Turkey’s total export volume grew by 10.2% in 2017, reaching 157.1 billion USD. This is the second best export performance after 2014’s 157.6 billion USD for Turkey. The increase in exports is expected to continue in 2018 as well.
In the first three export markets in 2017, the development also was recorded. Exports to Germany rose by 9.8% to USD 1.3 billion, exports to the UK increased by 10.6% to USD 815 million, and Italy by 9% to USD 757 million. The highest rate of increase in exports was recorded in exports to the following countries: Tunisia (USD 118 million with 64.1% increase), Morocco (USD 177 million with 54.1% increase), Greece (USD 154 million with 51.4% increase), Russia (48.1% with an increase of 326 million USD), Ukraine (with an increase of 34.4% to 152 million USD). In addition to this, a sixfold increase in exports to Iceland and a fourfold increase in exports to Haiti were recorded. The increase in exports to Jamaica, Malta, and Panama is also over 100%. Exports to Liberia, Singapore, and the Dominican Republic also doubled. The average rate of increase in exports to the eurozone was 15.3% (total 6.5 billion USD), while the rate of increase in exports to the African continent was 14.8% (total 1.2 billion USD). The number of exporting companies increased to 69,516.
Logistics is one of the pillars of Turkish export. According to Turkey’s ten months of data, logistics turnover in 2017 increased by 13.7% and reached 12.6 billion USD volume, according to data from the end of this year it is 15 billion USD, as in 2018 it is estimated to reach 20 billion USD.
In the January-November period of 2017, net direct international investment inflows (actual inflows) amounted to USD 9.8 billion. At this point, important works continue in line with the increase of foreign investments. One is the investment climate reform package. Deputy Prime Minister Professor Dr. Recep Akdağ announced the reform package prepared to improve the investment environment, at the press conference held in Çankaya Palace on January 30, 2018. Noting that there are important changes in the reform package regarding the execution-bankruptcy process, Prof. Dr. Recep Akdağ, examining the best examples in the world, said a new bail out agreement system was created. The start-up procedure will go from one transaction to one transaction, the number of transactions will be reduced to 12 transactions and the number of signatures will be reduced from 18 to 1 in construction permits.
Turkey, for renewable energy sources by 2023 at the National Renewable Energy Plan had identified the following objectives; at least 34 GW installed hydropower plant, at least 20 GW installed wind power plant, at least 5 GW installed solar power plant, at least 1 GW installed biomass and at least 1 GW installed geothermal power plant. There has also been a lot of progress towards these goals. 1,100 MW of capacity in Turkey, has the world’s fourth largest capacity after the USA, the Philippines and Indonesia. Construction of 23 geothermal power plants with a total capacity of 614 MW is ongoing. Geothermal investments increased by 45% in 2017 compared to 2016.