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Turkish Economic Confidence Index Grew by 4.5% in July

Written by: Bridgewest

Turkish-economic-confidence-index-grows-by-4The Turkish economy is on the rise and one of the main factors contributing to its increase is the confidence of investors and of the population. Moreover, the confidence level in the economy has reached its highest peak since November 2013. Retail and services were the industries registering the highest growth in July. Enterprisers who want to open companies in this country can rely on the support offered by our company registration agents in Turkey.

The Turkish economy is a resilient one

The latest report issued at the end of June by the Turkish National Statistical Institute (TUIK) announces one of the highest economic confidence levels in the last periods of time. The economic confidence index rose by 4.5% in July, reaching 103.4 points, up from the 98.9 points registered in June. This was also the highest score registered by the index since the end of 2013.

Both investors and the population are more confident in Turkey’s economy which have made it more resilient compared to the beginning of the year.

Foreign businessmen who want to open companies in Turkey can choose from industries like retail and services which currently registering the highest confidence levels. Our Turkish company formation consultants can explain the regulations of starting a business in this country.

Retail and services the backbone of the Turkish economy

The two industries mentioned above ranked highest in the report issued by TUIK. In numbers, the retail trade confidence index rose the most in the past month: 107.3, 6.6% higher than the previous month.

The services industry also gained the confidence of the population, reaching 103.7 in July, 5% higher than June. The consumer confidence index also increased by 1.9% on a monthly basis, reaching 71.3 points.

The only industries registering slight decreases were real estate and construction, however these drops were of 1%, respectively 1.4% in July.

Foreign investors interested in investing in Turkey can also rely on agriculture which is currently the most prolific economic sector. No matter the type of company you are planning to open, do not hesitate to contact our company formation representatives in Turkey for assistance.

 

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