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    Turkey Economy - 1990

      Overview: The economic reforms that Turkey launched in 1980 continue to bring an impressive stream of benefits. The economy has grown steadily since the early 1980s, with real growth in per capita GDP increasing more than 6% annually. Agriculture remains the most important economic sector, employing about 60% of the labor force, accounting for almost 20% of GDP, and contributing about 25% to exports. Impressive growth in recent years has not solved all of the economic problems facing Turkey. Inflation and interest rates remain high, and a large budget deficit will continue to provide difficulties for a country undergoing a substantial transformation from a centrally controlled to a free market economy. The government has launched a multimillion-dollar development program in the southeastern region, which includes the building of a dozen dams on the Tigris and Euphrates rivers to generate electric power and irrigate large tracts of farmland. The planned tapping of huge quantities of Euphrates water has raised serious concern in the downstream riparian nations of Syria and Iraq.

      GDP: $75 billion, per capita $1,350; real growth rate 1.8% (1989 est.)

      Inflation rate (consumer prices): 68.8% (1989)

      Unemployment rate: 15.8% (1988)

      Budget: revenues $12.1 billion; expenditures $14.5 billion, including capital expenditures of $2.08 billion (FY88 est.)

      Exports: $11.7 billion (f.o.b., 1988); commodities--industrial products 70%, crops and livestock products 25%; partners--FRG 18.4%, Iraq 8.5%, Italy 8.2%, US 6.5%, UK 4.9%, Iran 4.7%

      Imports: $14.3 billion (c.i.f., 1988); commodities--crude oil, machinery, transport equipment, metals, pharmaceuticals, dyes, plastics, rubber, mineral fuels, fertilizers, chemicals; partners--FRG 14.3%, US 10.6%, Iraq 10.0%, Italy 7.0%, France 5.8%, UK 5.2%

      External debt: $36.3 billion (November 1989)

      Industrial production: growth rate 7.4% (1988)

      Electricity: 14,064,000 kW capacity; 40,000 million kWh produced, 720 kWh per capita (1989)

      Industries: textiles, food processing, mining (coal, chromite, copper, boron minerals), steel, petroleum, construction, lumber, paper

      Agriculture: accounts for 20% of GDP and employs majority of population; products--tobacco, cotton, grain, olives, sugar beets, pulses, citrus fruit, variety of animal products; self-sufficient in food most years

      Illicit drugs: one of the world's major suppliers of licit opiate products; government maintains strict controls over areas of opium poppy cultivation and output of poppy straw concentrate

      Aid: US commitments, including Ex-Im (FY70-88), $2.2 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $7.9 billion; OPEC bilateral aid (1979-89), $665 million; Communist countries (1970-88), $4.5 billion

      Currency: Turkish lira (plural--liras); 1 Turkish lira (TL) = 100 kurus

      Exchange rates: Turkish liras (TL) per US$1--2,314.7 (November 1989), 1,422.3 (1988), 857.2 (1987), 674.5 (1986), 522.0 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Turkey on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Turkey Economy 1990 information contained here. All suggestions for corrections of any errors about Turkey Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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