Turkish economy climbs into world top 20
Albawaba.Com reports on a recent report released by the Turkish Government that Turkey's Gross National Product (GNP) is almost $300 billion and that puts it among the 20 largest economies in the world.
The reports adds that 50% of the country's GNP is based upon imports/exports, mostly with EU and Turkey's neighboring + Arab countries. With a projected increase of over 50% to $2 billion in 2005 in trade between Turkey and its top Arab trade partner, UAE, due to "increased demand in the region for Turkish construction, machinery, furniture and textile goods", quoted by one Turkish official, Turkey's ranking is expected to climb further.
The reports adds that 50% of the country's GNP is based upon imports/exports, mostly with EU and Turkey's neighboring + Arab countries. With a projected increase of over 50% to $2 billion in 2005 in trade between Turkey and its top Arab trade partner, UAE, due to "increased demand in the region for Turkish construction, machinery, furniture and textile goods", quoted by one Turkish official, Turkey's ranking is expected to climb further.
Labels: middle east
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