Analysis

Turkey's relaunched privatisation programme threatened by currency volatility and political risk
OBG
plus

Following the global financial crisis and the slowdown in international financing, Turkey struggled to garner interest in its privatisation programme and nearly a decade of successful liberalisation slowed dramatically. In 2011 privatisation revenues were $1.4bn, down from a peak of $8.1bn in 2006. However, the programme came roaring back in 2012. While some obstacles had begun to emerge in 2015, several…

Analysis

Turkey plans nationwide 4G mobile network rollout to expand telecoms services
OBG
plus

New spectrum allocations and a fourth mobile licence offering are expected to provide a fillip for Turkey's telecoms sector, which in recent years has benefitted from rising mobile and internet penetration, driven by its young, tech-savvy population. In March 2015 the transport and communications minister, Lütfi Elvan, announced a tender for 4G mobile data services, which is expected to end in August.…

Overview

Turkey's banking sector sufficiently well-capitalised to deal with foreign exchange exposure
OBG
plus

Turkey’s banking sector has proved resilient to both the global economic crisis and more recent fluctuations in the country’s economy. Loan growth remains fairly high by developed-market standards but has trimmed in recent years, reflecting the market’s increasing maturity as well as regulatory moves to contain credit expansion with an eye on risk profiles. In the medium to long term, the market…

Overview

Turkey's capital markets to attract new listings through regulatory reforms and multi-tier trading platforms
OBG
plus

Turkey’s stock exchange, the Borsa Istanbul (BIST), had a bumper year in 2014. It was ranked as the fifth most profitable exchange globally, with the BIST 100 index rising by 26% and closing at a record year-end high. While the early months of 2015 were more muted for the BIST, the appeal of the exchange and many of its listed stocks to investors is still strong. Core Features As of the end of…

Overview

Turkey's insurance sector to see greater product diversity and continued premium growth
OBG
plus

Whereas the global insurance industry saw growth slow over the course of 2013 and 2014, Turkey’s insurance sector displayed resilience, making it an attractive industry for investment and expansion opportunities. Despite fluctuations in other sectors and a depreciation of the local currency, in real terms Turkey’s insurance sector experienced significant expansion in both life and non-life segments. Consolidation One…

Overview

Turkey's new retail law driving formalisation in the sector, while local retailers expand internationally
OBG
plus

With the size of the market widely expected to double over the next decade, Turkey represents a major opportunity for retailers. Yet with recent years seeing big internationals pulling out or downsizing their participations, and as the pace of economic growth slows, consumer confidence is weakening and some challenges do remain. At the same time though, local groups have thrived, with this applying…

Overview

Slower industrial growth in Turkey met with strong market fundamentals and rising exports
OBG
plus

Turkey’s industry includes a wide variety of manufacturers, primary producers and traders, responsible between them for a major share of the country’s GDP. Indeed, in 2014, exports by the entire automotive industry (including components) alone reached $22.27bn – more than the entire GDP of Iceland. Steel, chemicals, pharmaceuticals, electrical and electronic equipment, building materials, cars,…

Overview

Turkey's construction sector to maintain its significant role in the economy, with several large projects under way
OBG
plus

Directly responsible for a significant share of GDP and with its contractors active right across the globe, Turkey’s construction sector has been at the forefront of the country’s recent economic development. Over the last decade, the sector has transformed the skyline of Istanbul and other cities, renewed and extended Turkey’s transport infrastructure, and built new communities and facilities…

Overview

Turkey's population and income growth fuelling real estate sector growth and attracting international interest
OBG
plus

From residential to retail property, the Turkish real estate market has flourished in the last few years. Buoyed by economic and demographic growth, rising incomes, market liberalisation and a major urban renewal programme, the sector has also been attracting strong international interest which has spread beyond traditional buyers in Europe and the Gulf, and beyond the traditional locations of the…