The Economy of Turkey

Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for more than 35% of employment.

It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The largest industrial sector is textiles and clothing, which accounts for one-third of industrial employment. However, other sectors, notably the automotive and electronics industries, are rising in importance within Turkey's export mix.

Despite the strong economic gains from 2002-06, which were largely due to renewed investor interest in emerging markets, IMF backing, and tighter fiscal policy, the economy is still burdened by a high current account deficit and high debt.

The currency of Turkey is the Turkish Lira.