What matters to Turkey?
Major points of development
Turkey is a developing country and to ensure a brighter future and a more affluent society, certain steps should be taken in
terms of economy, employment, innovation, digitalization, environment, and life standards. These steps are included in
the development plans and the goals set by the government for the year 2023, which is the 100
anniversary of the
Republic. Siemens Turkey supports the development of the Turkish economy and society through its operations.
Today, Turkey ranks as the 17
economy in the world. By the end of 2015,
gross domestic product (GDP) was
USD 719.58 billion.
Despite having gone
through a decline on the basis of foreign
currency due to the devaluation of the
Turkish lira in 2015, GDP increased by
4% compared to 2014, in fixed rates.
While the service sector and industry are the
greatest contributors to the development
of the national economy, agriculture also has
an important share.
As a criterion for income inequality,
the Gini coefficient, which indicates equality
toward 0 and inequality toward 1, was
calculated as 0.391 in 2014, according to
Turkish Statistical Institute (TÜİK) data.
population growth, high levels of urbanization
and production, and higher value-added
manufacturing rates, Turkey has a great
potential in terms of domestic consumption.
Developing local jobs
Turkey’s population is 78,741,053 as of
December 31, 2015, as announced by TÜİK.
The share of 15-64 age group that is within
the working age range is 67.8%.
rate of employment was announced as
47.2% in April 2016, the rate of participation
in the workforce is 52%. The share of those
with higher education in the total workforce
has been identified as 22.7% by the end of
On the other hand, the unemployment
rate was 9.3% in April 2016. The need for
qualified workforce is evident especially in
industry. Rather than white collar workers,
there is a need for vocational high school and
college graduates who are equipped with
higher technical information and are willing
to work in the heart of industry.
The share of R&D expenditure in the GDP was
1.01% by the end of 2014. This rate more than
doubled between 2003 and 2014, reaching
1.01% from 0.48%.
There is a growing trend in “higher value-
added manufacturing” in Turkey. The state
offers special incentives for manufacturing
products that will have significant impact on
the budget and narrow the foreign trade
deficit when exported.
In Turkey’s Strategic Vision devised for 2023,
anniversary of the Republic of
Turkey, the goal is to increase the share of
R&D within the Turkish GDP up to 3%.
Turkey plans to become the R&D and
innovation center of the region. Automotive
and machinery manufacturing are the main
focal points of this goal. The objective is to
make USD 75 billion worth automotive
exports until 2023.
National priorities |