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4

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

th

anniversary of the

Republic. Siemens Turkey supports the development of the Turkish economy and society through its operations.

Strengthening

the economy

Today, Turkey ranks as the 17

th

largest

economy in the world. By the end of 2015,

gross domestic product (GDP) was

USD 719.58 billion.

1

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.

2

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.

3

Due to

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

and skills

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%.

4

While the

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

2015.

5

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.

Driving

innovation

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%.

6

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,

the 100

th

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.

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National priorities |

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