Description: Trading Up to High Income : Turkey Country Economic Memorandum

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Trading Up to High Income : Turkey Country Economic Memorandum

Turkish exporters substantially broadened market reach, exporting to 137 countries at present, up from 90 in 2000. Turkey's global market share rose substantially from 0.55 percent of global imports in 2002 to 0.82 percent in 2012. Turkey aims...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	AGRICULTURAL PRODUCTS AGRICULTURE ANTIDUMPING APPAREL APPAREL EXPORTS APPAREL SECTOR BANKING SUPERVISION BENCHMARK BILATERAL TRADE BUSINESS ENVIRONMENT CAUSE FOR CONCERN CENTRAL BANK COMMERCIALIZATION COMMODITY EXPORTERS COMMODITY PRICE COMPARATIVE ADVANTAGE COMPETITIVE PRODUCTS CURRENCY CURRENT ACCOUNT CUSTOMS CUSTOMS UNION DEBT DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT STRATEGIES DISTRIBUTION SERVICES DIVIDEND DOMESTIC INDUSTRY DOMESTIC PRODUCERS ECONOMIC COOPERATION ECONOMIC CRISIS ECONOMIC RELATIONS EMERGING MARKET EXCHANGE RATE REGIME EXPENDITURE EXPORT EXPORT BASKET EXPORT BASKETS EXPORT COMPETITIVENESS EXPORT GROWTH EXPORT INSURANCE EXPORT MARKET EXPORT MARKET SHARE EXPORT MARKETS EXPORT OPPORTUNITIES EXPORT PERFORMANCE EXPORT PRODUCTS EXPORT PROMOTION EXPORT PROMOTION POLICIES EXPORT RATIO EXPORT SALES EXPORT SECTOR EXPORT SECTORS EXPORT VALUE EXPORTERS EXPORTS FINANCIAL CRISIS FLEXIBLE EXCHANGE RATE FOOD INDUSTRY FORECASTS FOREIGN COMPETITION FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FREE TRADE FREE TRADE AGREEMENT GDP GDP PER CAPITA GLOBAL EXPORTS GLOBAL IMPORTS GLOBAL TRADE GROSS DOMESTIC PRODUCT GROSS VALUE GROWTH RATE HUMAN CAPITAL IMPORT PRODUCTS IMPORT RESTRICTIONS IMPORT VALUE INCOME INCOME LEVELS INCOMES INFLATION INTERMEDIATE INPUTS INTERNATIONAL INVESTORS INTERNATIONAL TRADE INTERNATIONAL TRADE COMMISSION ITC MACROECONOMIC POLICY MARKET CONCENTRATION MARKET CONDITIONS MARKET ECONOMIES MARKET ENTRY MARKET PENETRATION MARKET SHARE MARKET SHARE CHANGES MARKETING MERCHANDISE MERCHANDISE EXPORTS MOST FAVORED NATION MULTINATIONAL CORPORATIONS NATIONAL ECONOMIES OPEN MARKET PER CAPITA INCOME PREFERENTIAL TRADE PREFERENTIAL TRADE AGREEMENTS PRICE COMPARISON PRODUCT QUALITY PRODUCTIVITY GROWTH PURCHASING PURCHASING POWER REAL EXCHANGE RATE REAL INCOME SALES SKILLED LABOR SPECIALIZATION TAX TECHNOLOGY TRANSFER TELECOMMUNICATIONS TOTAL FACTOR PRODUCTIVITY TOURISM TRADE AGREEMENT TRADE BARRIERS TRADE COMPETITIVENESS TRADE COSTS TRADE DEFICIT TRADE FLOWS TRADE IN SERVICES TRADE INDICATORS TRADE PERFORMANCE TRADE POLICY TRADE REGIME TRADE REMEDIES TRADE VOLUME TRANSITION ECONOMIES VALUE ADDED VALUE OF EXPORTS WAGES WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/2014/05/19918132/turkey-trading-up-high-income-country-economic-memorandum http://hdl.handle.net/10986/19320

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Summary:	Turkish exporters substantially broadened market reach, exporting to 137 countries at present, up from 90 in 2000. Turkey's global market share rose substantially from 0.55 percent of global imports in 2002 to 0.82 percent in 2012. Turkey aims to become one of the ten largest economies in the world by 2023, with per-capita gross domestic product (GDP) rising to United States (U.S.) $25,000 and exports to U.S. 500 billion dollars. This report focuses on Turkey's competitiveness from the supply side, but it is important to note that ensuring a more balanced mix of financing for the required investment through measures to boost domestic savings is equally important if Turkey's progress is to be sustained. Achieving Turkey's export target is possible and it will likely require a larger global market share. The relatively low level of foreign direct investment (FDI) in Turkish manufacturing has been a constraint to export growth and quality improvements. Raising export growth to levels that help meet Turkey's development goals will require a policy agenda that targets sustained further improvements in Turkey's physical, human, and institutional capital. This report prioritizes broader policies that are fundamental for Turkey to export its way out of middle-income. Chief among these are policies that: (i) link the country further with international markets, including by helping bring larger inflows of FDI, particularly into the manufacturing sector; (ii) promote innovation, including by encouraging a large role for private companies in research and development (R and D); (iii) upgrade the skills both of the existing work force and new entrants; and (iv) improve access to finance, particularly long-term, with a view to unlock the potential of the dynamic small and medium enterprise (SME) sector.