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Turkish Economy - Coggle Diagram

- - - - In the third quarter of 2023, 81 Turkish startups secured $59.7 million in funding. While the number of investments remained steady compared to the previous year, the total investment amount saw a decline. Key sectors attracting investment included gaming, finance, and artificial intelligence.
    - - In 2021, 55.2% of entrepreneurs involved in TEA planned to use more digital technology to grow their businesses within the next six months. This highlights a significant shift toward digitalization in response to changing market conditions.
    - - The Total Early-stage Entrepreneurial Activity (TEA) rate in Turkey was 15.7% in 2021, indicating that nearly 16% of the adult population is engaged in setting up or running new businesses. This rate increased from 14.2% in 2018, showing resilience in entrepreneurship despite economic challenges.
  - - - As of September 2024, capacity utilization in Turkey’s manufacturing sector was steady at 75.9%. This metric indicates the proportion of potential output that factories and production facilities are utilizing
    - - Manufacturing output in Turkey contracted by 5.4% in the most recent monthly data (August 2024), showcasing a broader slowdown in the industrial sector. The manufacturing sector remains crucial to Turkey’s economy, but recent trends highlight the sector’s struggle amid global economic uncertainty
    - - Turkey's industrial production fell by 4.6% year-over-year in August 2024, marking the second consecutive decline after a 3.7% drop in the previous month. The decline reflects challenges faced by the manufacturing sector, including external and domestic economic pressures
  - - - As of 2024, the household savings rate in Turkey is estimated at around 12.2% of disposable income. This is a notable increase from previous years, reflecting households' efforts to save more amid economic uncertainty
    - - In 2023, Turkey's gross domestic savings amounted to approximately $159.45 billion. This figure represents a slight increase compared to previous years and indicates an ongoing trend of increasing savings in the economy
    - - The total amount of private savings in Turkey reached about $141 billion in 2023. This statistic underscores the importance of private savings in contributing to the overall savings landscape in the country
  - - - Turkey's grain production, including wheat, is forecast to decline in the marketing year 2024/25 due to drier-than-normal weather. This will affect overall grain output, which has been a critical part of Turkey's food security and export potentia
    - - Sunflower seed production is also expected to drop significantly, reaching the lowest level in almost a decade, primarily due to extreme drought conditions in key growing regions, particularly in northeastern Turkey
    - - Agriculture, forestry, and fishing contribute approximately 6.6% to Turkey's Gross Domestic Product (GDP) as of 2023, reflecting the sector's importance despite ongoing urbanization and industrialization efforts
  - - - The participation rate in tertiary education has been steadily increasing. In 2021, around 47% of the population in the 18-24 age group was enrolled in higher education institutions. This rise is partially due to Turkey’s focus on expanding higher education infrastructure.
    - - As of 2022, the enrollment rate in primary education is 93.4%, while secondary education (ages 14-17) has an enrollment rate of 88.4%. These figures reflect significant access to education for younger students, but there is still room for improvement in secondary education coverage.
    - - The adult literacy rate in Turkey has improved over the past decade, reaching 97.5% by the end of 2021, which represents major progress in educational attainment across the population.
  - - - The unemployment rate in Turkey was recorded at 8.4% in May 2024, a slight improvement from previous months
    - - In the second quarter of 2024, total employment stood at approximately 32.7 million people. Of this, around 27.8 million were employed in non-agricultural sectors, reflecting the country's industrial and service sector focus
    - - As of August 2024, Turkey's labor force reached 35.8 million people, slightly down from 35.84 million in the previous month. This includes all employed and unemployed individuals actively seeking work
  - - - Services exports were 34.8 billion dollars in
        2021, and imports were 27.9 billion dollars
    - - For 2024, the total value of exports was approximately $254 billion, while imports were about $363 billion, leading to a trade deficit of over $109 billion
    - - : Turkey's exports were valued at $22.5 billion, showing a 13.8% increase compared to the previous year. Imports, on the other hand, were $29.8 billion, which reflects a 7.8% decrease
    - - Turkey recorded a foreign trade deficit of $5 billion in August 2024. Exports increased slightly by 2.3% to $22 billion, while imports decreased by 10.7% to $27 billion
- - - - State-Led Economic Growth:
      - Foreign Aid and Infrastructure Projects (Marshall Plan)
      - Import Substitution Industrialization
  - - - Liberalizing the economy and promoting free-market principles
      - Customs Union with the European Union
      - Privatization of State Enterprises
  - - - Within the framework of the principle of national economy, it was envisaged that an
        entrepreneurial class to be supported by the state and development would be achieved in this way.
      - Establishment of Turkiye İş Bankası
      - Legislation was made to encourage private
        entrepreneurship
- - - - Menarini Türkiye https://www.menarini.com.tr
      - Acıbadem Healthcare Group https://www.acibadem.com.tr
      - Acıbadem Healthcare Group https://www.acibadem.com.tr
      - Abdi İbrahim https://www.abdiibrahim.com.tr
      - Deva Holding https://www.deva.com.tr
    - - Vodafone Türkiye https://www.vodafone.com.tr
      - TTNET https://www.ttnet.com.tr
      - Turkcell https://www.turkcell.com.tr
      - TurkNet https://www.turk.net
      - Türk Telekom https://www.turktelekom.com.tr
    - - Acun Medya https://www.acunmedya.com
      - Taff Pictures https://www.taffpics.com
      - TIMS Productions https://www.tims.tv
      - Ay Yapım https://www.ayyapim.com
      - BKM (Beşiktaş Kültür Merkezi) https://www.bkmonline.net
    - - TED (Turkish Education Association) Koleji https://www.ted.org.tr
      - Uğur Okulları https://www.ugurokullari.k12.tr
      - Bahçeşehir Koleji https://www.bahcesehirkoleji.com
      - Kültür Koleji https://www.kultur.k12.tr
      - Doğa Koleji https://www.dogakoleji.k12.tr
    - - Akbank https://www.akbank.com
      - Yapı Kredi Bankası https://www.yapikredi.com.tr
      - Garanti BBVA https://www.garantibbva.com.tr
      - Halkbank https://www.halkbank.com.tr
      - Türkiye İş Bankası (Isbank) : https://www.isbank.com.tr
  - - - CP Türkiye https://www.cpturkiye.com/
      - Şeker Piliç http://www.sekerpilic.com.tr
      - Banvit https://www.banvit.com.tr
      - Tavvuk https://www.tavvuk.com.tr
      - Ekol Besicilik http://www.ekolbesicilik.com.tr
    - - GMS Güllük Marine Seafoods https://www.gmsseafoods.com
      - Dardanelhttps://www.dardanel.com.tr
      - Akuvaturhttps://www.akuvatur.com
      - Kılıç Holdinghttps://www.kilic.com.tr
      - AquaTurkishhttps://www.aquaturkish.com
    - - Asya Sera(https://asyasera.com/)
      - Gökkale Seracılık (http://gokkale.com.tr/seracilik.html)
      - Erkby Tarım(http://www.erkby.com/)
      - Agronet Seracılık (https://agronet.com.tr/)
      - Türkeli Seracılık(https://www.turkelisera.com.tr/)
    - - Uyum Ormancılık(https://uyumormancilik.com.tr/#welcome)
      - Kuzey Mühendislik Ormancılık http://kuzeymuhendislik.com.tr/
      - Ekin Ormancılık (https://www.ekinormancilik.com/)
      - Akasya Mühendislikhttp://akasyamuhendislik.com/
      - Eta Ormancılık https://www.antalyaormanizni.com/
    - - Progen Tohum A.Ş.https://www.progenseed.com/
      - Ulusoy Tohumculukhttps://www.ulusoyseed.com.tr/
      - May Agro Tohumculuk Sanayi ve Ticaret A.Ş.https://www.may.com.tr/
      - Vilmorin-Mikado Tohumculuk https://www.vilmorinmikado.com.tr/
      - Akdeniz Tohum San.ve Tic. Ltd. Şti.
  - - - Marmara Kağıt
      - Konya Kağıt
      - Alkim Kağıt
      - Mopak Kağıt
      - Kipaş
    - - Epsilon Yayıncılık
        https://www.epsilon.com.tr
      - İş Bankası Kültür Yayınları (İş Bank Cultural Publications)
        https://www.iskulturyayinlari.com
      - Alfa Yayınları
        https://www.alfayayinlari.com
      - Can Yayınları
        : https://www.canyayinlari.com
      - Timaş Yayınları
        https://www.timasyayinlari.com
    - - Starwood Orman Ürünleri https://www.starwood.com.tr/
      - SFC Orman Ürünleri https://www.orsiad.com.tr/sfc-entegre-orman-urunleri-san-tic-a-s.html
      - Yonga Mobilya https://www.yongamobilya.com/en/
      - AGT Ağaç Sanayi ve Ticaret https://www.agt.com.tr/tr
      - Kastamonu Entegre https://www.kastamonuentegre.com/tr_tr
    - - Çolakoğlu Metalurji A.Ş.
        www.colakoğlu.com.tr
      - Habas Sinai ve Tibbi Gazlar İstihsal Endüstrisi A.Ş. www.habas.com.tr
      - İskenderun Demir ve Çelik A.Ş. (İSDEMİR)
        www.isdemir.com.tr
      - Kardemir (Karabük Demir Çelik Sanayi ve Ticaret A.Ş.) www.kardemir.com.tr
      - Erdemir (Ereğli Demir ve Çelik Fabrikaları T.A.Ş.) www.erdemir.com.tr
    - - Kelebek Mobilya https://www.kelebek.com/
      - İpek Mobilya https://www.ipekmobilya.com.tr/
      - Doğtaş https://www.dogtas.com/tr
      - Alfemo https://alfemo.com.tr/
      - Bellona https://www.bellona.com.tr/