Turkey is one of the fastest growing economies in the world and has a large young population. In addition, it continues to attract the attention of foreign investors with its strategic location and many other advantages.
Demographic Data about Turkey
Turkey's population is growing from 66.4 million in 2002 to 83.2 million in 2019;
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While the share of the working age population (15-64 years old) and the elderly (65+ years old) in the total population is increasing, the share of the population under 14 years old is decreasing. In 2021, the 0-14 age group represented 23.1 percent of the total population, the 15-64 age group 67.8 percent and the 65+ age group 9.1 percent.
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The reason for this change in the share of age groups in the total population is the increase in life expectancy due to both the total birth rate falling below the population renewal rate of 2.1 and the increase in the living standard in Turkey.
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If a nation attaches importance to the population and language factor, the more it strengthens it, the more it learns to protect itself and not be influenced by foreign cultures. In the past, the influence of the population in wars was high, but in today's technology, the population does not have much influence.
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The population is aging and the median age of the population is increasing as a result of increased life expectancy, while the birth rate is kept at replacement level.
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The importance of demographic data on Turkey is more clearly understood with the infant mortality rate. Due to improved health and living standards, the child mortality rate fell from 25 per thousand in 2002 to 9 per thousand in 2021.
Sectoral Data about Turkey
As a result of the collaborative work of the Turkish Statistical Institute and the Central Bank of the Republic of Turkey, sectoral balance sheets are presented to the public in full. While the last CBR survey in 2016 collected data from 8,721 companies through the survey, the 2021 survey was based on the accounts of 730,221 companies that kept balance sheet-oriented accounting. The current volume of the industry balance survey, the representation share is approximately 86% according to the annual industry and service statistics published.
In the study covering the period of 2009-2021 for sectoral data about Turkey, income statement and balance sheet data compiled by the Revenue Administration, employment data provided by the Social Insurance Institution and loan balances compiled from the Banks Association of Turkey Risk Centre reports were used.
What will the Turkish economy be like in 2022?
Pursuant to the financial studies conducted by the World Bank, the economic data about Turkey for 2022 are as follows:
In the report published in June 2021, it was estimated that the Turkish economy would grow by 5 percent in 2021, 4.5 percent in 2022 and 4.5 percent in 2023. However, the bank updated its forecasts in October 2021 and predicted that Turkey would grow by 8.5. Forecasts are 3 percent in 2022 and 4 percent in 2023.