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Contents 1 Comments 1.1 update 1.2 Inflation rate 1.3 GDP table from [1] has unreliable data 1.4 Osmium 1.5 Opening Paragraph 1.6 New Statistical Yearbook available 1.7 Fair use rationale for Image:TurkishYTL.JPG 1.8 Labor 1.9 Wage from 2007 1.10 Eurostat-revised GDP figures of Turkey will be officially announced on March 31, 2008

[edit] Comments

[edit] update

the information on the article is mostly from the year 2002. it would be nice if somebody could update the information

Ihave updated the labor statistics according to march 2007 data from tuik. http://www.tuik.gov.tr/PreHaberBultenleri.do?id=512 --195.174.28.201 12:32, 15 June 2007 (UTC)

[edit] Inflation rate

How high did inflation get in the 1990's when the situation was at its worst? -EnSamulili 11:56, 21 November 2005 (UTC)

[edit] GDP table from [1] has unreliable data

The table uses data from [2], which is unreliable as admitted in that page itself:

Note to users : Some IFS variables appear to experience a change of scale (units) across time. These are not footnoted. Please double-check units if there is any question. EconStats does not guarantee data accuracy.

Here is why I believe the data is incorrect:

• It says the GDP (in units of trillion old Turkish liras) was 3,995,488,256 in 1989, 5,445,632 in 1990, 7,000,806,400 in 1991, 25,869,310 in 1992, 9,977,501,700 in 1993, 67,302,400 in 1994 and 9,750,301,700 in 1995. How can the GDP decrease and increase alternatingly every year for a period of 6 years?
• Also, the table says the yearly growth in GDP was 75.9% in 1990, 60.3% in 1991, 73.5% in 1992, 81.3% in 1993, 95.2% in 1994 and 100.7% in 1995. How can this be consistent with the values quoted above? Should we believe in the GDP values or the percentage growth values?

Hence IMHO data from that table should not be used in Wikipedia. Thanks! -- Paddu 14:53, 21 May 2006 (UTC)

Turkey was under hyperinflation like Germany in 1920s. Why is it so difficult to understand? The new Turkish Lira arrived after 2000. Change of scale is irrelevant to current-priced data. It's relevant only in the context of constant prices of a particular base year. Both percentage changes and absolute values given are accurate. The percentages refer to changes in real output, not the current valuations of that output. What you believe is your humble POV, which is not necessarily more accurate than published figures of IMF Anwar 17:26, 21 May 2006 (UTC)

I am not talking about the new Turkish lira. I was very clear that the units were trillions of old Turkish lira.

I'd agree the GDP data was consistent with hyperinflation had the GDP absolute values in terms of the number of old Turkish liras kept increasing. Why did it decrease every alternate year in the data I quoted above? Was Turkey under hyperinflation every alternate year?

If the absolute value of GDP was in terms of the current value of the old Turkish lira, how could it differ from "real output"? Is "real output" measured differently for the different years?

BTW what is meant by the "accuracy of my POV"? I didn't present any data of my own! It would be nice if someone could explain the above things to a non-economist like me instead of simply accusing me of POV-pushing and vandalism. Thanks! -- Paddu 20:56, 21 May 2006 (UTC)

So let me talk of the "published figures of IMF". Refer to the PDFs in [3] and [4]. These don't give alternately rising and falling values for GDP both at market prices and at constant 1987 prices. So do we take the IMF's POV or econstats' POV? -- Paddu 21:17, 21 May 2006 (UTC)

Corrected. Thanks for the links. Your remarkable civility is noted, appreciated and reciprocated. Anwar 20:38, 23 May 2006 (UTC)

[edit] Osmium

It is stated that Turkey has world's largest Osmium reserves. I can't find any credible source that supports that. In fact, I cannot find a source that says there is any Osmium at all in Turkey. Unless a source is supplied, I am deleting.

[edit] Opening Paragraph

The opening paragraph almost sounds word for word off the economy section of the CIA World Factbook. Somebody want to reword the entire paragraph? crazyviolinist 15:05, 11 May 2007 (UTC)

[edit] New Statistical Yearbook available

Please update data for 2005 from here. Anwar 19:16, 26 June 2007 (UTC)

[edit] Fair use rationale for Image:TurkishYTL.JPG

Image:TurkishYTL.JPG is being used on this article. I notice the image page specifies that the image is being used under fair use but there is no explanation or rationale as to why its use in this Wikipedia article constitutes fair use. In addition to the boilerplate fair use template, you must also write out on the image description page a specific explanation or rationale for why using this image in each article is consistent with fair use.

Please go to the image description page and edit it to include a fair use rationale. Using one of the templates at Wikipedia:Fair use rationale guideline is an easy way to insure that your image is in compliance with Wikipedia policy, but remember that you must complete the template. Do not simply insert a blank template on an image page.

If there is other fair use media, consider checking that you have specified the fair use rationale on the other images used on this page. Note that any fair use images lacking such an explanation can be deleted one week after being tagged, as described on criteria for speedy deletion. If you have any questions please ask them at the Media copyright questions page. Thank you.

BetacommandBot (talk) 02:29, 12 February 2008 (UTC)

[edit] Labor

The first sentence makes no sense: "Turkey's workforce is flexible..." Flexible in what sense? Can a farm worker suddenly become a technician at an auto-plant? While I appreciate this page being started, it really needs a lot of work.

Todd (talk) 18:57, 12 February 2008 (UTC)

[edit] Wage from 2007

Why should one not accept wages from 2007? Marc KJH (talk) 19:33, 15 March 2008 (UTC)

Because if it was about a single country (just Romania), it would be O.K. But the Eurostat link (reference) belongs to 2006 for all countries, and when you change the number and ranking of a single country, it's not fair for the other countries (their numbers have obviously changed as well). Provide a Eurostat link for 2007 and then make the necessary changes for all countries, not just for Romania, as this is the Economy of Turkey article. Res Gestæ Divi Augusti (talk) 19:51, 15 March 2008 (UTC)

Anyone can add, as latest data as he wants. You can do it too, if you want. I only added it for Romania. Was is such a big deal for you? Marc KJH (talk) 19:54, 15 March 2008 (UTC)

BTW, here you have http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-SF-07-071/EN/KS-SF-07-071-EN.PDF This is for January 2007.--Marc KJH (talk) 19:57, 15 March 2008 (UTC)

And Turkey has only 298..Marc KJH (talk) 19:57, 15 March 2008 (UTC)

In 2006 it was €331, before the IMF asked Turkey to lower down the minimum wage. It's not "my error", check the previous Eurostat link for 2006: http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-NK-06-009/EN/KS-NK-06-009-EN.PDF By the way, Romania is still behind Latvia (and Turkey, obviously) :) Res Gestæ Divi Augusti (talk) 20:03, 15 March 2008 (UTC)

Right now is 237 EUR [5] in Romania and increasing very fast. I guess, while others lower, others develop faster :) It's about being European.. --Marc KJH (talk) 20:12, 15 March 2008 (UTC)

Just wait till the new figures for Turkey will be announced on March 31 -with a 32% rise on GDP figures, according to Eurostat. By 2009 we'll become a trillion dollar economy, and without EU funds. Res Gestæ Divi Augusti (talk) 20:23, 15 March 2008 (UTC)

Per capita is still very low. It's a cheap country. You depend on EU funds anyway. Marc KJH (talk) 20:25, 15 March 2008 (UTC)

Real GDP per capita will be around $9,500 (2007) while GDP-PPP per capita will be around $15,000 (2007) according to the new figures which will be announced on March 31. These are higher than Romania, and for a country with a population of 70 million. Res Gestæ Divi Augusti (talk) 20:27, 15 March 2008 (UTC)

Provide sources. Untill now there is http://www.economist.com/theworldin/forecasts/COUNTRY_PAGES_2008.pdf on the page and there is written: $6,670 (PPP: $10,380) :) Now, where is your 15,000? And compare with Romania: $8,550 (PPP: $11,490) --Marc KJH (talk) 20:32, 15 March 2008 (UTC)

Go to the Talk page of Turkey. You can find many resources there. Res Gestæ Divi Augusti (talk) 20:34, 15 March 2008 (UTC)

I went on page of Turkey. It's still (PPP: $10,380). I can't think thay you'll have 15,000 over night. Get real. And bring sources. Marc KJH (talk) 20:38, 15 March 2008 (UTC)

We are waiting for the official announcement on March 31. BTW, I posted the links below: Res Gestæ Divi Augusti (talk) 20:39, 15 March 2008 (UTC)

I hope too. Anyway, why you're so stuborn and bickering with others? We can discuss nice and all would be happy. I guess, Turkey will join EU soon.Marc KJH (talk) 20:42, 15 March 2008 (UTC)

LOL, I don't think so :) Anyway, I have many good Romanian friends and I was only upset at the stance of Olahus and have nothing against the Romanians in general. I would also appreciate your friendship :) Take care :) Res Gestæ Divi Augusti (talk) 20:44, 15 March 2008 (UTC)

You see. This is the same for Romanians. Now, let me challange you: who's having a more dynamic economy? http://www.realitatea.net/86439_EIU--PIB-ul-Romaniei-se-va-dubla-pana-in-2011-.html Check this, in 3 years GDP will double, that means every 4 years. What about Turkey? Marc KJH (talk) 20:47, 15 March 2008 (UTC)

You win, we lose :) Res Gestæ Divi Augusti (talk) 20:49, 15 March 2008 (UTC)

Check this one: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aWcK8JzFPb2o Res Gestæ Divi Augusti (talk) 20:40, 15 March 2008 (UTC)

Checked :) Good for Turkey. Marc KJH (talk) 20:42, 15 March 2008 (UTC)

[edit] Eurostat-revised GDP figures of Turkey will be officially announced on March 31, 2008

Two years ago Turkey decided to adopt the Eurostat GDP measurement system (instead of the current system which accepts the 1981 value of the Turkish Lira as standard, causing calculation errors) and the official results for the year 2007 will be announced on March 31, 2008, by the State Statistics Institute. JP Morgan estimates an instant rise of 25-30% in Turkey's GDP figures.

Real (Nominal) GDP per capita is expected to reach $9000 to $10,000 (2007) while GDP-PPP per capita is expected to reach $13,000 to $14,000 (2007). Real GDP in total will be around $650 billion (2007) while GDP-PPP in total will be around $850 to $900 billion (2007).

So don't be surprised:

http://www.hurriyet.com.tr/ekonomi/8383943.asp?gid=229&sz=3836

The link above has detailed information in Turkish. Res Gestæ Divi Augusti (talk) 20:41, 6 March 2008 (UTC)

According to the Turkish State Statistics Institute, Turkey's Real (Nominal) GDP in 2006 was $526,429,000,000, which is way more than The Economist forecast for 2008 (according to the old system) of $508,000,000,000:

http://www.tuik.gov.tr/PreHaberBultenleri.do?id=3912

Real (Nominal) GDP for the first 9 months of 2007 (by the end of 2007 Q3) was $489,250,000,000; which means that Turkey's Real (Nominal) GDP for 2007 (the full 12 months) will be around $650,000,000,000.

GDP-PPP should reach around $850 to $900 billion. Res Gestæ Divi Augusti (talk) 00:03, 9 March 2008 (UTC)

The issue of GDP and per capita income had become somewhat of a controversy so I feel the coverage should illustrate it. -- Cat ^chi? 04:30, 9 March 2008 (UTC)

More news regarding the issue:

http://www.turkishdailynews.com.tr/article.php?enewsid=98538

Economy 32 pct bigger with revised calculations

Monday, March 10, 2008

ISTANBUL – TDN with wire dispatches

Turkey's economy is about 32 percent larger than previously estimated after the Turkish Statistical Institute (TÜİK) changed the way it measures the Gross Domestic Product (GDP) to include more unregistered activity, reported Bloomberg.

Calculated with the new measurement system, the GDP in 2006 was YTL 758.3 billion ($608.9 billion), instead of YTL 576 billion, TÜİK Chairman Ömer Demir told a press conference Saturday on the major revision of the country's national accounts system. That suggests that the output of 2007 is around $645.5 billion, up from the $489 billion estimate Prime Minister Recep Tayyip Erdogan gave on Jan. 10. TÜİK will announce the full-year GDP on March 31.

TÜİK revised the country's 2006 per capita income up to around $7,500 from $5,480, reported the daily Hürriyet, citing Demir. The growth rate for the nine months of 2007 in fixed rate was revised to 5 percent, according to TÜİK's new national income calculation. According to the new calculations, the number of companies employing 10 people or more rose to 27,813 from a previous 11,293. The number of homes was revised and reaches 19.2 million instead of 13.9 million.

The revised national accounts represent major improvements in methodology, coverage, consistency and international comparability of Turkey's macro-economic statistics, announced TÜİK on its Web site. The main reason of the revision is the extension of the coverage and improvement of the methodology. The new GDP estimates have been compiled according to European System of Accounts (ESA-95), which is a comprehensive and integrated set of accounts. GDP series with 1998 as a base year increased by 31.6 percent in current prices for the year 2006 compared to GDP series with 1987 as a base year. The revised data for 2007 will be announced on March 31.

Res Gestæ Divi Augusti (talk) 19:42, 11 March 2008 (UTC)

And here's the related Bloomberg article:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aWcK8JzFPb2o

Turkish Economy 32% Bigger With Revised Government Calculations

By Ali Berat Meric and Steve Bryant

March 8 (Bloomberg) -- Turkey's economy is about 32 percent bigger than previously estimated after the government statistics agency changed the way it measures gross domestic product to capture more unregistered activity.

GDP in 2006 was 758.3 billion liras ($608.9 billion), compared with the 576 billion-lira figure produced under the previous measurement system, head statistician Omer Demir said in Ankara today. That suggests 2007 output was around $645.5 billion, up from the $489 billion estimate Prime Minister Recep Tayyip Erdogan gave on Jan. 10. Demir's agency will announce full-year GDP on March 31.

The increase in the GDP figures will make the nation's current-account deficit and debt decline as a proportion of the overall economy. That could help Turkey win a credit-rating upgrade. It will also bring the government closer to its goal of raising income per person to $10,000 by 2013 from about $6,900 last year.

``Under normal conditions this would have been quite a positive thing, said Yarkin Cebeci, an economist for JPMorgan Chase & Co. in Istanbul. ``But with the current environment of global risk aversion I don't think we'll see any significant market reaction.

The new calculation methods bring Turkey into line with European Union data standards. The revised figures, combined with better measurements of the size of the financial-services and manufacturing industries, provide a more accurate picture of the EU-membership candidate's economy, Demir said.

A higher GDP figure on its own will not be enough to prompt a credit-rating upgrade this year, Moody's Investors Service analyst Kristen Lindow said Jan. 9. Moody's would first change Turkey's outlook to ``positive from ``stable while it tracks the consequences of the changes before a possible upgrade in 2009 ``at the earliest, she said.

Turkey's foreign debt is rated Ba3 by Moody's and BB- by Standard & Poor's, three levels below investment grade.

To contact the reporters on this story: Ali Berat Meric in Ankara at americ@bloomberg.net; Steve Bryant in Ankara at sbryant5@bloomberg.net.

Last Updated: March 8, 2008 07:43 EST

Res Gestæ Divi Augusti (talk) 20:37, 15 March 2008 (UTC)