Turkey : economic indicators and trade with EU

Abstract

The EU is Turkey's number one trading partner, and Turkey the EU's fifth trading partner – and the only one with which the EU has concluded a custom union. Turkish growth remains strong (4% in 2015 against 2% for the EU), even if unemployment remains at a high level, around 9%. Nevertheless, Turkey's economy is driven by exports and foreign investment, inflation remains strong (around 7%, while the euro area aims at 2%) and the Turkish lira remains volatile. In the framework of accession negotiations, the EU is assisting Turkey with reforms, to a total budget of €4 454 million (2014-2020). Our infographic, produced in close cooperation with GlobalStat, provides a quick and useful overview of Turkey's main economic and trade data, as well as of the EU's financial assistance