BNP Paribas in Turkey News & Press
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February 23, 2011 -

The Turkish Newsletter February 22nd, 2011

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During the last two weeks, the Turkish economy was highlighted by the following items:

  • Current Account deficit widened by US$7.5bn in Dec10, bringing the 2010 year-end deficit to US$48.5bn (from US$13.9bn posted in 2009), increasing year-end CA/GDP expectation to 6.5%.
  • Budget balance turned into a surplus of TL1.0bn in Jan11 and primary balance into a surplus of TL4.8bn.
  • Industrial Production increased by 13%y/y in 2010 following a 16.9%y/y surge in Dec10.
  • Unemployment rate slightly decreased by 40bps over the previous month to 11.2% in Nov10.
  • Banks displayed strong financial performances for the year 2010.

The Turkish Newsletter February 22nd, 2011 (126 ko)