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
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
2024: Inflation rises to 75.5% in May and declines to 60% in July
Inflation in Turkey in May 2024 accelerated to 75.5%.
Inflation in Turkey in February 2024 reached 67.1% and exceeded forecasts, reaching a 15-month high.
2023: Inflation drops and rises to 61% after presidential election
Inflation in Turkey accelerated in September 2023 in line with forecasts and for the first time in 2023 exceeded 61%, as rising energy costs complicate efforts to curb domestic demand with a sharp increase in interest rates.
Turkey's inflation rate rose to 58.94% in August 2023, the highest since last December.
Inflation in Turkey in July 2023 ended an eight-month slowdown and moved to sharp growth, which the central bank predicts will peak in mid-2024.
Consumer prices jumped 47.8% year-on-year, up from 38.2% in June.
Monthly inflation of 9.5% was the highest since January 2022 and was the fastest for July in 60 years.
Transportation costs showed the largest growth for the month, reflecting the fuel tax hike introduced last month. Pressure on prices increased after the lira began to decline sharply after the May presidential election.
Earlier, inflation in Turkey slowed for the first time in a year to below 50% in April 2023.
Inflation declined due to the base effect, from 64.27% to 57.68% in January 2023.
2022: Inflation slowed towards the end of the year to 64.3%
Turkey's inflation has slowed the most since 1995. Consumer prices rose 64.3% in December, up from 84.4% the previous month. The rise in the cost of food, energy and factory prices slowed to below 100%.
The slowdown largely reflects the underlying effect of rapid price increases in the final month of 2021, when the lira lost nearly a fifth of its value within days, making imports more expensive.
Earlier, annual inflation in Turkey in November 2022 slowed down for the first time in 1.5 years - to 84.39% from 85.51% in October.
Inflation in Turkey in October 2022 exceeded 85.5%. PPI prominflation accelerated to nearly 158%. President Erdogan has ruled out raising interest rates to curb inflation.
Earlier, inflation in Turkey accelerated in September 2022 to 83.45% from 80.21% a month earlier, a level last observed in mid-1998, spurred by the Central Bank's experimental policy, which alienated foreign investors and undermined the value of the lira.
However, President Recep Tayyip Erdogan has pushed for even lower interest rates, arguing they will help reduce inflation. This is an argument that contradicts conventional economic theory, and which has not yet been confirmed by real experience, at least in Turkey.
Earlier, annual inflation in Turkey in August 2022 reached 80.21%, according to the Turkish Statistical Institute.
Annual inflation in Turkey in July 2022 accelerated to 79.6%.
July
Inflation in Turkey in June 2022 amounted to 78.62%.
In May 2022, annual inflation in Turkey exceeded 70% and reached its highest in 23 years. Food prices increased over the year by more than 90%.
In April 2022, inflation in Turkey accelerated to 69.9%, amid rising global energy prices and domestic food costs, remaining at the highest level in two decades.
Inflation in Turkey in March 2022 reached 61% on an annualized basis, according to the Turkish Statistical Institute. This is the highest level since March 2002.
The independent statistical Turkish agency ENAGroup, which independently measures inflation, risks falling under a new article on criminal liability for Turkey's independent economic statistics. According to this agency, inflation in Turkey in March amounted to 142.63%, and not 61.14% as officially considered. The State Statistics Service sued ENAGroup, accusing it of defamation and misleading the public.
According to the Turkish Statistical Institute, the increase in consumer prices in the country in February 2022 amounted to 4.81% mm and 54.44%, the main factor is an increase in energy prices and imports. Although monthly growth has slowed down somewhat, in light of the continued growth in raw materials, the figures for March will definitely be even higher.
Monthly growth in producer prices amounted to 7.22% mm and 105.01% against 10.45% mm and 93.53% a month earlier.
Inflation in Turkey remains well above the official target of 5% and has been measured in double digits for most of the past four years.
Inflation rise in January to 48%
The inflation rate in Turkey in January 2022 accelerated to an almost 20-year high, which was caused by rising prices for energy, food and a weak lira.
Prices rose 48.69% year-on-year in January, up from 36.08% in December.
Producer prices rose 10.45% for the month, bringing annual inflation to 93.53%.
Energy inflation rose to 76.38% from 42.93% in December 2021.
The government announced a historic increase in household electricity prices in January by as much as 130%.
2021: Inflation rises to 36%
Inflation in Turkey in December 2021 jumped to a 19-year high amid problems with the lira.
The annual consumer inflations level rose to 36.08% in December, the highest since September 2002 and a sharp increase from 21.31% in November.
Key rate
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 80% inflation. 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
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
Transport infrastructure
Ports
2021:2 ports in the 10 largest in Europe in terms of cargo turnover
Oil and gas production
Main article: Oil and gas production in Turkey
Power
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 to build a second nuclear power plant in the country by the state corporation.
"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.
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.
Energy consumption per capita
and
Automotive market
2021:780 thousand cars produced
Foreign trade
Trade with Russia
Main article: Trade between Russia and Turkey
2024
High level of exports to Central Asia
Stopping exports to Israel demanding more humanitarian aid to Palestine
Turkey's exports to Israel virtually ceased in May 2024, after President Erdogan's government halted trade until Gaza, in which Israel is conducting a punitive operation, received enough humanitarian aid.
Deliveries to Israel fell 99% year-on-year to $4.4 million.
2023: World No. 8 for wheat exports
2022
G7 countries are the main export destination
Germany is the largest export destination
Exports up 12.9% to reach record $254.2 billion by 198 billion euros
Turkey Exports at the end of 2022 reached a record 254.2 billion, dollars showing an increase of 12.9%; the goal is to get into the top ten exporters in the world, said President Erdogan.
The EU is the largest trading partner: 26% of imports and 41% of exports worth 198 billion euros
Turkey is the EU's seventh largest trading partner. At the same time, the EU is Turkey's largest partner in the import and export of goods. In 2022, 26% of goods imports to Turkey were delivered from the EU, and 41% of goods exports to the EU.
The total trade in goods between the EU and Turkey in 2022 amounted to 198.1 billion euros (3.6% of the total EU trade with the world).
2021: Exports rise 33% to record $225 billion
The volume of Turkish exports at the end of 2021 reached a historical mark of $225.4 billion - 33% more than in 2020.
In 2021, export volumes in monetary terms increased immediately in 26 sectors of the Turkish economy - for example, a noticeable increase was recorded in the automotive industry ($29.3 billion, + 15% compared to 2020) and in the chemical industry ($25.3 billion, + 39%). Steel exports grew by 77.4% at once - to 22.4 billion US dollars.
2020: Turkey controls 57% of global boron market
According to the Minister of Energy and Natural Resources of Turkey Fatih Donmez, boron exports in 2020 reached 5.8 million tons. China should become a key market after the opening of direct rail links. At this time, Turkey occupies 57% of the world market.
Business in Turkey
Main article: Business in Turkey
Investment abroad
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.
Labour market
2022: Proportion of workers aged 65 or over - above 10%
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 $525
2023: Minimum wage - $457
In response to soaring inflation, Turkey's minimum wage has doubled since January 2022.
Pensions
2020: Average retirement age for women - 59, for men - 60
Consumption
2023: Poultry meat is the most consumed type of meat
2019
Chicken 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
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Milk consumption in liters per year per person
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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.
R&D
2020: R&D spending - $15.3 billion
Agriculture
2021: Share of farmland - 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.
Tourism
- Main article: Tourism in Turkey
M&A
Main article: Mergers and Acquisitions (M&A) in Turkey
Real estate
2023: A 35% decline in property sales in April. Russians remain leaders in demand for Turkish housing
Sales of Turkish real estate decreased by 35.6% in April 2023 on an annualized basis. A total of 85,652 properties were sold. Most of the real estate was sold in Istanbul, Ankara and Izmir. The average cost of residential buildings in Turkey was $120,000.
The interest of foreign investors in Turkey has noticeably cooled and at this time it is at the level of 2020 indicators, that is, "at the bottom."
In April, citizens of other states purchased only 1,272 real estate objects in Turkey, which is 50.3% less than a year by year, according to the Turkish Bureau of Statistics (TUIK).
Assets in Antalya (454), Istanbul (407) and Mersin (149) are still in greatest demand.
Most of the transactions still fall on Russians, they cleaned up 293 objects in April. But this is three times less than in 2023.
2022
Turkey is the world leader in rising real estate prices - 160% per year
By the end of 2022, Turkey became the world leader in increasing real estate rental prices. They increased by 160.6% compared to the previous year. In December, residential prices in Turkey rose 164% year-on-year.
Real estate sales for the year decreased slightly - by 0.4% compared to 2021.
Demand among foreigners is growing: they bought 67,490 properties in 2022. This is 15.2% more than in 2021. Most often, housing was bought in Istanbul, Antalya and Mersin.
Russians come out on top in the number of purchased real estate in Turkey
Russians have become leaders in buying apartments in Turkey. In 2022, foreigners acquired 61.74 thousand residential buildings in Turkey, which is 20.23% more than in the same period last year, the Bureau of Statistics Turkey(TURKSTAT) reported.
The first place among foreigners who purchased residential real estate in Turkey was taken by Russians. They accounted for 13.9 thousand lots.
In August 2022, Russians bought almost 1,300 real estate objects in Turkey. For 8 months of 2022, citizens Russia purchased more than 8,100 objects in the country. For 8 months of the year, they acquired 51% more objects than for the entire last year.
In October 2022, Russian citizens purchased 2 thousand houses and apartments in Turkey, overtaking all other foreign home buyers in this country, TURKSTAT reported.
In November 2022, Russian citizens purchased 2,575 houses and apartments in Turkey, overtaking all other foreign home buyers in this country - TURKSTAT.
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.
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