous in the world, following Germany. Approximately 70% of the population is urban with Istanbul representing the largest of the urban centers, followed by the country’s capital of Ankara. Turks are the largest ethnic group, representing approximately 75% of the total population, followed by Kurds which represent 18%, and the remaining 7% belonging to multiple minority groups. Almost the entire population is Muslim with less than 0.2% of the population representing other religions. Turkey’s overall unemployment rate is 12% with approximately 25% of the total labor force ages 15-24 being unemployed. 17.1% of the population lives below the national poverty line. 87.4% of the population is literate.[i]

Turkey’s 2010 Gross Domestic Product (GDP) was $735.3 billion. This amount represents approximately 1.2% of the World’s GDP and 6% of the Euro Area’s GDP, as defined by the World Bank. Taking into consideration purchasing power parity (PPP) and converting the country’s Gross National Income (GNI) to international dollars, Turkey’s GDP (PPP) is $1,116 billion.[ii] Turkey’s GDP growth is 8.95% increase for 2010, or an increase of approximately $120.71 billion, from 2009. Turkey’s 2010 GDP growth outpaced the growth rate of the World and the Euro Area. The World GDP growth for 2010 is 4.22%, or an increase of approximately $4,965.7 billion, from 2009. Turkey’s 2010 rate of inflation of 6.49% outpaced the World and the Euro Area. The World’s rate of inflation for 2010 is 4.75%. The Euro Area’s rate of inflation 2010 is 0.99%.[iii]

The 2010 GNI per capital for Turkey is $9,890. This amount represents an increase of $20 from 2009, or 0.2%. The 2010 World GNI is $9,116, or a 4.37% increase from the prior year. The 2010 Euro Area GNI is