Turkish economy

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

Latest News

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

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

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

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

Analysis

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

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.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

India wages economic war on Turkey for supporting Pakistan in Kashmir

TAUSEEF MUSTAFA/AFP via Getty Images

A cargo ship sails out into the Bosphorus, Istanbul, Turkey, April 19, 2020.

Analysis

Will Turkey’s merchant class circumvent latest trade restrictions on Israel?

The Turkish government’s recent export restrictions against Israel will complicate their political relations, but even as bilateral trade declines, experts note that merchants on both sides will look for ways to circumvent the new measures.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Turkish Treasury and Finance Minister Mehmet Simsek looks on before the press conference following the cabinet meeting held at the Presidential Complex in Ankara on August 21, 2023. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Can Turkey’s economic czar stick to belt-tightening after election loss?

The Turkish government hopes that its remaining four-year mandate will give it time to placate popular anger before the next polls.

Protesters wave Turkish and Palestinian flags during a rally in solidarity with the Palestinians in Gaza, in Ankara on Dec. 24, 2023, amid ongoing battles between Israel and the Palestinian Hamas movement in the Gaza Strip.

Turkey's trade boycott of Israel: 'more theatre,' less substance

Turkey's ban on some exports to Israel aims to appease a domestic audience, but it could end up doing the most damage to Ankara and its flailing economy.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

Turkish cocaine bust

Lebanon-Venezuela kingpin detained in Turkey's 'third largest' cocaine bust

The Turkish Interior Minister reported some 1,340 pounds of cocaine seized in the operation, which also included the arrest of 13 people.

Turkey's President Recep Tayyip Erdogan speaks to supporters at his party’s Istanbul mayoral candidate Murat Kurum's campaign rally, Istanbul, Turkey, March 29, 2024.

Turkey restricts exports of 54 products to Israel until Gaza cease-fire

As Israel pledged to retaliate, analysts believe the move is aiming to allay growing dismay among Turkey's Islamists for the government’s refusal to sever trade ties with the Middle Eastern country over the Gaza conflict.

An undated image of the Kaan.

The long road ahead for Kaan, Turkey’s nascent fifth-generation fighter jet

Turkey’s aspiring ruler of the skies will need to overcome various challenges before it can truly become a fifth-generation fighter, analysts say.

Workers walk along at refinery No. 2 (Phases 2, 3) of the South Pars Gas-Condensate field.

Turkey, Iran launch talks on energy cooperation

The talks, aiming to enhance energy cooperation between the two countries, kicked off in Tehran.

Turkey heads to local elections amid voter apathy, unclarity for Erdogan

Melting purchasing power in Turkey looms large over the upcoming local elections.

Turkish minister of Treasury and Finance Mehmet Simsek is surrounded by journalists after making a statement during the group meeting of Justice and Development (AK) Party at the Turkish Grand National Assembly in Ankara, on June 21, 2023. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

How Turkey's economic, inflation policy hinges on upcoming local elections

The outcome of Turkey’s March 31 local polls is likely to influence Erdogan’s decision on whether to enact the tough disinflation measures favored by the economic leadership.

A teller holds Turkish lira banknotes at a currency exchange office in Istanbul, Aug. 13, 2018.

Breaking | Last Updated: March 21, 2024, 12:45 pm

In surprise move, Turkey’s Central Bank hikes interest rates to 50%

The move comes after the bank announced last month that it was pausing the hikes.

US Secretary of State Antony Blinken takes part in a meeting with Turkey's foreign minister, Hakan Fidan, in Washington, DC, on March 8, 2024.

Analysis

New visits, full momentum: Can Turkey and US go beyond transactionalism?

US-Turkey ties are heading in a positive direction, but it’s too soon to be optimistic, according to one expert.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Turkish Minister of Foreign Affairs Hakan Fidan speaks during a press conference at the Ministry of Foreign Affairs of Venezuela in Caracas on Feb. 24, 2024.

Turkey’s Fidan to meet Blinken in Washington as US ties strengthen

Hakan Fidan's meeting with Blinken comes on the heels of his meeting with Russian Foreign Minister Sergey Lavrov at the Antalya Diplomatic Forum.