Turkish economy

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.

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

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

Elon Musk’s EV company sold 8,730 Model Ys in August, jumping 86% compared to July, according to data from Turkey’s Automotive Distributors and Mobility Association.

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

Analysis

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

Ankara could soon close the book on a monetary intervention launched to defend the lira in 2021, the latest pivot back to more conventional economic policies following the country's 2023 presidential election.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

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.

Analysis

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

A new personnel law reflects growing political influence over military decision-making, raising concerns about the military's meritocracy and autonomy.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Latest News

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

Badr Abdelatty

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

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

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

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

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

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

In an aerial view, a new housing project under construction for displaced earthquake survivors is seen in the Gulderen district on Feb. 1, 2024, in Hatay, Turkey.

With $104 billion in damages, Turkey’s earthquake region sees slow recovery

Turkey’s quake victims can hardly hope for a faster recovery, as Ankara seems to be keeping the pace of reconstruction tied to its overall economic roadmap, wary of overheating the fragile economy.

Turkish Central Bank Governor Hafize Gaye Erkan attends the Planning and Budget Commission of the Turkish Grand National Assembly (GNAT) in Ankara on Oct. 3, 2023.

Breaking | Last Updated: February 2, 2024, 6:35 pm

Turkey names Fatih Karahan as Central Bank chief after Erkan's resignation

Gaye Erkan's resignation comes after a series of allegations by former and current Central Bank employees accusing Erkan of unethical conduct.

Turkey inflation 1

Turkey’s Central Bank raises interest rates to 45%

A pause in hikes will follow, ahead of upcoming local elections in March, when Turkish President Recep Tayyip Erdogan is looking to regain control of key cities.

Turkish Central Bank Governor Hafize Gaye Erkan attends the Planning and Budget Commission of the Turkish Grand National Assembly in Ankara on Oct. 03, 2023.

Turkey's first female central bank chief faces potential axe amid nepotism claims

The question concerning Hafize Gaye Erkan's dismissal is increasingly not "if" but "when," observers say.

stock photo of market

Turkey’s year-end inflation soars to almost 65%

Newly announced minimum wage hikes and upcoming pay raises for public servants, workers and pensioners bode a resurgence of price spikes across the board.

Turkish President Recep Tayyip Erdogan.

Turkey’s exports to Saudi Arabia, UAE and Russia shoot up in 2023: Erdogan

The Turkish president also said the country’s total export revenues reached an all-time high.

Turkish President Tayyip Erdogan (L) arrives under the rain to the Turkish Parliament to take oath of office after his election win at the parliament in Ankara, Turkey, on June 3, 2023. Turkey's Recep Tayyip Erdogan was sworn in for a third term as president on June 3, promising to serve "impartially" after winning a historic runoff election to extend his two-decade rule. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

2023 in review: From disaster to diplomacy, a climactic year for Turkey

Ankara and NATO capitals are once again at loggerheads despite Turkey’s restoration vision put forward after the May elections.

Visitors inspect sniper rifles during the opening day of Egypt Defence Expo (EDEX-2023) at the Cairo International Exhibition Center, Dec. 4, 2023.

Is Turkey-Egypt rapprochement turning into a long-term defense partnership?

Rapidly improving defense cooperation between Cario and Ankara falls in line with Turkey's multidimensional strategic outlook, observes believe.

Turkey’s Central Bank delivers moderate rate hike

The bank said it has slowed the pace of monetary tightening, assessing that it is close to the level required to establish a course of disinflation.

Turkey's Erdogan declares 'new era' with Greece on landmark visit

The Turkish and Greek leaders vowed to maintain good neighborly relations in the interest of peace in the Agean Sea region.

ADEM ALTAN/AFP via Getty Images

What is behind Turkey’s inflation spike to 61.9% in November?

November's consumer prices also rose by 3.28%, data released by the Turkish Statistical Institute showed on Monday.

Gaye Erkan

Breaking | Last Updated: November 23, 2023, 10:50 am

Turkey’s Central Bank delivers larger-than-expected rate hike

The decision comes after Turkish President Recep Tayyip Erdogan said earlier this week that the lira's depreciation has come to an end.