Turkish economy

US President Donald Trump (L) and Turkey's President Recep Tayyip Erdogan (R) leave the stage after the family photo to head to the plenary session at the NATO summit at the Grove hotel in Watford, northeast of London.

Turkey scraps tariffs on some US imports ahead of Erdogan-Trump meeting

The reversal of the levies was announced in Turkey’s Official Gazette on Monday, affecting goods such as passenger cars, fruit, rice, cosmetics, solid fuels and chemical products.

DIMITAR DILKOFF/AFP via Getty Images

As EU tries to wean off Russian gas, pipeline imports via Turkey rise

The European Union is importing more Russian gas via Turkey despite efforts to end imports from Russia.

Serdar Ozsoy/Getty Images

Turkish markets, lira gain as Ankara delays ruling on opposition head's ouster

An Ankara court adjourned a case to October 24 to ouster the opposition CHP party's chairman, as part of a long-running political crackdown by the ruling AKP party.

New cars are seen on the dock of Haydarpasa Port on May 02, 2025 in Istanbul, Turkey.

Turkey's trade deficit falls to lowest level in nearly four years: What to know

Turkey’s trade deficit in August shrank to $4.17 billion, its lowest level in 46 months, Trade Minister Omer Bolat said.

Latest News

Turkish Tesla sales soar in August, surpassing European, Japanese rivals

A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas.

Analysis

Turkey to end costly $60B currency-protection scheme — for now

In this photo illustration, Turkish liras are displayed, on Aug. 27, 2018, in Istanbul, Turkey.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Analysis

Turkey’s military shake-up: Adapting to new threats or political meddling?

Turkish soldiers march, including some on horses, during a military parade marking the 102nd anniversary of the Victory Day at Vatan Street in Istanbul on Aug. 30, 2024.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Turkey’s Fidan to visit Egypt with Libya, Gaza on agenda

Badr Abdelatty

People shop at a local street market in Istanbul, Turkey, May 3, 2023.

Turkey’s inflation falls to four-year low of 33.5%: What to know

Treasury and Finance Minister Mehmet Simsek said on X that annual inflation had fallen to its lowest level in 44 months.

An export train to Russia and China leaves the Ankara station, on Jan. 29, 2021.

Turkey secures $2.8B green financing for Azerbaijan railway: What to know

The 223-kilometer railway will connect to the existing train route that joins Turkey’s northeastern city of Kars and the Georgian and Azerbaijani capitals of Tbilisi and Baku.

Iraqi workers tend to a pipe at the Iraqi-Turkish pipeline in Karkuk, northern Iraq, Dec. 1, 2000.

Why Turkey plans to end its 52-year oil pipeline deal with Iraq

The Turkish decree stipulated that the 1973 Turkey-Iraq Crude Oil Pipeline Agreement — along with all amendments to the deal — would be terminated effective July 27, 2026.

ADEM ALTAN/AFP via Getty Images

Turkey closes livestock markets amid foot-and-mouth disease outbreak: What to know

The Agriculture Ministry has closed all livestock markets to prevent spread of the disease while vaccination efforts are underway.

Flags flutter along a bridge as a plume of heavy smoke and fire rise from an oil refinery in southern Tehran, after it was hit in an overnight Israeli strike, on June 15, 2025. Iran fired a fresh barrage of missiles at Israel, state television announced early on June 15, as the rivals exchanged fire for a third day. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

Analysis

With over 85% imported, Turkey braces for energy ripples of Iran-Israel war

Rising oil prices threaten Turkey’s fragile economy amid escalating regional tensions, while energy supply risks grow.

Ezgi Akin

In Ankara, reporting on diplomacy, EU-Turkey ties, NATO

People enjoy the sun and the sea along the Kadinlar Beach of Kusadasi on July 17, 2005.

Turkey: $30M credit card scam hits tourists in coastal resort, 20 arrested

The alleged ringleader, a hotel owner identified as "H.O.," stole the money by sharing credit card details of tourists checking into the property.

Price tags of olives are seen at a store on March 3, 2025, in Istanbul, Turkey

As Turkey's inflation dips to 35%, will central bank pivot on interest rates?

Inflation has slowed to the lowest level since 2021, sparking speculation that the central bank could resume easing monetary policy amid mounting pressure on Turkey's finance chief — but analysts caution against a rush.

People look at the Hurjet, an advanced jet trainer light attack aircraft, during the opening day of the International Defense and Aerospace exhibition in Istanbul, Oct. 22, 2024.

Analysis

Can Turkey's Hurjet deal with Spain propel it into NATO’s defense market?

Spain’s choice of Turkey’s Hurjet reflects Ankara’s growing credibility as an arms supplier, increasing the prospect of broader cooperation in Europe’s defense sector.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

TAUSEEF MUSTAFA/AFP via Getty Images

India wages economic war on Turkey for supporting Pakistan in Kashmir

Turkish business interests are taking a hit as India retaliates against Ankara’s backing of Pakistan on Kashmir.

JOHN THYS/AFP via Getty Images

New German government to decide on Eurofighter sale to Turkey: Officials

Germany’s outgoing government will leave the Eurofighter sale decision to incoming Chancellor Friedrich Merz, official German sources suggested to Al-Monitor.

KARIM JAAFAR/AFP via Getty Images

Turkey’s Simsek tours US for IMF, WB summits, Treasury Secretary meeting

Turkey’s finance czar is starting his trip in New York before heading to Washington for talks on economic cooperation and global financial issues.

People walk past a currency exchange board showing the Turkish Lira which fell to historic lows against the dollar after the news of the arrest of Istanbul Mayor Ekrem Imamoglu on March 19, 2025 in Istanbul, Turkey.

Turkey hikes interest rate to 46% amid turmoil over Imamoglu’s arrest

The rate hike marks the first since March 2024, amid growing economic turmoil following the arrest of Istanbul Mayor Ekrem Imamoglu.