Turkey Businessforecast Industry Forecast

The Turkey Business Forecast Report provides essential macroeconomic, political and financial analysis for companies doing business in Turkey. The Turkey Business Forecast Report helps businesses with Turkish market assessment, strategic planning and decision making to promote growth and profitability in Turkey and is an essential tool for CEOs, Chairmen, Finance Directors/CFOs, Managing Directors, Marketing/Sales Directors with commercial interests in this emerging market.

An influential new analysis of Turkey's political, economic and financial prospects through end-2012, just published by award-winning forecasters, Business Monitor International.

 

 

 

Key Uses of the Turkey Business Forecast Report | Turkey's Political Outlook | Turkey's Economic Outlook | Turkey's Business Environment | Key Turkey Industry Sectors | Turkey BMI's Executive Summary | Our Middle East & Africa Subscribers | Full Range of BMI's Business Forecast Reports

Key Uses for the Turkey Business Forecast Report

  • Forecast the pace and stability of Turkey's economic and industry growth through end-2012
  • Identify and evaluate adverse political and economic trends in Turkey, to facilitate risk mitigation strategies
  • Assess critical shortcomings of Turkey's business environment that pose hidden barriers and costs to corporate profitability
  • Contextualise Turkey's country risks against Middle East & Africa regional peers using BMI's country comparative risk ratings system
  • Target business opportunities in Turkey's high-growth industry sectors
  • Evaluate external threats to doing business in Turkey, including currency volatility, the commodity price boom and protectionist policies

The Turkey Business Forecast Report by Business Monitor International includes four major sections: Turkey's Political Outlook, Turkey's Economic Outlook, Turkey's Business Environment and Turkey's Key Industry Sectors.

Turkey's Political Outlook:

What are the political risks to doing business in Turkey over the next 5 years?

BMI's Turkey Country Risk Ratings evaluate the short and medium-term threats posed by government instability, adverse economic policy-making, deterioration in the business environment and external shocks.

Turkey Political Outlook Contents

  • SWOT Analysis for the Turkish Market
    Political Strengths, Weaknesses, Opportunities and Threats facing Turkey.
  • Political Stability and Risk Assessment for Turkey
    BMI's Risk Ratings assess explicit short and long-term risks to political stability; latest ratings, rankings and trends for Turkey's risk are compared with Middle East & Africa regional and global averages.
  • Current Administration and Policy-making in Turkey
    BMI profiles key policy-makers and power-brokers in the Turkish government, assessing threats to the continuity of Turkish economic policy, and likely changes to the business operating environment through end-2012.
  • Turkish Foreign Policy
    BMI examines key trends and shifts in Turkey's foreign relations and alignments with Middle East & Africa neighbours, the United States and Europe, focusing on external influences.

Key Benefits

  1. Benchmark Turkey's risk profile against its neighbours, the global and regional average, allowing easy comparison of risks between key business markets.
  2. Identify, evaluate and anticipate political and security risks to the business environment in Turkey, and to your company's current operations and future plans.
  3. Gain valuable insights into the Turkish government and policy-making, through BMI's specialist team of analysts and economists, and their exclusive network of private and public sector sources.

Turkey's Economic Outlook:

How will Turkish economic policy-making and performance impact corporate profitability over 2008-12?

BMI provides fully independent 5-year forecasts for Turkey through end-2012 for more than 35 macroeconomic variables. We evaluate Turkish growth, and also forecast the impact of economic management, including central bank policy, on profitability.

Turkey Economic Outlook Contents

The Turkey Business Forecast Report features explicit BMI economic forecasts for Turkey, with supporting commentary and analysis, for end-2008, 2009, 2010, 2011 and 2012 set against Turkish government views. Underpinning our Turkey forecasts are key assumptions for the global economy through end-2012, covering growth, inflation, employment, trade and investment, interest and exchange rates in the US, Japan and the Euro-zone.

Coverage of Key Economic Issues in Turkey

  • Economic Activity in Turkey
    Real GDP growth; industrial growth; employment growth; inflation and consumer prices; consumption (indicative wages, retail sales, consumer confidence)
  • Fiscal Policy in Turkey
    Current macroeconomic strategy and implementation policies; government finance (revenue, expenditure, budget balance); tax reforms
  • Monetary Policy in Turkey
    Interest rate trends (bank lending and deposit rates); inflation (retail price inflation, consumer price inflation); exchange rate policy in Turkey; Turkish currency controls; influence of foreign direct investment inflows; exchange rates and foreign exchange reserves
  • Balance of Payments in Turkey
    Merchandise trade (exports, imports, trade balance); current account balance
  • Foreign Direct Investment in Turkey
    Foreign direct investment approvals and inflows; the foreign investment climate
  • Turkish External Debt
    Debt profile (short- and long-term debt; public and private sector exposure)

Key Benefits

  1. Rely upon BMI's 100% independent Forecast Scenarios for Turkey and underlying assumptions - we take no advertising and are privately-owned.
  2. Exploit the benefits of BMI's comprehensive and reliable macroeconomic Turkey database, sourced and fully maintained by BMI from an extensive network of private sector, government and multilateral contacts.
  3. Gain key insights into the current and future direction of Turkish government economic policy

Turkey's Business Environment:

How internationally competitive is Turkey's regulatory environment, and what changes can be expected?

BMI assesses levels of transparency, flexibility of labour market, tax burden, development of the banking sector and credit availability, infrastructure and IT, foreign investment regime and trade liberalisation in Turkey.

Turkey Business Environment Contents

  • Turkey's Business Environment Risk Rating with SWOT Analysis
    Short and long-term business environment risk ratings for Turkey, benchmarked against ratings for Middle East & Africa and neighbouring countries.
  • Country Competitiveness for Turkey
    Competitiveness of Turkey's business operating environment in supporting corporate growth and profitability over the 5-year forecast horizon, compared with regional neighbours.

Coverage of Key Business Environment Issues in Turkey's Domestic Environment

Transparency, cronyism and corruption; labour market flexibility; corporate tax burden; interest rate levels; access of private sector to lines of credit; sophistication of banking sector and stock market; levels of business confidence; infrastructure and IT

  • Foreign Direct Investment in Turkey
    Analysis of foreign investment regime, foreign ownership laws; attractiveness of business environment to foreign investors; review of major foreign direct investments over the last 24 months, and of strategic sectors attracting most interest
  • Foreign Trade with Turkey
    Analysis of trading environment, government trade policy, liberalisation measures, tariffs and membership of trade areas

Turkey's Key Industry Sectors

Which industry sectors in Turkey will grow fastest, and where are the major investment opportunities in the Turkish market?

BMI targets investment opportunities in Turkey's high growth industries, including automotives, food and drink, infrastructure, oil and gas, pharmaceuticals and healthcare, telecommunications and IT.

Coverage of Turkey's Key Industry Sectors - Turkish Market Overview

Size, value and structure of industry; impact of liberalisation and privatisation on sector performance and prospects; friendliness of business environment

  • Latest Developments in Turkey
    Review of latest projects, deals, privatisations, mergers and acquisitions, and implications for sector performance; company rankings for national and multinational companies in Turkey; main industry players by local sales, employee size, market share and main brands, products and services
  • 5-year Industry Forecast for Turkey
    Historic dataset (2003-2007) and BMI forecasts through end-2012, covering headline industry data broken out by sub sector

Key Benefits

  1. Target strategic sector-by-sector opportunities in Turkey's high growth industries, attracting public expenditure and foreign investment; identify key players and competitors driving growth, investment and business opportunities.
  2. Benefit from competitive intelligence on top national and multinational companies operating in Turkey's major industry sectors, including analysis of recent trends in sales and market share, company strategies, product launches and latest deals.

Who buys the Middle East & Africa Business Forecast Reports?

The Turkey Business Forecast Report is an essential tool for CEOs, Chairmen, Finance Directors/CFOs, Managing Directors, Marketing/Sales Directors with commercial interests in Turkey.

Our Business Forecast Reports are relied upon by corporates, banks, government departments and multinational organisations around the world.

Business Monitor International's Business Forecast Report subscribers include:

Abbott International, Air Liquide, Akzo Nobel, Alcatel, Alpha Cement Group, Atlas Copco, BASF, British American Tobacco Company, Coca-Cola HBC, Colgate Palmolive Romania, Deloitte & Touche, Ericsson Telecommunications Bulgaria Ltd, Ernst & Young, Exxonmobil Ltd, Heineken Brewery, Hewlett- Packard Slovakia, S.r.o, Indesit Company, Microsoft Software, Novartis Pharma Services Inc, Omnitel, Opus Land Development SA, Provident Financial, Raiffeisen Bank, Robert Bosch Elektronika Kft., Siemens Srl, Xerox Ltd 

 

"The most interesting part of the report for our company is the Key Economic Sectors. We use it to learn more about our key industries and the development of these industries in the respective countries. It's very difficult to get specific information about the Middle East Countries; Business Monitor delivers exact numbers."
Marketing Analyst, Faro Europe GmbH & Co. KG, Germany.

BMI's Executive Summary for Turkey

[TOP]

Watch For An Economic Upswing In 2008

Positive macroeconomic and political risk trends are expected to converge in Turkey in 2008, lifting real GNP growth to a forecast 6.2%. The economy will benefit from a combination of steadily declining real interest rates, alongside measured cuts to the Central Bank of Turkey (CBT)'s overnight borrowing rate, and a renewed reform drive from the re-elected Justice and Development Party (AKP) government, which will help to underpin foreign investor confidence. In the Q108 Turkey Business Forecast Report we explore the dynamics and direction of core macroeconomic and political risk indicators in Turkey, including balance of payments, monetary policy, exchange rate, domestic politics and foreign policy. Overall, our long-term positive view for the country remains unchanged and we hold to the belief that Turkey will continue steadily along the path to EU convergence. Indeed, in 2008, we are forecasting the current account deficit to decline to below 5.0% of GNP, the lira to appreciate to TRY1.1000/US$ and inflation to fall to within 1.0 percentage points (pps) of the CBT's 4.0% year-on-year (y-o-y) target.

The improvement in Turkey's political risk environment after the re-election of the AKP will pay dividends in 2008 as the government moves to accelerate the reform agenda after a slowdown due to the election cycle in 2007. Not only do we expect to see the continuation of major privatisations, but also the harmonisation of regulations to EU standards and further liberalisation of Turkey's capital markets. That said, while domestic political risks have been mitigated substantially by the election, foreign policy affairs are likely to remain a key risk to Turkish stability. Tensions along the border with Iraq over Kurdish separatist guerrillas are likely to remain over the medium term and while we believe a full-scale invasion of Iraq by Turkish forces is still unlikely, we do not rule it out as a possibility.

Going forward, there are signals that economic growth will remain lacklustre through H207. Pressure on private consumption from high interest rates is expected to remain, with the overnight borrowing rate forecast to come in at a still high 16.25% at end-year. Moreover, in H2, public sector consumption growth is likely to fall considerably, as the newly elected AKP government slashes spending in line with its renewed reform drive. That said, our core view is that there is only a limited likelihood of a combined weak public, private and external sector through the medium term. Indeed, while the Turkish economy is likely to remain uninspiring in the second half of 2007, we are expecting renewed robust growth in 2008.

Real interest rates are set to fall significantly beginning in 2008, helping to increase economic activity, improve local currency liquidity and lower the cost of doing business. We are forecasting the CBT to continue its monetary policy loosening through 2008 and beyond, with the benchmark overnight borrowing rate expected to fall to 13.75% by end-2008 and further to 10.75% a year later. Continued steady rate cuts will follow the monetary policy committee's dovish moves in September and October of 2007, where the CBT surprised financial markets by cutting the policy rate unexpectedly by 25 basis points (bps) in September, followed by a large 50bps cut a month later

Read about our other Business Forecast Reports  

Asia

Australia, Bangladesh, China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, Vietnam

Europe

Bosnia & Herzegovina, Bulgaria, Caucasus, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Kazakhstan & Central Asia, Latvia, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine

Middle East

Bahrain, Iran, Iraq, Israel, Jordan, Lebanon & Syria, Kuwait, Oman & Yemen, Qatar, Saudi Arabia, UAE

Africa

Angola, Botswana, Cameroon, Cote d'Ivoire, Egypt, Ethiopia, Francophone West Africa, Ghana, Kenya, Mozambique, Namibia, Nigeria, North Africa, South Africa, Sudan, Tanzania, Uganda, Zambia, Zimbabwe

North & South America

Argentina, Brazil, Chile, Colombia, East Caribbean, Mexico, Peru, Trinidad & Tobago, Venezuela, West Caribbean

 

Business Monitor International

Business Monitor International
A Market Leader in Country Risk, Industry Intelligence and Company Research

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BUSINESS MONITOR INTERNATIONAL's country risk analysis and forecasts, market research on leading industries, and multinational company research is relied upon by corporates, banks, government departments and multilateral organisations in over 125 countries around the world.

Country Risk Analysis and Forecasts
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has for 25 years specialised in political risk analysis, financial markets analysis, and macroeconomic forecasts on 175 global markets.

Industry Intelligence and Market Research
BMI's industry research covers Automotives; Banking; Chemicals; Defence & Security; Food & Drink; Freight Transport; Information Technology; Infrastructure; Insurance; Mining; Oil & Gas; Petrochemicals; Pharmaceuticals & Healthcare; Power; Telecommunications, and Tourism.

Company Research
BMI maintains a fully-researched 55,000-site database of multinational company subsidiaries located across global markets.