Economy - overview: Turkey's economy is increasingly driven by its industry and service sectors, althou gh its traditiona l agriculture

sector still accounts for about 30 % of employment. An aggressive privatization pro gra m has reduced state involveme nt in basic industry, banking, transport, and communication, and an e merging cadre of middle -cla ss entrepreneurs is adding d ynamism to the economy. Turkey's traditional textiles and clothing sectors still account for one -third of industrial emplo yment, despite stiff competition in international markets that resulted from the end of the global quota system. Other sectors, notably the automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to f low through the BakuTbilisi-Ceyhan pipeline in May 2006 , marking a major milestone that will bring up to 1 million barrels per day f rom the Casp ian to marke t. Several gas pipelines also are being planned to help move Central Asian ga s to Europe via Turkey, which will help a ddress Turkey's dependence on energy imp orts over the long te rm. After Turkey expe rienced a severe financial crisis in 2001 , Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthe ned the country's economic fundamentals and ushered in an era of strong g ro wth - averaging more than 6% ann ually until 2008, when global economic conditions and tighter fiscal policy caused GDP to contract in 2009, reduce d inflation to 6.3 % - a 34year low - and cut the public sector debt-to-GPD ratio below 50%. Turkey's well-regulated financial markets a nd ban king system weathered the global f inancial crisis and GDP rebounded strongly to 7.3% in 2 010, as exports returned to normal levels following the recession. The economy, however, continues to be burdened by a high current accoun t deficit and remains d ependent on often volatile, short-term investment to finance its trade deficit. The stock value of FDI stood at $174 billion at year-end 2010, but inflows have slowed considerably in light of continuing economic turmoil in Europe, the sou rce of much of Turkey's FDI. Furth er economic and judicial reforms and prospective EU membership are expected to boost Tu rkey's attractiveness to foreign in vestors. However, Turkey's relatively high current account deficit, uncerta inty related to policy-making, and fiscal imba lances leave the economy vulnerable to destabilizing shifts in investo r confidence. GDP (purchasing power parity): $960.5 b illion (2010 e st.) country c omparison to the world: 17 $887.7 b illion (2009 e st.) $931.4 b illion (2008 e st.) note: data are in 2 010 US dollars GDP (official exc ha nge rate): $741.9 b illion (2010 est.)

GDP - real growth rate: 8.2% (2010 e st.) country c omparison to the world: 16 -4.7% (2009 e st.) 0.7% (2008 e st.) GDP - per capita (PPP): $12,300 (2010 est.) country c omparison to the world: 94 $11,600 (2009 est.) $12,300 (2008 est.) note: data are in 2010 US dolla rs GDP - composition by sector: agriculture: 9.6% industry: 26.7% services: 63.8% (2010 est.) Labor force: 25.64 million country c omparison to the world: 24 note: about 1.2 million Tu rks work abroad (2010 est.) Labor force - by occupation: agriculture: 29.5% industry: 24.7% services: 45.8% (2005 ) Unemployment rate: 12% (2010 est.) country c omparison to the world: 128 14.1% (2009 est.) note: underemployment amounted to 4% in 2008 Population below poverty line : 17.11% (2008) Household income or consumption by percentage share: lowest 10%: 2.1% highest 10%: 30.3% (200 8) Distribution of family income - Gini index: 39.7 (2008) country c omparison to the world: 64 43.6 (2003) Investment (gross fixed):

18.7% of GDP (2010 est.) country c omparison to the world: 134 Budget: revenues: $169 billion expenditures: $195.4 billion (2010 est.) Taxes and other revenues: 22.8% of GDP (2010 est.) country c omparison to the world: 133 Budget surplus (+) or deficit (-): -3.6% of GDP (2010 est.) country c omparison to the world: 113 Public debt: 43% of GDP (2010 est.) country c omparison to the world: 65 46.4% of GDP (2009 est.) Inflation rate (consumer prices): 8.6% (2010 e st.) country c omparison to the world: 194 6.3% (2009 e st.) Central bank discount rate: 15% (22 December 2009) country c omparison to the world: 6 25% (31 December 2008) Commercial bank prime le nding rate: 19% (31 December 2010 est.) country c omparison to the world: 18 21% (31 December 2009 est.) Stock of narrow money: $58.27 b illion (31 December 2010 est.) country c omparison to the world: 42 $46.72 b illion (31 December 2009 est.) Stock of broad money: $400.3 b illion (31 December 2010 est.) country c omparison to the world: 23 $349.6 b illion (31 December 2009 est.) Stock of dome stic c redit:

$496 billion (31 December 2010 est.) country c omparison to the world: 26 $402.6 b illion (31 December 2009 est.) Market value of publicly traded sha res: $306.7 b illion (31 December country comparison to the $225.7 b illion (31 December $117.9 b illion (31 December Agriculture - produc ts: tobacco, cotton, grain, olives, suga r beets, hazelnuts, pulse, citrus; livestock Industries: textiles, food proce ssing, autos, electronics, mining (coal, chromate, copper, b oro n), steel, petroleum, construction, lumbe r, pap er Industrial production growth rate: 13.1% (2010 est.) country c omparison to the world: 15 Electricity - produc tion: 185.2 billion kWh (2009 est.) country c omparison to the world: 21 Electricity - consumption: 161 billion kWh (2008 est.) country c omparison to the world: 21 Electricity - exports: 1.55 billion kWh (2009 est.) Electricity - imports: 737 million kWh (20 09 est.) Oil - produc tion: 55,110 bbl/day (2010 est.) country c omparison to the world: 60 Oil - consumption: 646,300 bbl/day (2010 est.) country c omparison to the world: 27 Oil - exports: 68,450 bbl/day (2009 est.) 2010) world: 28 2009) 2008)

country c omparison to the world: 75 Oil - imports: 581,000 bbl/day (2009 est.) country c omparison to the world: 21 Oil - proved rese rves: 270.4 million bbl (1 January 2011 est.) country c omparison to the world: 58 Natural gas - produc tion: 674 million cu m (2010 est.) country c omparison to the world: 66 Natural gas - consumption: 38.12 billion cu m (2010 est.) country c omparison to the world: 25 Natural gas - exports: 649 million cu m (2010 est.) country c omparison to the world: 39 Natural gas - imports: 38.04 billion cu m (2010 est.) country c omparison to the world: 9 Natural gas - proved reserve s: 6.173 billion cu m (1 January 2011 est.) country c omparison to the world: 87 Current account balance: -$48.42 b illion (2010 e st.) country c omparison to the world: 190 -$13.99 b illion (2009 e st.) Exports: $120.9 b illion (2010 e st.) country c omparison to the world: 32 $109.6 b illion (2009 e st.) Exports - commodities: apparel, foodstuff s, textiles, metal manufacture s, transport equip ment Exports - partne rs: Ge rmany 10.1%, UK 6.4%, Italy 5 .7 %, Fran ce 5.3%, Iraq 5.3%,

Russia 4.1% (2010) Imports: $177.3 b illion (2010 e st.) country c omparison to the world: 23 $134.5 b illion (2009 e st.) Imports - commodities: machinery, ch emicals, semi-finished goods, fuels, transpo rt equip ment Imports - partners: Russia 11.6%, Germa ny 9.5%, China 9.3%, US 6.6%, Italy 5 .5%, France 4.4%, Iran 4.1% (2010) Reserves of foreign exchange and gold: $86.08 b illion (31 Decemb er 2010 est.) country c omparison to the world: 23 $75 billion (31 December 2009 est.) Debt - external: $309.6 b illion (30 June 2011 est.) country comparison to the world: 29 $290.7 b illion (31 December 2010 e st.) Stock of direct foreign investme nt - at home: $86.98 billion (31 December 201 0 est.) country c omparison to the world: 36 $77.7 billion (31 December 2009 est.) Stock of direct foreign investment - abroad: $16.88 b illion (31 December 2010 est.) country c omparison to the world: 46 $15.42 b illion (31 December 2009 est.) Exchange rates: Turkish liras (TRY) per US dollar 1.5181 (2010) 1.55 (2009) 1.3179 (2008) 1.319 (2007 ) 1.4286 (2006)