Turkish Economy

Lying partly in Europe and partly in Asia, Turkey is a beautiful country that has ethnic links to the empires of Ottoman, Persian, Greek, Roman and Byzantine. It is a developed country with its capital at Ankara and it has an emerging market. <br />It ranks 17th in the world in terms of nominal GDP and 13th in GDP by PPP (Purchasing Power Parity).<br />It is the founding members of G-20 major economies and Organisation for Economic Co-operative and Development. <br />In the list of top 100 billionaires of Turkey (Forbes List) 21 are women. <br />Labour force participation for the year 2018 is 52.2% while the employment rate is 46.6%. <br />Undergoing Projects<br />Istanbul New Airport which will be complete by 2030 will be one of the biggest airports in the world.<br />Kanal Istanbul which is due for opening in the year 2023 will change the face of waterway of Turkey.<br />Finance<br />One of the targets of Turkish administration is to transform Istanbul into an important financial sector by 2023. <br />Banking accounts for 70% of the financial services in Turkey. <br />There are 51 banks out of which 33 are deposit banks, 13 are development and investment banks and 5 are participation banks. <br />21 banks out of the 51 hold foreign capital and 30% assets are held for foreign investors. <br />Agriculture<br />Agriculture is an important part of the Turkish economy. For the past 15 years their exports total up to $193.4 billion while their agricultural imports total to $189.4 billion. <br />Hazelnuts, cherries, pomegranates, quinces, figs, tomatoes, watermelons, lentils, pistachios, chickpeas, cucumbers, olives and onions are some of their biggest produces.