42
Talking Turkey
Continuing our series of country profiles we spent a February week in Turkey – long travelling days,
impeccable hospitality,…. and incessant rain. Here we explore an economy intent on entering the world’s
top ten. The following pages look at some of the general aspects of its fastener industry and continue with
profiles of some of Turkey’s leading fastener producers.
December 27 and local suppliers say it
has only worked one week in three since.
The company has laid-off a tenth of its
7,000 workforce. Oyak Renault also halted
production, resuming at substantially reduced
output levels. Ford Transit production in Turkey
was planned for 2010 but the project is now
expected to be delayed.
Electrical machinery, particularly for
domestic use, has grown to an estimated 4%
of Turkey’s manufacturing industry generating
2007 exports of 3.5 billion euros – 65% of
this in refrigerators and other household
appliances. Other machinery sectors also
represent significant export sales generators –
construction and mining machinery was worth
665 million euros in 2007; machine tools 425
million euros; textile machinery 188 million
euros and food processing and packaging
equipment 164 million euros.
Turkey’s electronics industry has also seen
substantial inward investment. 2007 exports
Turkey occupies the meeting ground of Asia euros at official exchange rate. Industry were valued at 3.85 billion euros, nearly half in
and Europe - geographically, economically and accounts for approaching 29% of GDP. A third consumer electronics, particularly televisions.
culturally. The total population is 71.5 million, of employment remains in the traditionally Turkey has around 50 shipyards with capacity
quadrupling since the first official census in strong textiles and clothing sector but in for 10 million dwt in repair and maintenance
1927, most of the growth coming post 1945. the last decade rapid growth has been and 1.8 million dwt in new shipbuilding. In
Istanbul is the largest city with a population, achieved in automotive, electronics, domestic 2007 the industry exported 1.4 billion euros,
according to a 2007 survey, around 11.5 appliance and furniture. These, together with a 28% increase year on year. Main export
million. With continued inward migration and construction, worth around 7% of GDP, have groups were cruise and excursion ships, low
expansion of the city’s limits the real figure is underpinned the development of the Turkish tonnage tankers and cargo ships, and luxury
probably significantly higher. fastener industry. boats – Turkey ranked four in the world list for
The work force is large, with around half Automotive exports from Turkey, mainly to producing 25 metre or longer “mega-yachts”.
the population under the age of 35 years, Europe, were 16.5 billion euros in 2007. Five Turkey is recognised as the furniture production
although the birth rate has fallen since 2000. companies currently produce passenger cars in centre for the Middle East. Exports increased
Literacy rate in over 15 year olds is estimated Turkey – Renault, Tofas (a FIAT joint venture), from 83 million euros in 1998 to around
at 88%. While Turkey sprawls across 770,000 Toyota, Hyundai and Honda. Nine companies 800 billion euros in 2007, and the industry
square kilometres, more than twice the area produce trucks and ten produce buses – both has a massive domestic market with 30,000
of Germany, a quarter of its population live lists include M.A.N., Mercedes Benz and Ford. companies involved in furniture making.
in the three main cities; Istanbul, the capital Turkey produces more buses than any Turkey’s medical equipment and supplies
Ankara, and Izmir. The main concentrations of EU state and rates third in light commercial industry has also been fast developing –
industrial development are within a triangle vehicle output. 2007 total vehicle production achieving exports of around 122 million euros
formed in the west by these three. Anecdotal was 1.13 million units: 71% of value going in 2007.
assessments place Turkish skilled labour rates to the EU. While 2007 car exports grew 14%, Turkey’s 25 million tonnes of steel
close to those of Eastern European states. Per commercial vehicle exports increased 39%. production is primarily achieved through
capita income has increased four fold since Also in 2007 Turkey exported 4.75 billion euros electric arc furnaces using scrap rather than
2002 to approaching 8,000 euros - driving, at of automotive parts, two-thirds to EU countries. iron ore as primary raw material. Around 85%
least until recently, healthy domestic demand. Export-led, as it is, the Turkish automotive of production is in long products, much of it
Agriculture still represents 35% of market has been hit hard by current economic destined, until recently, for construction around
employment and contributes around 8.5% conditions. Honda has held off planned the Gulf and Middle East. Cold heading
of GDP – estimated in 2008 at 650 billion investment. Tofas stopped production from wire production is limited, recently coming
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