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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Turkey has a well-developed food and beverage industry, which serves a population of over 82mn and around 40mn tourists annually. The sector accounts for almost 14% of Turkey’s total industrial production and is among the few having a positive ...
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Turkey’s agriculture sector generates nearly 6% of the country’s GDP and provides employment for almost a quarter of the workforce, as it is the principal employer in rural areas. The sector benefits from favourable geographical ...
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The Emerging Europe region as covered by the scope of the report consists of Russia, Romania, Turkey, Poland, Hungary and the Czech Republic (listed in order from the largest to thesmallest oil producers). In terms of their importance on the natural ...
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Turkey’s healthcare system has been fully reformed under the 2003-2013 Health Transformation Programme (HTP), which helped expand the coverage and quality of health services across the country. Health insurance coverage reached 98.4% of the ...
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Turkey ranks 10th in the world in terms of mineral diversity, holding 0.4% of the global metallic mineral reserves, 2.2% of the industrial raw material reserves and 1% of the coal reserves, according to data provided by the Turkish energy ministry ...
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Proximity to Western European markets, low-cost skilled labour and favourable investment environment have turned Emerging Europe into a preferred location for major automotive producers and helped the region claim an increasing share of the global ...
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Turkey’s automotive sector recorded solid growth in 2017, with production and exports hitting new record highs for the third straight year. The surge was supported by increased investments, with local automotive manufacturers expanding their ...
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Turkey has insignificant oil and gas reserves and imports more than 90% of the energy resources that its fast-growing economy needs. The government has initiated a number of projects to enhance exploration of both onshore and offshore blocks in order ...
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Turkey’s insurance sector witnessed robust growth throughout 2013-2017, with premiums rising at a compound annual growth rate (CAGR) of 18.6% over the five-year period. Expansion was supported by increasing employment, consumption and ...
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Turkey’s construction sector has experienced rapid growth in recent years, driven by supportive government policy. The state has launched a series of large infrastructure projects and development programmes that have helped the industry become ...
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