TR Economy & Updates

Tornadoss

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According to TUIK Consumer Inflation is 5,46 in March and 61,14 on yearly base.
 

Ravenman

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The largest mineral reserves in the history of the Republic were found in Elazig by the General Directorate of Mineral Research and Exploration (MTA). Good luck to our beloved nation.
PS: A mixed reserve of copper, gold, zinc and cobalt which are really high quality and valuable metals.

Thats my province, the most hardcore nationalist province of the East, but also one of the poorest.
 

what

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Where is Germany?

69,3 Percent of the GDP due to all the Covid loans.

 

Deliorman

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Now this are some good news...


As capital continues to pour in at an unprecedented pace, the Turkish startup ecosystem has left behind its best first quarter to date.
The momentum promoted Turkey to the “Super League” in Europe when it comes to investments, while Istanbul spearheaded the way with the gaming industry.
The Turkish startups secured more than $1.27 billion in 49 investment rounds from January through March, the data from the industry monitor startups.watch showed.
It has approached the amount of the whole of 2021, when over $1.58 billion was invested through a total of 321 tours.
The January-March figure marks the best first quarter ever for the ecosystem, and would still be the highest to date ($505 million) if the investment that the rapid delivery pioneer Getir has received is excluded.

Most of the capital, namely 90% or over $1.14 billion, poured into three startups alone. Getir secured $786 million, followed by Dream Games with $255 million and Insider with $121 million, the startups.watch data showed.
Turkey has thus on a quarterly basis managed to find itself in the league of billion-dollar countries, named the “Super League,” consisting of nations such as the United Kingdom, France and Germany.

Istanbul champion

Turkey has been a champion in gaming investments, said startups.watch founder Serkan Ünsal.
“Considering the investments made in gaming initiatives in the first quarter of 2022, Turkey became the country attracting the most investments in Europe and the Middle East region, while Istanbul became the city drawing the largest amount of investments,” Ünsal told the event to announce the first-quarter results.
The Turkish metropolis thus left behind prominent cities such as London, Oslo and Helsinki, he added.
“Istanbul, which also ranks first in terms of the number of game studios, has clinched its breakthrough in gaming,” Ünsal stressed.
“Gaming startups set a record as the total amount of investments, and in the first quarter, seven startups received investments of $326 million.”

 

Lool

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Now this are some good news...


As capital continues to pour in at an unprecedented pace, the Turkish startup ecosystem has left behind its best first quarter to date.
The momentum promoted Turkey to the “Super League” in Europe when it comes to investments, while Istanbul spearheaded the way with the gaming industry.
The Turkish startups secured more than $1.27 billion in 49 investment rounds from January through March, the data from the industry monitor startups.watch showed.
It has approached the amount of the whole of 2021, when over $1.58 billion was invested through a total of 321 tours.
The January-March figure marks the best first quarter ever for the ecosystem, and would still be the highest to date ($505 million) if the investment that the rapid delivery pioneer Getir has received is excluded.

Most of the capital, namely 90% or over $1.14 billion, poured into three startups alone. Getir secured $786 million, followed by Dream Games with $255 million and Insider with $121 million, the startups.watch data showed.
Turkey has thus on a quarterly basis managed to find itself in the league of billion-dollar countries, named the “Super League,” consisting of nations such as the United Kingdom, France and Germany.

Istanbul champion

Turkey has been a champion in gaming investments, said startups.watch founder Serkan Ünsal.
“Considering the investments made in gaming initiatives in the first quarter of 2022, Turkey became the country attracting the most investments in Europe and the Middle East region, while Istanbul became the city drawing the largest amount of investments,” Ünsal told the event to announce the first-quarter results.
The Turkish metropolis thus left behind prominent cities such as London, Oslo and Helsinki, he added.
“Istanbul, which also ranks first in terms of the number of game studios, has clinched its breakthrough in gaming,” Ünsal stressed.
“Gaming startups set a record as the total amount of investments, and in the first quarter, seven startups received investments of $326 million.”

Honestly, from my point of view
The main reason for the massive investments inflows is the crash of the lira

Turkey in general has a good geolocation: It is close to the largest single market and is cheaper to transport goods to far away countries like the US and Canada compared to Asia; moreover, Turkey can also cheaply sell products to all of Africa and some Asian countries; couple all of this with well-trained workforce and good infrastructure and Turkey is a golden goose for investors. With the recent lira crash, investors can only invest around a million dollars in Turkey can start a business that will generate billions in a matter of years. Another point to mention is that imprts have become way tooo expensive so if you localised a product that is normally imported, not only will you earn billions from exporting abroad but also will obtain a near monopoly on a turkish market of 80 million people

Thus, investing in Turkey rn is sooo cheap and costs are cheap and potential revenues are astronomical. RN, Turkey is becoming the new China of Europe, the Middle East, the USA and Canada, as well as some Asian countries. In other words, Turkey in the near future may have a monopoly on half of the world's population

However of course, lira crash has its severe repercussions as well. The trick is to find the ideal balance and whether they are up to the task or not will be seen by this year's end. That is why Iam saying Erdo is risking a lot; he can win billions or loose billions

Another reason is that foreign comoanies that previously invested in Russia are now escaping and making Turkey their home turf for the reasons stated above
 

Anastasius

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Now this are some good news...


As capital continues to pour in at an unprecedented pace, the Turkish startup ecosystem has left behind its best first quarter to date.
The momentum promoted Turkey to the “Super League” in Europe when it comes to investments, while Istanbul spearheaded the way with the gaming industry.
The Turkish startups secured more than $1.27 billion in 49 investment rounds from January through March, the data from the industry monitor startups.watch showed.
It has approached the amount of the whole of 2021, when over $1.58 billion was invested through a total of 321 tours.
The January-March figure marks the best first quarter ever for the ecosystem, and would still be the highest to date ($505 million) if the investment that the rapid delivery pioneer Getir has received is excluded.

Most of the capital, namely 90% or over $1.14 billion, poured into three startups alone. Getir secured $786 million, followed by Dream Games with $255 million and Insider with $121 million, the startups.watch data showed.
Turkey has thus on a quarterly basis managed to find itself in the league of billion-dollar countries, named the “Super League,” consisting of nations such as the United Kingdom, France and Germany.

Istanbul champion

Turkey has been a champion in gaming investments, said startups.watch founder Serkan Ünsal.
“Considering the investments made in gaming initiatives in the first quarter of 2022, Turkey became the country attracting the most investments in Europe and the Middle East region, while Istanbul became the city drawing the largest amount of investments,” Ünsal told the event to announce the first-quarter results.
The Turkish metropolis thus left behind prominent cities such as London, Oslo and Helsinki, he added.
“Istanbul, which also ranks first in terms of the number of game studios, has clinched its breakthrough in gaming,” Ünsal stressed.
“Gaming startups set a record as the total amount of investments, and in the first quarter, seven startups received investments of $326 million.”

Cool, maybe we'll get some more good video games coming out of Turkey besides Mount & Blade and Lovecraft-inspired FPS.

There's a fair amount of aspiring and fairly talented devs in Azerbaijan who would love the opportunity to set up shop in Istanbul to get their game concepts realized.
 

the

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Unfortunately, the success of these companies have been curtailed by recent policies and the crash in the Lira. I'm sure if there was more of a orthodox approach and thus far lower inflation, one would see a 'boom' in FDI not just into the games industry but also for the wider economy. For example, think of all the cash/outflows from Russia - which could have been highly beneficial for Turkey (In defence on the USA, US officials were promoting the idea of foreign businesses in Russia to re-locate to Turkey). Instead, trillions of dollars have entered other 'BRICS' nations and therefore Turkey has missed out.

Further, there are loads of young, western-oreintated Russians who have recently left or are in the process of leaving Russia. Many of these people would love to re-locate to an EU nation however sanctions have forced them to seek 'refuge' in Armenia, Georgia and various Central Asian countries. In this sense, Turkey has missed out on attracting a substantial number of young and highly educated folk who, coincidentally, are known for their contribution digital/gaming related start-ups.




As previously mentioned, the gaming industry was already experiencing serious expansion, as can been seen by the various number of acquisitions of Turkish firms by gaming giants such as Zynga.

 

Cypro

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GDPs of G20 countries and Turkey.. 2015 and 2021.. It looks like Iran will be in the top ten soon. "İran ekonomisi şahlandı"

1650583433872.png



Also from Wikipedia
1650583735698.png
 
Last edited:

HTurk

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GDPs of G20 countries and Turkey.. 2015 and 2021.. It looks like Iran will be in the top ten soon. "İran resmen ekonomisi şahlandı"

View attachment 42873


Also from Wikipedia
View attachment 42874
Iran's GDP is artificially inflated due to globally rising energy costs. It's not a sustainable development but the Iranians benefit from increased crude oil prices

Iran's annual growth rate:

iran-gdp-growth-annual.png


Iran was in a recession for 3 years in a row.
 

Nilgiri

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GDPs of G20 countries and Turkey.. 2015 and 2021.. It looks like Iran will be in the top ten soon. "İran resmen ekonomisi şahlandı"

View attachment 42873


Also from Wikipedia
View attachment 42874

Iran's GDP is artificially inflated due to globally rising energy costs. It's not a sustainable development but the Iranians benefit from increased crude oil prices

Iran's annual growth rate:

iran-gdp-growth-annual.png


Iran was in a recession for 3 years in a row.

Iran's nominal GDP is inflated by an unrealistic official exchange rate being extrapolated by very skewed unsound trade levels (caused by sanctions etc):

I'm going by world bank:


It seems it was 600 billion around 2012 and then has taken a huge tumble now in USD value since then.

I had quick look into it just now...(Iran GDP estimate in USD).

I think world bank applies what the "actual" exchange rate on market is (~ 3 times lower than official)

IMF uses the official exchange rate and gets 600 - 700 billion USD GDP etc.

What world bank does:




In other areas world bank mentions the official exchange rate GDP:


Gross Domestic Product (GDP) has been estimated at US$628 billion for the Iranian calendar year 2020/21, calculated at the official exchange rate for a population of about 84 million.

=====================================

Still 800 billion dollar budget or whatever makes no sense.

We simply can take planned rial expenditure, look at history of the budget.....and apply either official or actual exchange rate to get in some USD equivalent.

It will not be anywhere close to 800 billion USD.

But then again I do not know what GDP base Iran govt is estimating for itself (could be quite different to IMF and World bank figures).

With highly insular country economies, these conversations are somewhat meaningless in end as there are not even reference points with world trade indicators.

In 2020 Iran exported around 50 billion USD (for a country rich in oil and gas).

That is part of how WB gets the "actual" exchange rate of rial to USD etc.

Because in 2011 it exported almost 150 billion USD in comparison.

With a third of export level now....(to earn and finance say import + CA level etc)....how can economy have stayed at 2011 level etc?....or even grown? It would need huge expansion of other industries and some evidence of productivity there (i.e providing it to world and competing with world references rather than just "domestic").....we simply do not have it.


It is striking case where PPP GDP is more useful comparison regarding other countries.

A recent convo we had on Indonesian thread about the same thing:

 

Lool

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Any news about the trade deal between Turkey and the EU; I saw rumors that it was in the process of being updated, is that right?
 

Zafer

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Türkiye is one of the 14 countries that has an established capacity to produce more than 100.000 megawatts of power, and counting fast. All the while when Türkiye is a net importer of large amounts of fossil fuels. This fact says a lot about the size of Turkish economy which holds the 13th place and can quickly move to 11th place with even the early results of its recent hydrocarbons exploration campaign.
 

TheInsider

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Yesterday Türkiye exported 1 billion and 956 million worth of goods and services. It is an all-time record.
 

AWP

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It is being said that KSA has lifted the trade boycott against TR

there was no official ban on turkish products form the Saudi government , the movement was led by many influential saudi online bloggers . the issue with it that it was a trend to report any one who buy or use turkish products to the government in order to get their approval . we call them ( Watangyya ) , they are patriots but to a disgusting level that they indeed hurt their country ( just like one of the members here who I am not going to mention his name )

as far as I know from some statistics that turkey exports reached to 100 million while saudi exports reached 3 billion , so in fact it will hurt the saudi to have turkish ban on them since turkey have almost very low exports to saudi + the rise of GDP of turkey .
 

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