Economy of Turkey

Main article: Turkey

GDP

Main article: Turkey's GDP

Financial system

Non-financial debt

2022: Aggregate non-financial debt

National debt

2023: State debt - 31% of GDP

2017: Low public debt of 28% of GDP

Gold and foreign exchange reserves

2026: Turkey spent $12 billion in a week to stabilize the lira. Reserves along with gold about $200 billion

In early March 2026, Turkey spent $12 billion (≈15% of foreign exchange reserves) in a week to stabilize the lira amid global volatility caused by the US and Israeli attack on Iran.

The Central Bank tightened liquidity, and banks sold dollars, which allowed the lira to remain relatively stable, unlike most emerging currencies.

The reserves of the Central Bank of Turkey amount to $78.4 billion (excluding swaps), along with gold - about $200 billion, which, according to analysts, is enough to continue operations to support the currency at the moment, but prolonged geopolitical shocks can increase risks for the Turkish lira and bonds.

2025

10th in gold reserves: 669.81 tons

Currency reserves cut to less than $50bn due to sales to support lira after Istanbul mayor's arrest

In March 2025, the Central Bank of Turkey used its foreign exchange reserves to stabilize the Turkish lira and markets after the arrest of the mayor of Istanbul.

The bank's intervention, during which about $25 billion was spent, helped stop the fall of the lira.

2023

Net foreign exchange reserves of the Central Bank of Turkey turned negative for the first time since 2002

Decrease in foreign exchange reserves

The rise of gold imports in Switzerland

Swiss gold exports to Turkey reached their highest level in 11 years in January 2023.

More than 58 tonnes of gold were shipped to Turkey in January, according to Swiss customs. This is the highest volume since January 2012 and 42% of Swiss gold exports.

2022

The largest gold purchases in the world and an increase in reserves to 542 tons

Gold as an inflationary hedge in 2022 made Turkey the largest buyer of the metal in the world. The gold reserves of the Central Bank reached a record level, the official figure was 542 tons, an increase of 148 tons.

Swiss gold exports to Turkey reached their highest level in 11 years.

Households have also rushed to purchase the commodity to guard against geopolitical uncertainty and soaring inflation.

Reduction of reserves to $61.2 billion excluding gold

In May 2022, Turkish reserves lost a "shocking" $4.8 billion in just one week.

As a result, total reserves, not including gold reserves, reached a 10-month low of $61.2 billion.

Even as Turkey's state-owned banks have occasionally intervened in foreign exchange markets, the lira is performing worse among emerging markets against the dollar in 2022, losing more than 16% by mid-May.

2021: Net foreign assets negative again

Turkey's net foreign assets in December 2021 again turned negative - minus $5.1 billion.

2020

Qatar saves Turkey from currency collapse

Turkey, which was on the verge of a currency collapse with a rapid fall in the lira and almost empty reserves of the Central Bank, received long-awaited assistance.

On May 20, 2020, the Turkish Central Bank announced the conclusion of a swap agreement for 15 billion with the dollars Central Bank of Qatar.

As part of the deal, the Central Bank of Turkey will be able to attract dollars in the oil and gas emirate, where $220 billion of foreign currency assets have been accumulated for 2.7 million people, including both the reserves of the central bank and the $170 billion sovereign wealth fund.

Turkish Central Bank reserves negative (- $13.5 billion), crisis amid COVID-19 pandemic

The volume of net international reserves of the Turkish Central Bank fell even deeper into the negative zone and reached -13.5 billion dollars as of the end of April 2020, which means that the bank's debt exceeds its reserves. Despite the fact that this situation has been observed since March 2019, the recent weakening of the lira against the dollar and the "freeze" global economy due to the coronavirus pandemic crisis COVID-19 have led to a significant deterioration in the investment attractiveness of the Turkish market for foreign investors.

Like most countries of the world, Turkey has been seriously affected by the COVID-19 pandemic and the consequences of measures to combat the spread of the disease - large-scale business suspensions. Thus, the utilization of the country's production capacity in April 2020 fell to 61.6% - the lowest level since the global financial crisis. The PMI fell to 33.4 points, a historic anti-record since June 1997. Indices of consumer confidence and entrepreneurial optimism also fell sharply. The economic shock triggered by the pandemic crisis hit the Turkish market at a time when it had barely begun to recover from two previous difficult years for it.

Due to the need to support the market in connection with the new crisis, Turkey's budget deficit increased to 3% (compared with 1.1% at the end of 2016). A drop in income in the tourism sector, equivalent to about 4% of GDP, and an increase in the current account deficit due to a decrease in export volumes also significantly worsened the business climate in the Turkish market.

Due to the unfavorable market situation, the exchange rate of the lira fell against the dollar to a record low of 7.24.

Turkey has blamed foreign bankers for the collapse of the lira and banned UBS, Citigroup and BNP Paribas from handling transactions in lira. The same charges were brought during the 2018 currency crisis. Then the lira depreciated by 30%.

Turkey's industrial production sector always reacts sharply to fluctuations in the exchange rate due to its dependence on imported raw materials, for which settlements are made in dollars. Metallurgy, the auto industry, chemical, textile and pulp and paper industries will suffer especially strongly from the weakening of the lira, analysts at Coface say.

Currencies

Turkish lira

Main article: Turkish lira

Cryptocurrencies

Main article: Cryptocurrencies in Turkey

Inflation

Main article: Inflation in Turkey

Key rate

2025: Rate cut to 39.5%

In October 2025, the Central Bank of Turkey for the first time in two years reduced the interest rate below 40% - from 40.5% to 39.5%.

In July 2025, the Central Bank of Turkey cut the rate to 43%, while the market expected a decrease to 43.5%. The previous rate is 46%.

2024: Rate increase to 50%

On March 21, 2024, the Central Bank of Turkey raised the key rate to 50%.

On January 25, 2024, the Central Bank of Turkey raised the key rate to 45%. This is the eighth consecutive promotion.

2023: Rate increase to 42.5%

On December 21, 2023, the Central Bank of Turkey raised the discount rate from 40% to 42.5%.

On November 23, 2023, the Central Bank of Turkey raised the key rate from 35% to 40%.

On October 26, 2023, the Central Bank of Turkey raised the discount rate from 30% to 35%.

On September 21, 2023, the Central Bank of Turkey raised its key rate for the fourth time in a row - from 25% to 30% - a record figure since 2003.

On August 24, 2023, the Central Bank of Turkey raised the key rate from 17.5 to 25%.

Earlier on June 22, 2023, the Central Bank of Turkey raised the key rate for the first time in more than two years - from 8.5% to 15%.

Earlier, the Central Bank of Turkey in February 2023 lowered the key rate by 50 bp, to a mark of 8.5% per annum.

2022: Rate cut to 9%

On November 24, the Central Bank of Turkey reduced the discount rate from 10.5 to 9% per annum.

Earlier on October 20, 2022, the Central Bank of Turkey reduced the rate from 12 to 10.5% per annum.

Earlier on September 22, 2022, the Central Bank of Turkey once again reduced the interest rate: from 13% to 12%.

Earlier on August 18, 2022, the Central Bank of Turkey reduced the key rate by 100 bp to 13% per annum. Analysts are surprised by this decision and consider it strange at inflations 80%. The national currency after this decision fell below the mark of 18 lira for. dollar

2021: Rate cut from 19% to 14%

On December 16, 2021, the Central Bank of Turkey reduced the key rate by 1% to 14%.

On November 18, 2021, the Central Bank of Turkey, against the background of a record fall in the lira, announced that it had reduced the discount rate to 15% from 16%.

On October 21, 2021, the Central Bank of Turkey (CBRT) announced a rate cut of 200 basis points to 16% from 18%.

The market expected a 100 basis point rate cut to 17%.

On September 23, 2021, the Central Bank of Turkey unexpectedly decided to reduce the discount rate from 19 to 18%, creating the risk of further volatility of the lira against the background of high inflation and reflecting the long shadow cast by President Erdogan on the monetary policy. LIRA fell.

The fall in the lira keeps inflation (up to 19.3% in August) in Turkey at double-digit levels since the end of 2019.

In March 2021, the Central Bank of Turkey raised the discount rate from 17% to 19%. The regulator said it was proactive, taking into account the risks of rising inflation expectations, rising prices and medium-term inflation prospects.

Immediately after that, Turkish President Erdogan fired the third head of the national regulator in less than two years. The order to dismiss Naji Agbal came out two days after the meeting of the Central Bank, at which the rate in conditions of faster inflation rates was raised above expectations to a total of 19% per annum. The new head is Shahab Kawchioglu, a professor at the university in Marmar. He is considered a staunch supporter of low rates and actively criticized the latest actions of the Central Bank team, which came to the bank only in November 2020.

2020

In December 2020, the Central Bank of Turkey raised interest rates by 2 percentage points to 17%.

In November, the Turkish Central Bank raised rates by 4.75% percentage points from 10.25% to 15%.

The Central Bank of Turkey made a decision on September 24, 2020 to raise the key rate from 8.25% to 10.25%, the regulator reports.

The decision to raise the key rate was made against the background of a significant drop in the Turkish lira against the dollar over the past month - from 7.34 to 7.70. The last time the regulator changed the key rate on May 21, lowering it to 8.25% per annum from the previous 8.75%.

Budget

2023: Budget deficit rises after devastating earthquake

2019: Rising budget spending

Budget spending in the first and second quarters rose 3.1% and 1.9%, respectively. To help recover sectors, especially those affected by turbulence in the foreign exchange market, the Turkish authorities have introduced a number of tax breaks, and, despite the stabilization, Turkey is in no hurry to cancel these benefits, which has a positive effect on business activity in a number of industries.

Stock market

Main article: Istanbul Stock Exchange (Borsa Istanbul)

Banks

• Isbank

2023: Bank terminals for payment with Mir cards began to be introduced in Turkey

By the beginning of November 2023, Russian banks began to install acquiring terminals in Turkey to pay for purchases with Mir cards. According to Ilya Romanov, head of trade acquiring at Tochka Bank, as of November 2023, no more than five Russian credit institutions are doing this. He clarified that the client is conducting an operation by analogy with how this is done in the Russian Federation. Romanov pointed out that, as a rule, terminals of Russian banks are installed in those places where there is a flow of travelers from Russia, for example, in hotels, catering, souvenir shops, shops, excursion bureaus and pharmacies. Read more here.

2022: Record bank profits amid inflation crisis

In 2022, Turkish banks were among the largest winners who emerged from the worst inflation crisis under President Recep Tayyip Erdogan and received record high profits.

2021: New foreign currency deposit record: $239 billion

At the end of 2021, Turkish investors are still clinging to foreign currency, undermining President Recep Tayyip Erdogan's plan to support the lira without raising interest rates.

In the seven days to December 24, companies increased their foreign currency reserves by about $1.6 billion, taking advantage of a rally that almost doubled the value of the lira that week.

Although households have reduced their positions by just over $100 million, dollars this has hardly affected the total volume of foreign currency deposits, which has grown to a record $239 billion, according to the latest data from the Central Bank.

Card Payment System

• Troy

Transport infrastructure

• Istanbul Airport
• Istanbul (shipping canal)

• Middle Corridor (Trans-Caspian International Transport Route)

Ports

2021:2 ports in the 10 largest in Europe in terms of cargo turnover

Minerals

Oil and gas production

Main article: Oil and gas production in Turkey

Gold mining

2025: Discovery of a new $1.7 billion gold deposit

In the province of Sivas in the eastern part of Turkey, a gold deposit was discovered with a potential volume of 424 thousand ounces or $1.7 billion at the exchange rate. This is stated in November 2025 in the message of the mining company Ermaden. The company owns a license to develop more than 5.8 thousand hectares of territory in Kangal County in Sivas Province. 360-point core drilling was performed. Analysis of cores revealed that the deposit could potentially contain up to 14 million tons of ore with a metal content of 0.89 gr per ton. Calculations revealed the presence of 424 thousand ounces (about 12 tons) of gold.^[1]

2024: World No. 9 for cobalt production - 2,700 tonnes

In 2024, Turkey took 9th place in cobalt mining (2,700 tons). Such data are provided in the Investing News Network, which TAdviser got acquainted with at the end of November 2025. Read more here

Power

NPP

• Akkuyu NPP

• Sinop NPP - In February 2024, the head of Rosatom"" Alexey Likhachev with reference to the president Turkey said that a "political decision" had been made construction on the state corporation of the second nuclear power plant in the country.

"We are now in the process of learning the details. Most likely, it will be a site called "Sinop" - not on the Mediterranean, but on the Black Sea. "

Rosatom also does not exclude the possibility of participating in a tender for the construction of a third nuclear power plant in Turkey, the head of the state corporation said.

2025: LNG Supply Contracts Increase

At the Gastech conference in Milan in September 2025, Turkey signed eight contracts for the supply of LNG, providing access to 6 billion cubic meters of gas per year - almost half of the country's imports in 2024.

The deals "will help reduce dependence on Russia and Iran," meet projected demand until 2030 and give Ankara the opportunity to resell surpluses in foreign markets.

2024: Pipeline Gas and LNG Imports

2022: Construction of the world's largest wave power plant

On December 8, 2022, an agreement was signed on the construction of the world's largest wave power plant. The project will be attended by Eco Wave Power Global AB from Sweden and OREN Ordu Enerji, which is based in Turkey. Read more here.

2021: Natural gas is the main source of energy in the country

2020

Turkey's renewable energy capacity hits record 49GW

Turkey added the largest renewable capacity in one year in 2020 at about 4.8 GW, bringing renewables to 49 GW out of 95 GW of its total installed capacity.

The record increase in the number of new renewable energy power plants was driven largely by investors' desire to launch projects online in time to receive preferential tariffs under the Renewable Energy Support Program, which was set to expire on December 31, 2020. Half of the additional renewable energy capacity in 2020 came from hydroelectric plants, while wind, solar and biomass accounted for the rest, Anadolu said.

The new green power plants attracted investments totaling US $7 billion. A staggering 99.6% of Turkey's new capacity has been built on renewable energy, according to official 2020 figures.

Low per capita energy consumption

and

Automotive market

2021

Driving penalty with phone in hand €26

780 thousand cars produced

Foreign trade

Main article: Turkish Foreign Trade

Business in Turkey

Main article: Business in Turkey

Turkey ICT Market

Main article: Turkey's ICT market

Investment abroad

2025: Biggest Turkish investors in Russian economy - Ant Yapi, Hayat Holding, Koc Holding, Sisecam Group

According to an analysis published on June 6, 2025 by NSP Law Office, the largest Turkish investors in the Russian economy were four companies with a total investment of more than ₽89 billion. Ant Yapi leads with over ₽35 billion in investments, followed by Hayat Holding with ₽24,5 billion, Koc Holding with ₽20 billion and Sisecam Group with ₽10 billion. The report notes that investments cover various industries - from construction and woodworking to industry and glass production. Read more here

2024: 10th largest direct investment in Kazakhstan - $597.9 million

In April 2025, the report of the UN Economic and Social Commission for Asia and the Pacific (ESCAP) was published, from which the volume of direct investment in Kazakhstan by the end of 2024 became known. Read more here.

2020: Turkey claims billions in losses of its companies in Libya

In December 2020, Abdurrahman Bilgich, a member of the Turkish Democracy and Breakthrough Party (DEVA), said that Libya those who invested in companies Turkey from 2011 suffered large losses due to the civil war and could not collect receivables. According to him, the total amount of pending projects put up for auction in the country amounted to 19 billion, and dollars Turkish firms pay huge sums to mercenaries from Children and Niger to protect their facilities.

In August, Turkey and the PNS signed an agreement to expand trade and economic ties. It was also supposed to solve problems with Turkish projects that began during the time of Gaddafi and stopped by the Libyan civil conflict.

But Abdurrahman Bilgic called this document a "dummy," which does not oblige Libyan companies to return debts to Turkish investors: the official claims that four months later, not a single company from Turkey managed to get its money back.

R&D

2020: R&D spending - $15.3 billion

Agriculture

2024

3rd in the world for cucumber production - 1.78 million tons

In March 2026, TAdviser prepared an infographic on the largest cucumber producing countries. This material is based on statistics from the UN Food and Agriculture Organization (FAO). Read more here

1st in the world in terms of export of dried apricots - $404.49 million

Turkey took the 1st place in the world in terms of export of dried apricots, which in 2024 delivered products worth $404.49 million. This is evidenced by the data of the Grand View Research study, the results of which TAdviser got acquainted with in early December 2025. Read more here

10th in the world for wheat production - 19 million metric tons

In early December 2025, TAdviser, based on data from the U.S. Department of Agriculture's (USDA) External Agricultural Information Service, produced an infographic showing a list of countries with the largest wheat production. Turkey took 10th place in wheat production with an indicator of 19 million metric tons. Read more here

1st place in the production of apricots in the world - 800 thousand tons

At the end of 2024, Turkey took first place in the production of apricots with an indicator of over 800 thousand tons of products. This is stated in the materials with which TAdviser got acquainted in mid-November 2025. Read more here.

2021

18.1% of workers are employed in agriculture

Share of agricultural land - 50%

2019: Low use of pesticides in agriculture

Industry

Food industry

2021: Cheese production - 8.9 kg per capita

Milling and cereal industry is the largest in the world

2022: Processing Russian and Ukrainian grain and selling flour and pasta

In 2021, Turkey imported 9.4 million tons of wheat, including 6.3 million tons from Russia and 2 million tons from Ukraine, ranking second in grain imports in the world after Egypt. At the same time, Turkey's own wheat production - about 20 million tons, fully covers the internal needs of the state.

Where does imported Russian and Ukrainian grain go? Over the past 10 years, the Turks, using the entire range of state support mechanisms for private enterprises, have brought the country's flour and cereal industry to the first place in the world in terms of flour production (30% of the world market) and to the second place in terms of pasta production (10% of the world market).

In Turkey, they process Russian and Ukrainian grain, and then sell products of its processing.

The start of a special military operation of the Russian Armed Forces on the Ukrainian Republic, sanctions on the supply of Russian products and the blockade of Ukrainian ports - all this in combination caused a serious blow to the income of Turkish flour producers, forcing them to purchase grain on the world market at inflated prices with an increase in transport costs.

Turkish industrialists, both directly and through lobbyists, put pressure on the Turkish government, because very serious money was at stake.

At the end of July 2022, an agreement was concluded in Istanbul by Russia, Turkey and Ukraine on the transportation of Ukrainian grain from the Black Sea ports and on the promotion of Russian exports of food and fertilizers. The main intermediaries of the deal were the Turks.

For the Turks themselves, the settlement of the situation made it possible to play the "peacemaker" card, but in fact, the "grain deal" provided, first of all, private commercial interests, to which political intelligence was adjusted.

Turkish Defense Minister Hulus Akar: "There are food and fertilizers in the ports of Russia. We as Turkey will be very happy if we contribute to the work on their export. We are ready to assist Russia in this. "

Jalal Kadooglu, head of the Association of Exporters of Grain, Legumes, Oilseeds and Products of Southeastern Anatolia: "Turkish companies are ready to process grain and other food blocked in the Black Sea ports due to the war between Ukraine and Russia. Ukrainian or Russian grain processed in Turkey can then be supplied to other parts of the world. "

The head of the agriculture commission of the Turkish parliament, Yunus Kylych: "Turkey, on the basis of the agreements reached in Istanbul with Russia and Ukraine, will be able to import grain, which will be transported by sea at prices below world prices. This agreement was not included in two documents signed separately by Russia and Ukraine with the UN and Turkey. "

Kylych explained that such a promise was made orally by two ministers from both countries. He noted that thanks to this, the importer will gain an advantage in the purchase of grain and the formation of prices for them.

When the need came, the Turkish state apparatus took care of protecting the interests of domestic producers in the foreign market.

Metallurgy

2024: Raw Steel Production - 37 Mt

Tourism

• Main article: Tourism in Turkey

Cinema

Main article: Cinema of Turkey

M&A

Main article: Mergers and Acquisitions (M&A) in Turkey

Real estate

Main article: Real estate in Turkey

Drug smuggling

2022

Land routes of drug trafficking from Afghanistan to Turkey

In 2021-2022, there was an increase in the level of opiate production in Afghanistan under the Taliban authorities.

This was expected against the background of the lack of international recognition of the so-called "Islamic Emirate of Afghanistan" and the impossibility of wide cooperation between the country's authorities and the outside world under the current conditions, wrote the Rybar telegram channel.

This situation created an uncontested situation for the cultivation of opiates. After all, drug trafficking revenues make up a significant part of both the country's budget and the income of ordinary members. "Taliban

However, the dramatic increase in opiate production creates another complexity in the form of shipping routes from Afghanistan. Yes, there is a "northern path" through the Vakhan corridor and the Fergana valley, but due to the mountainous terrain, it is almost unrealistic to transport a large amount of "goods" at a time.

But there is also an alternative corridor that is actively used to supply Afghan products to Europe.

The path passes through the Afghan province of Nimruz, bordering the conditional homeland of poppy fields - Helmand. It is there that smugglers, under the supervision of Taliban members, assemble the caravan before it is sent.

Refugees or specially hired people are used to cover, who are formed into columns right on the border with Iran and Pakistan. After that, they are put forward in two directions: towards Iranian Zabol and Pakistani Nok-Kundi.

From there, they advance through poorly guarded sections of the border on agreements with Iranian border guards and members of Baloch separatist organizations in Balochistan to Zahedan.

Then the organized columns along the already pre-agreed route in Iran move towards Iraq and Iraqi Kurdistan. There, the caravan can split and go through the eastern part of Iraq, and another through Iranian Kurdistan to Suleimaniya, followed by the transition to the Ibrahim Khalil checkpoint on the border between Iraq and Turkey.

Why is this route profitable?

This path is more dangerous in terms of security due to the need to cross the territories of several countries. Each caravan is planned for several months, selection of "couriers," preparation of false documents and bribery of the right people are carried out.

However, when all conditions are met, disguising as refugees allows you to transport much more cargo, unlike the "northern route." The territories of Iran and Iraq for the most part are sparsely populated areas of deserts and semi-deserts, which allows you to move unnoticed.

Finding the right people in Afghanistan and Pakistan is also not a problem: everyone involved in transportation is paid significant fees in dollars, which they will never be able to earn with honest labor in their lives.

A multi-year counterterrorism operation against Kurdish forces in northern Syria and Iraq created the necessary tension and state of the paramilitary in southeastern Turkey. The existing buffer zone in these territories is partly controlled by Turkish military personnel, as well as paramilitary forces on the side of Turkey, which exercise conditional control in these areas. This created favorable conditions for the secretive transportation of any cargo through Iraq to Turkey. And the principle of "war will write everything off" allows you to freely engage in smuggling and earn money on the side of those interested.

Why is everything closing in on Turkey?

Turkey's geographical position between Europe and Asia, as well as access to the Mediterranean and Chyorny Seas, turned it into a hub for the transit of various products, including for the transportation of drugs.

Upon arrival in Turkish territory through paid border guards, the cargo is distributed to the destination endpoints. Depending on the direction, the most optimal delivery method is chosen. In most cases, this is maritime transport due to its invisibility.

And from Turkish ports, opiates are exported to consumers in Europe through the Balkan states and to the countries of North and Latin America.

Drug smuggling through Turkish ports gives Turkey political leverage over other countries

A significant part of the supplied narcotic substances to world markets from Afghanistan goes through Turkish ports. Ports are a large cargo flow and, as a result, huge cash flows and significant amounts of bribes and a high level of crime. And in ports with transcontinental transportation, all this increases multiply, and it is almost impossible to stop this, since no one is simply interested in it.

This algorithm was laid down in past centuries. In the 1930s, gangsters actively fought for control of the ports, as most of the supply of smuggled weapons, alcohol and opiates went by sea. Whoever owned the sea owned everything.

Transnational groups use sea harbors in Turkey due to the volume of cargo turnover using transport and merchant ships and stealth during transportation. The process itself has long been debugged.

Port workers and security forces are bribed in advance. Almost every employee - from the lowest position to the highest - "is in care." All participants perform a strictly assigned role.

Turkey is completely tied to smuggling and illegal cargo traffic. And the eastern mentality inherent in the Turks also allows you to do everything, guided by the principle "you want - you don't want, but the goods will be delivered." And the desire to make relatively easy money outweighs all possible consequences.

To divert the eyes of the Coast Guard unit or the naval forces of the countries Europe , they conduct duty searches and detentions on ships and boats of small smugglers in order to create the appearance of struggle.

In addition to ports, Turkey geographically controls the Bosphorus and Dardanelles, which are among the main links between Europe and Asia.

The country became a kind of checkpoint before then being sent to Europe and North America. Flocking caravans from the East transit Turkey and head to their destinations.

One important role in the black market allows Turks to influence certain political and economic processes, especially in countries dependent on it. This successfully correlates with the current policy of the Turkish authorities to revive the Ottoman Empire, the Rybar channel wrote in December 2022.

Promoting its policies in the Balkans, supporting and financing the necessary paramilitary forces, strengthening influence on the African continent - all this became possible largely due to the control of transit.

Labour market

2023: 8.9% of the population is not working full-time

2022: Proportion of workers aged 65 or over - above 10%

2019: Average labor productivity - $43.69 per hour

2015: More than 23.3% of workers work 60 or more hours a week

Unemployment

2023: Youth unemployment 17%

2020: Unemployment rate - 14.6%

Incomes of the population

2024: Minimum wage rises to $627. More than 30% of the population receive the minimum wage

Turkey has raised the minimum wage by 30% since the beginning of 2025. Labor Minister Vedat Ishihan said the minimum monthly wage for 2025 has been raised to 22,104 lira ($627) from 17,002 lira. The increase was in line with market expectations. More than a third of the workforce receives a minimum wage, which also serves as a benchmark for other salaries.

The year before, the salary was increased to $525.

2023: Minimum wage - $457

In response to soaring inflation, Turkey's minimum wage has doubled since January 2022.

2019: Real hourly minimum wage - $6.7

The real hourly minimum wage is the statutory minimum wage paid to an employee for one hour worked, adjusted for inflation. Reflects the purchasing power of hourly earnings.

Pensions

2020: Pension granted from 52 years, real retirement age for men - 61 years, for women - 59 years

Consumption

2023

54% of the population regularly consume sweets

Poultry meat is the most consumed type of meat

2021: There are 14 pet dogs per 1,000 people

2019

Wine consumption - 1 liter per person per year

Low coffee consumption - 0.9 kg per year per person

Poultry meat is the most consumed type of meat

Beer consumption in liters per year per person

Growth in personal consumption

In the first quarter of 2019, the volume of personal consumption in Turkey increased by 1.4% compared to the same period last year, in the second - by another 3%. This favorable trend is the result of a decrease in inflation and the relative stabilization of the lira exchange rate.

2018

Europe's record tea consumption: more than 3kg per capita per year

Milk consumption in liters per year per person

The minimum age to purchase alcoholic beverages is 18 years

Beginning of the 20th century: Borrowing tea tradition from Russia

Turkish tea aesthetics hail from. At Russia the end of the 19th century, tea bushes were brought to the Black Sea coast: first to the Tiflis province of the Russian Empire, and later to the vicinity. Sochi Later, they took root perfectly in the same humid coastal subtropics on the Black Sea coast in the north. Turkey Two teapots are the same "tea couple" that is served in taverns in classical Russian literature: in the lower kettle there is boiling water, in the upper kettle there is a brew. Samovar is generally considered their own in Russia, and in Turkey, and in. There Iran is Istanbul Semaver Street, that is, Samovarnaya.

In the 1920s, after the fall of the Ottoman Empire, Ankara and Istanbul proclaimed the support of a domestic producer with nothing, they say, to drink coffee from inaccessible Arabian plantations, let's replace it with something of our own, relatives. It was then that Black Sea tea, Russian teapots and glasses with saucers came in handy. One of the most beautiful and most famous tea traditions in the world - Turkish - is hardly a hundred and a half years old.

But the Russian tea tradition, which largely influenced it, is much more years old. To begin with, in principle, one of the first tea consumers outside his homeland, China, lived just in Russia, in southern Siberia. One of the sleeves of the Silk Road ran along the local steppes, and tile tea dug with caravan fires was willingly exchanged here for furs and other Siberian goods. Europe (including Moscow) recognized tea in a thousand years.

See also

• Russian economy
• China's economy
• US economy

Notes