Turkey goes from strong to stronger and the director of Turkey's central bank said that growth in the last quarter of 2010 will probably prove to be higher than the economic growth that was registered in the previous quarter. The growth in the 3rd quarter of 2010 was 5.5% which was less than the 11% recorded in the first 6 months.
But these numbers are expected to rise when industrial production has increased as a consequence of reverted request in the export market. The growth in Turkey has been run by the Turkish buyers because the export market was affected by the economic crisis.
Now that the global economy continues to regain its strength, the economy in Turkey continue to be strong. Especially since many corporations and companies have recruited heavily over the last three months of 2010. While the world economy's weight has been estimated at 3.9% over the past year, the World Bank's figures for Turkey are more than twice with 8.1%. Turkey has also gained stronger ties to the Gulf. The Prime Minister has visited Kuwait and Qatar, and with these countries' strategic position, this makes sense from an economical point of view. More than 50% of Turkey's trade is with Europe, while trade with the Gulf States has been low. Turkey wants to increase trade, and this will benefit the country by giving people better personal finances, which in turn will strengthen their purchasing power.
One of the areas that can expect to benefit from the increased purchasing power is of course the real estate sector that is still relatively new.