TR Economy & Updates

[Huelague]

I guess in one year,maybe 2025 or 2026,that s just a target.

Never ever in just 2 years. Thats ridiculous. Lets assume a tourist revenue of billion 50$ in 2023. You cant double this within 2 years.

 

[Bozan]

1 dollar = 30 lira

Taken from BDDK annual report, probably by now credit card debt is over 1 trillion Liras given the increases over the year.

People are spending more on credit cards at a higher speed, it probably tripled by end of 2023 compared to 2022.

 

[B_A]

Türkiye's current account swings to $2.7B deficit in November

Türkiye's current account balance turned to a deficit in November, the central bank data showed Friday, after two months of surpluses.The shortfall...

www.dailysabah.com

Ankara said in September it expects a deficit of $42.5 billion in 2023 from 2022's $48.8 billion, which was largely driven by energy and gold.

Şimşek said despite the foreign trade deficit being $6 billion below the medium-term program estimate in 2023, they evaluate that the year-end current account deficit will exceed the MTP forecast.

 

[Scott Summers]

1.- Use all the newly discovered oilfields to pay all the creditcard debts in one day. The banks, the people, the working class, all of them would get fresh air and the economy would get a boost and fireworks.

2.- After that raise taxes on food to 10% and non-food to 20%.

3.- Join the BRICS after this because they will soon introduce a BRICS-currency thats gonna replace the ruble, real, rupie, remninbi and rand. Turkey will get a new currency integrated with the economies of Russia, China, India, Brasil and South Africa. The lira will be history together with the bad media coverage.

 

[what]

You must have been classmates with Berat Albayrak.

 

[Scott Summers]

Turkish companies wining African infrastructure, superstructure projects​

Companies have completed 1,864 projects on African continent, says Foreign Economic Relations Board of Türkiye​

Hamza Kyeyune |13.01.2024 - Update : 13.01.2024

​

KAMPALA, Uganda
Turkish companies are rapidly expanding in the African infrastructure sector, creating employment opportunities for hundreds of thousands of workers.

Data from the Foreign Economic Relations Board of Turkey (DEIK) said that in 2023, Turkish contracting companies completed 1,864 projects on the African continent, totaling $85.4 billion in infrastructure and superstructure investments, while Turkish investments in Africa hit $10 billion.

Turkish companies wining African infrastructure, superstructure projects

Companies have completed 1,864 projects on African continent, says Foreign Economic Relations Board of Türkiye - Anadolu Ajansı

www.aa.com.tr

 

[Jammer]

People taking a meme of an organization called BRICS seriously should get an appointment to mental asylum.

 

[Scott Summers]

Türkiye sees 1.22M in house sales in 2023​

Foreigners bought over 35,000 houses in Türkiye last year, with Russian buyers topping the list​

​

ISTANBUL
In 2023, 1.22 million houses were sold in Türkiye, down 17.5% from 2022, the country's statistics authority TurkStat said on Friday.

Istanbul, the country's most populous city, had the lion's share of housing sales with 16.2% or 198,739 units last year, followed by the capital Ankara (114,432 or 9.3%) and the Aegean city of Izmir (65,465 or 5.3%).

Housing sales to foreigners fell 48.1% in 2023 on a yearly basis to 35,005 units.

The Mediterranean resort city of Antalya ranked first in sales to foreigners last year with 12,702, followed by Istanbul with 11,229 and then Mersin, also on the Mediterranean, with 3,016.

Russian citizens bought 10,560 houses in Türkiye in 2023, followed by Iranian citizens with 4,272 and Iraqi citizens with 1,917.

The number of mortgage sales dropped 36.6% to 177,748 units in 2023, while other house sales totaled 1.05 million, down 13%.
Some 379,500 housing units sold last year were new, while 846,384 were pre-owned.

In December alone, house sales in the country dropped 33.4% to 138,577 units.

"In December, house sales to foreigners decreased by 67.7% compared to the same month of the previous year to 2,064," it added.

Türkiye sees 1.22M in house sales in 2023

Foreigners bought over 35,000 houses in Türkiye last year, with Russian buyers topping the list - Anadolu Ajansı

www.aa.com.tr

 

[Bogeyman]

https://twitter.com/i/web/status/1749036891595251850

The size of the software & IT sectors in Turkey has reached 25 billion dollars. Don't listen to those who say that our software developers cannot organize and earn money. Smart people manage to become rich.

 

[UkroTurk]

Türkiye sees 1.22M in house sales in 2023​

Foreigners bought over 35,000 houses in Türkiye last year, with Russian buyers topping the list​

​

ISTANBUL
In 2023, 1.22 million houses were sold in Türkiye, down 17.5% from 2022, the country's statistics authority TurkStat said on Friday.

Istanbul, the country's most populous city, had the lion's share of housing sales with 16.2% or 198,739 units last year, followed by the capital Ankara (114,432 or 9.3%) and the Aegean city of Izmir (65,465 or 5.3%).

Housing sales to foreigners fell 48.1% in 2023 on a yearly basis to 35,005 units.

The Mediterranean resort city of Antalya ranked first in sales to foreigners last year with 12,702, followed by Istanbul with 11,229 and then Mersin, also on the Mediterranean, with 3,016.

Russian citizens bought 10,560 houses in Türkiye in 2023, followed by Iranian citizens with 4,272 and Iraqi citizens with 1,917.

The number of mortgage sales dropped 36.6% to 177,748 units in 2023, while other house sales totaled 1.05 million, down 13%.
Some 379,500 housing units sold last year were new, while 846,384 were pre-owned.

In December alone, house sales in the country dropped 33.4% to 138,577 units.

"In December, house sales to foreigners decreased by 67.7% compared to the same month of the previous year to 2,064," it added.

Türkiye sees 1.22M in house sales in 2023

Foreigners bought over 35,000 houses in Türkiye last year, with Russian buyers topping the list - Anadolu Ajansı

www.aa.com.tr

Currently real estate market is dead due to high interest rates. Stupid people think: they earning money from deposits while they aren't noticing their lira deposits are melting down against inflation.

Currently you could find flats cheaper than their construction costs.

After the election government won't care about value of Turkish Lira, they won't stop increase of exchange rates , they won't give high interest rates to deposits. So people with Turkish Lira will again invest in real estates. Finally the costs of flats will rise.


Nowadays it's best time to buy real estate in Türkiye.

 

[B_A]

https://twitter.com/i/web/status/1749036891595251850

The size of the software & IT sectors in Turkey has reached 25 billion dollars. Don't listen to those who say that our software developers cannot organize and earn money. Smart people manage to become rich.

We had a lot of clever people and good companies.

We just lack the giant enterprise and famous brand.(Baykar is becoming a famous brand in defence industry)

We can produce weapons as good as any G7 or Chinese,that is same in other sector.

 

[uçuyorum]

We make a lot of in house software solutions and not enough open standardized tools that I know of. Video games as a sector seems like its growing nicely and is has more added value, otherwise finance sector seems like it has the bulk of jobs.

 

[Scott Summers]

I see BEKO furniture everywhere in Europe.

 

[B_A]

I see BEKO furniture everywhere in Europe.

White goods?

Beko is a good brand but still not a giant like Panasonic,LG or Hisense.

 

[YeşilVatan]

White goods?

Correct term in English would be home appliances AFAIK

 

[B_A]

Correct term in English would be home appliances AFAIK

Yes.

We now only had one enterprise,Koç Holding,in Fortune Global 500.

We need to have 3-5 companies on the list in the future.

Koç Holding

Koç Holding is Turkey’s largest conglomerate, with sales representing about 8% of the country’s GDP. In 2023, about 40% of its revenues came from its energy businesses, including fuel refining and distribution, while 28% came from its automotive firms, led by joint ventures with Ford (Ford...

fortune.com

Breakdown by country
Rank Country Companies
1 United States 136
2 China 135
3 Japan 41
4 Germany 30
5 France 24
6 South Korea 18
7 United Kingdom 15
8 Canada 14
9 Switzerland 11
10 Netherlands 10

 

[what]

https://twitter.com/i/web/status/1749036891595251850

The size of the software & IT sectors in Turkey has reached 25 billion dollars. Don't listen to those who say that our software developers cannot organize and earn money. Smart people manage to become rich.

Good but still rookie numbers, we need more people in the IT and services sector.

 

[Rooxbar]

Correct term in English would be home appliances AFAIK

Actually Beyaz Eşya is a calque from White Goods in English, which also exists in german as Weiße Ware.

 

[YeşilVatan]

Actually Beyaz Eşya is a calque from White Goods in English, which also exists in german as Weiße Ware.

I didn't know that. Thanks for the clarification.

 

[Bogeyman]

Good but still rookie numbers, we need more people in the IT and services sector.

Pointing out that there are around 100 technoparks in Turkey and more than 200 thousand jobs in the sector, Bağören made the following evaluations:

"Considering our young and talented human resources and the ever-increasing service demand, we expect our industry to grow above average in 2024. According to research, it is estimated that Turkey's software industry revenues will have an annual growth rate of around 10 percent between 2023 and 2028. "This rate is expected to be 5 percent in the world. Therefore, we think that the share of the sector in the global pie will gradually increase."

I made a quote from the news.

I remembered people saying that the software industry collapsed when 5000-10000 software developers from Turkey migrated to Europe and the USA. So, the young population working in software in Turkey does not migrate to Europe. The migration of 5 thousand people out of 200 thousand was not something that should be a problem. We have seen how irrelevant the people who distribute judgment to us are to this sector.