ECONOMİC OUTLOOK of TURKEY and HATAY. Levent Hakkı YILMAZ İskenderun Chamber of Commerce and Industry Chairman of the Board
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1 ECONOMİC OUTLOOK of TURKEY and HATAY Levent Hakkı YILMAZ İskenderun Chamber of Commerce and Industry Chairman of the Board
2 General Information about Turkey (2016) Capital City Ankara Population 79.8 million Workforce (Population) 30.5 million Aged Average 31,4 Area ,38 square kilometers GDP (Gross Domestic Product) 857 billion US Dollars (2016-Current Prices) GDP per capita US $ Export Amount 143 billion dollars Import Amount 199 billion dollars Tourism Revenue 22.1 billion dollars Number of Tourists 25.3 million Foreign Direct Investment 12.3 billion dollars Number of Foreign Companies Inflation Rate 8.5% (Consumer Price Index ) Main Export Markets Germany (9.8%); England (8.2%); Iraq (5.4%); Italy (5.3%); USA (4.6%); France (4.2%); BAE (3.8%); Spain (3.5%); Iran (3.5%); Netherlands (2.5%) Main Import Sources China (12.8%); Germany (10.8%); Russia (7.6%); USA (5.5%); Italy (5.1%); France (3.7%); South Korea (3,2%); India (2.9%); Spain (2.9%); England (2.7%)
3 Economic Outlook of Turkey In recent years, Turkish economy has performed remarkably well with steady growth. Turkey's macroeconomic strategy, consistent financial policies and radical structural reforms have integrated the global economy. This led the country to a leading position in direct foreign investment figures in its region. The reforms have strengthened the economic structure and financial indicators of the country. In this respect, the Turkish economy grew with an average annual real GDP growth rate of 5.6% between 2003 and 2016.
4 1. Successful Economy 10 Reasons to Invest in Turkey A rapidly developing economy; GDP, which was 231 billion $ in 2002, increased more than three times in 2016 to 857 billion $. Stable economic growth; between 2002 and 2016 the annual average real GDP increased by 5.6%. (TURKSTAT) It is expected to be one of the fastest growing economies among the OECD member countries in with an annual real GDP growth rate of 5.4% The institutionalized economy which attracted foreign direct investment of 145 billion $ in the last 10 years (CBRT), A dynamic and institutionalized private sector structure with an export volume of 143 billion $ with an increase of 300% over the last 15 years, (TURKSTAT) 2. Population Population of 79.8 million (2016, TURKSTAT) The most populous young population compared with the European Union (Eurostat) Half the population under the age of 31 (2016, TURKSTAT) Young, dynamic, educated and multicultural population
5 10 Reasons to Invest in Turkey 3. Qualified and Competitive Labor Force More than 30.5 million young, educated and motivated staff (2016, TURKSTAT) Increased employee productivity More than graduates from over 183 universities (Annually ) (2016, CoHE) Over high school graduates (Half of the vocational high schools and technical high schools) Yarısı meslek liseleri ve teknik liselerden olmak üzere in üzerinde lise mezunu (2016, MNE) 4. An Open Investment Environment for Innovations Since 1997 the second largest reformist country among OECD members in terms of restrictions on foreign direct investment (OECD FDI Regulation Restriction Index ) A business-friendly environment that provides corporate setup in an average of 6.5 days (World Bank Doing Business Report 2017) Competitive investment conditions A strong industry and service culture Equal treatment for all investors In 2016, approximately foreign-funded companies (Ministry of Economy) International arbitration
6 10 Reasons to Invest in Turkey 5. Developing Infrastructure New and improved technical infrastructure in transportation, telecommunication and energy sectors Highly advanced, low cost sea transportation Railway advantage to Central and Eastern Europe Well structured transportation and direct shipping opportunities to the most of European Union countries 6. Central Location Effective and optimum cost point to important markets by functioning as a natural bridge between East-West and North-South Easy access opportunity to 1.6 billion potential customers in Europe, Eurasia, the Middle East and North Africa Access opportunity to the markets that total GDP value reaches 24 trillion $
7 10 Reasons to Invest in Turkey 7. European Energy Corridor An important energy terminal and gateway connecting East and West More than 70% of the world's proven primary energy reserves are located in regions very close to Turkey. Europe, which is one of the biggest energy consumption regions of the world, makes Turkey a key point in energy transfer and an energy terminal in the region. 8. Low Taxes and Incentives Corporate Tax has dropped from 33% to 20% Entire or partial exemption from the Corporation Tax and support for employers' social security expences. In addition to the tax advantages for the Technology Development Zones, Industrial Zones and Free Zones, possibility of land allocation The possibilities of the R & D Law Strategic investments, incentives for large-scale investments and regional investments
8 10 Reasons to Invest in Turkey 9. Customs Union with the European Union since 1996 The Customs Union, which has been in force since 1996 with the EU and Free Trade Agreement with 27 countries (Ministry of Economy) New Free Trade Agreements Accession negotiations with the EU 10. Great Internal Market Between 2002 and 2016, the number of internet subscribers that reached from 0,1 million to 62,2 million (TURKSTAT), Between 2002 and 2016, the number of mobile phone subscribers increased from 23 million to 75,1 million (TURKSTAT) Between 2002 and 2016, the number of credit card users reached from 16 million to 58,8 million (ICC) Between 2002 and 2015, the number of air passengers increased from 33 million to 181 million (TURKSTAT) The number of foreign tourists reached from 13 million to 25,3 million between 2002 and 2016 (TURKSTAT)
9 General Information about Hatay Considering the figures taken from official institutions and establishments, Hatay attracts attention with its potential in the Turkish economy. Hatay s population is This value makes Hatay the 13th most populous city in Turkey. According to population density, Hatay is the 7th highest population density of Turkey (TURKSTAT 2016). Hatay is in the 15th place in the country with 1.2% GNDP (TURKSTAT, 2014) Hatay is in the 10th place in 2015 with TL commercial volume figures (Technology Entrepreneur Information System,Ministry of Science, Industry and Technology) Hatay is in the 20th place in the country with workplaces in terms of the number of establishments (Social Security Institution, 2016) The number of exporters in Hatay is and according to this data Hatay ranks 11th in Turkey. (2016) Hatay ranks 15th in the country in terms of total deposit figures with TL (Banking Regulation and Supervision Agency, 2016)
10 According to the Revenue Administration of the year 2016, Hatay ranks 8th in terms of tax revenues in Turkey. Rank Provinces 2016 (January - December) 2017 (January - July) Accrual Collection Collection / Accrual Collection Collection / (Tousand TRY) (Tousand TRY) Accrual (Tousand TRY) (Tousand TRY) Accrual 1 İstanbul , ,7 2 Kocaeli ,4 3 İzmir , ,7 4 Ankara , Bursa , Mersin , ,3 7 Antalya , ,1 8 Hatay , ,4 9 Adana , ,8 10 Konya , ,3 Source: T.R. Ministry of Finance, Accounting Department,2017
11 According to export figures for the year 2016, Hatay maintains its 10th place in the country with exports of 1,743,882,283 USD. As of 2016, Hatay ranks 7th among the top importing provinces. Our region has been ranked between 9th and 10th among the top exporting countries, and between 7th and 8th among the top importing countries since Hatay Foreign Trade Statistics Years Export (US Dollar) Import (US Dollar) (January-July)
12 According to data provided by the Istanbul Chamber of Industry in the year 2016, Hatay is ranked 10th in the country with 10 enterprises that are among the 500 biggest companies. 500 Big Company Rank Company Titles Affiliated Chamber / Public İskenderun Demir ve Çelik A.Ş Tosçelik Profil ve Sac Endüstrisi A.Ş MMK Metalurji San. Tic. ve Liman İşletmeciliği A.Ş Koç Metalurji A.Ş Egemer Elektrik Üretim A.Ş İlhan Demir Çelik ve Boru Profil Endüstrisi A.Ş TosyalıDemirÇelikSanayi A.Ş Baştuğ ÇelikSanayi A.Ş CorbusÇelik San. ve Tic. A.Ş Tufan Endüstri Demir Çelik San. ve Tic. A.Ş. İskenderun Chamber of Commerce and Industry İskenderun Chamber of Commerce and Industry Dörtyol Chamber of Commerce and Industry Dörtyol Chamber of Commerce and Industry Erzin Chamber of Commerce and Industry Dörtyol Chamber of Commerce and Industry İskenderun Chamber of Commerce and Industry Dörtyol Chamber of Commerce and Industry Dörtyol Chamber of Commerce and Industry Dörtyol Chamber of Commerce and Industry Special Rank Sales From Production (Net) (TRY)
13 Hatay is the lowest 13th province in labour force partipication in Turkey (TURKSTAT, 2013). According to unemployment figures, our province is in 11th place. According to the regional labour force statistics for the year 2016, TR63 Region (Hatay, Kahramanmaraş, Osmaniye) has unemployment rate above the average of Turkey. Regional Unemployment Rates (%) Hatay, Kahramanmaraş, Osmaniye Turkey Gap Years Hatay, Kahramanmaraş, Osmaniye (TR63 Region) 15+ Age Unemloyment Rate (%)
14 According to the information given by the General Directorate of Immigration of the Ministry of Interior as of ; There are 403,438 Syrians in Hatay province under temporary protection. According to the distribution of the Syrians, Hatay is the 3rd place after Istanbul and Şanlıurfa. Hatay is in second place after Kilis with 25.94% in terms of population ratio. Distribution of Syrian Foreigners by Temporary Protection (As of ) Ranks Provinces Registered Population Percentage of comparison with provincial population 1 İSTANBUL ,39% 2 ŞANLIURFA ,66% 3 HATAY ,94% 4 GAZİANTEP ,21% 7 KİLİS ,52%
15 According to GNP figures for 2014, per capita income in Hatay province is 7637 dollars and it is ranked 55th in Turkey. In the period between 2011 and 2014, when the Syrian civil war started, the per capita income in Hatay province fell from 51st place to 55th place in Turkey. Osmaniye maintained its 56th place in this period, and Kahramanmaraş dropped from 57th to 58th place. According to TURKSTAT export figures, Hatay province exports (from 654,914,000 USD to 2,050,554,653 USD) increased by 213% between 2004 and 2011, but decreased by 14,9% in 2016 due to the Syrian crisis. When Hatay export figures were analyzed according to countries between , exports from Hatay to Syria increased by 97% to 232 million USD. Syria has become the country with the highest number of exports of Hatay. The vast majority of this figure comes from the aid provided and is realized through foreign institutions or Syrian citizens.
16 Regional İncentive Classification 1. Region 2. Region 3. Region 4. Region 5. Region 6. Region Ankara Adana Balıkesir Afyonkarahisar Adıyaman Ağrı Antalya Aydın Bilecik Amasya Aksaray Ardahan Bursa Bolu Burdur Artvin Bayburt Batman Eskişehir Çanakkale Gaziantep Bartın Çankırı Bingöl İstanbul Denizli Karabük Çorum Erzurum Bitlis İzmir Edirne Karaman Düzce Giresun Diyarbakır Kocaeli Isparta Manisa Elazığ Gümüşhane Hakkari Muğla Kayseri Mersin Erzincan K.Maraş Iğdır Kırklareli Samsun Hatay Kilis Kars Konya Trabzon Kastamonu Niğde Mardin Sakarya Uşak Kırıkkale Ordu Muş Tekirdağ Zonguldak Kırşehir Osmaniye Siirt Yalova Kütahya Sinop Şanlıurfa Malatya Tokat Şırnak Nevşehir Tunceli Van Rize Yozgat Sivas 8 province 13 province 12 province 17 province 16 province 15 province
17 Hatay Investment and Promotion Advantages Incentive Elements HATAY ( 4. Region) 5. Region 5. Region Organized Industrial Zone (6. Region) VAT Exemption Yes Yes Yes Customs Tax Exemption Yes Yes Yes Tax Discount Investment Contribution Rate (%) Tax Discount Rate(%) Insurance Premium Employer Incident Support (Support Period) Investment Location Allocation Interest Support 6 years 7 years 10 years Yes Yes Yes TRY: 4 point Foreign currency: 1 point Max TRY TRY: 5 point Foreign currency: 2 point Max TRY TRY: 7 point Foreign currency: 2 point Max TRY
18 Trade volume between Turkey and the Netherlands is in a trend of continuous increase with both increases in exports and imports. In 2002, the trade volume between the two countries rose from $ 2.4 billion to $ 7.2 billion in 2011, tripling. In 2013, with the increase in exports and the decrease in imports, Turkey has given a foreign trade surplus of 177 million dollars against the Netherlands, but in 2014 Turkey again gave foreign trade deficit against Netherlands. In the years 2015 and 2016, foreign trade between two countries,turkey has given more surplus. Foreign Trade Between Turkey and Netherlands (Million US Dollar) Years Export Export Change % Export Portion % Import Import Change % Import Portion % Foreign trade volume ,4 15,9 2, ,0 24,1 1, , ,1 31,8 2, ,0 26,9 1, , ,4 0,0 2, ,6-8,6 1, , ,0 9,1 2, ,6-8,1 1, , ,7-2,2 2, ,4 6,0 1, , ,9-8,8 2, ,4-18,2 1, , ,6 13,8 2, ,7 3,4 1, , (1-6) ,0 2, ,6 1, (1-6) ,0 2, ,3 1,
19 Main Products in Turkey's Export to Holland (Thousand US Dollars) Rank Products Change % 2016 Portion % Total ,8 100, Motor vehicles for goods transport Cars, station wagons, racing cars T-shirts, jackets, other underwear (knitted) Oils obtained from petroleum oils and bitumen minerals Suits for women / girls, suits, jackets etc ,9 9, ,1 5, ,4 4, ,3 3, ,9 3,3
20 Major Products Imported from the Netherlands by the Netherlands (Thousand US Dollars) Rank Products Change % 2016 Proportion % Total ,9 100, Iron and steel waste and scrapers, their bullies Polyacetals, other polyethers, epoxidealkyd resins, etc. (first) Oils obtained from bituminous minerals ,3 18, ,4 5, ,2 5,1 4 Traktors ,4 4,5 5 Food preparations not elsewhere specified ,0 3,1
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