Turkey

In-depth country-focused analysis on Turkey's economic, political and operational risk environment, complemented by detailed sector insight

Our comprehensive assessment of Turkey's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Turkey, as well as the latest industry developments that could impact Turkey's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Turkey before your competitors.

Turkey Country Risk

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Core Views Although we view positively Turkey's long-term growth outlook, our real GDP growth forecasts reflect an expectation for below-potential growth in the years ahead. This will result from...

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Turkey Industry Coverage (25)

Agribusiness

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BMI View:   We favour the sugar sector in Turkey because of the strong growth potential of the country's confectionery industry, and our belief that large changes to the country's sugar...

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Autos

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Turkish vehicle production declined 2.4% year-on-year (y-o-y) in the first five months of 2014, to 455,980 units, despite a surge in passenger car output, on the back of sharp declines in commercial...

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Commercial Banking

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Commercial Banking Sector Indicators Date Total assets Client loans Bond portfolio Other Liabilities and capital Capital Client deposits Other...

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Consumer Electronics

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BMI View: Although we hold a positive view on Turkey's Consumer Electronics Market's long-term growth outlook, our real GDP forecasts reflect a downside in the next few years.   This is the...

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Defence & Security

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BMI View: On the whole, Turkey is one of the more stable countries in the Near East region. That said, the instability in its surrounding neighbourhood is affecting Turkey's regional interests. We...

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Food & Drink

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BMI View:   We hold a below-consensus view on the Turkish consumer and Turkish economic growth. We believe that growth will slow sharply over the next several quarters, spearheaded by the decline...

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Freight Transport

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Following a year in which BMI believes steady growth was seen across the entire Turkish freight transport sector, 2014 will signal further increase in volumes, albeit at a slower pace, in line with...

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Information Technology

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BMI View: Turkey has seen foreign investment in ICT rise over the last three years and it is increasingly viewed as a regional hub, with a strategic geographical location. Our medium-term outlook...

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Infrastructure

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BMI View : We forecast Turkey's construction industry should continue to perform well over 2015, after our 2014 forecasts were supported by official data of real growth at 5.2% in Q114 . A...

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Insurance

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BMI View: As of late 2013, almost all trends in Turkey's insurance sector are positive. In essence, a market that is large in absolute terms, but underdeveloped by many metrics, has the capacity...

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Medical Devices

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Espicom Industry View: The Turkish medical device market is expected to grow by a CAGR of 3.4 % over the 2013-2018 period, driven by import growth, the expansion of healthcare facilities ,...

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Metals

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BMI View: Despite relatively weak growth to be expected over coming months , the medium-term outlook for Turkey's metals sector remains promising due to strong demand from the domestic...

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Mining

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BMI View: Turkey's mining industry is set to be on the radar of foreign investors in the years to come as the government has undertaken efforts to open up the sector , paving the way for...

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Mining

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We expect to see strong growth in the mining sector of the Middle East and North Africa over the coming years. With low base effects, governmental will to increase non-oil revenues and significant...

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Oil & Gas

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BMI View: Turkey will remain heavily dependent upon oil and gas imports for the foreseeable future. Phase II of Shah Deniz and t he decision to proceed with the TAP and TANAP natural gas...

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Petrochemicals

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The short-term outlook for the Turkish petrochemicals industry is challenging, with the depreciation of the lira and the rising cost of credit dampening domestic demand, but export growth and low...

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Pharmaceuticals & Healthcare

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BMI View:   Despite a challenging pricing and reimbursement situation compounded by currency uncertainty, BMI still believes the Turkish pharmaceutical market is attractive in the long term as...

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Power

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BMI View: This quarter our fundamental assumptions for Turkey remain virtually unchanged. . Ove rall, we maintain our view that Turkey set to emerge as a key power market over the coming...

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Real Estate

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BMI View: Turkey's real estate market is, on the whole, following a positive growth trajectory, with retail the outperformer. Industrial is the Achilles he e l of the sector, lagging behind both...

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Renewables

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BMI View: Turkey's renewables expansion is progressing well; as the country's relatively attractive renewable energy policy environment has helped drive investment into the sector. Unlike many of...

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Retail

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BMI View: BMI maintains a positive outlook on the future of the Turkish retail sector . The country's rising household spending and incomes combined with increasing urbanization create prime...

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Shipping

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We forecast real GDP growth in Turkey of 1.5% and 3.0% in 2014 and 2015 respectively, well below consensus estimates of 2.3% and 3.5%. A tightening of global liquidity and domestic credit conditions...

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Telecommunications

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BMI View: The Turkish telecommunications market is a relative outperformer compared with its regional peer s, however there is downside arising from the interference of the government with bans...

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Tourism

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BMI's report on the Turkish tourism market examines the expected trends across inbound and outbound travel, news in the hotel sector, growth in industry value and changes in the market in terms of...

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Water

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BMI View: We believe the ongoing drought, the reduction of the water resources, and the rising demand for thermal electricity generation pose serious risks to the Turkish water sector. Moreover...

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