According to the data of the Turkish Statistical Institute (TurkStat), Turkey’s economy has shown a growth rate of 7% in the first quarter of 2021. Unlike most economies struggling with the effects of Covid-19, Turkey’s economy grew at a larger than expected in the first quarter, outperforming the 6.7% forecast. Compared with other countries, Turkey’s […]
One of Turkey’s leading e-commerce company Trendyol received a new investment of $350 million from its partner company Alibaba. With this new investment, Trendyol increases its valuation to $9.35 billion and becomes the most valuable company in Turkey. With 86.50% of the company’s shares, Alibaba is the largest shareholder of Trendyol, which sold 347 million […]
With its unique part in the history of the world civilizations, Turkey has a rich culture and important role in the global economy, agriculture, and trade. There are many interesting facts about Turkey that are still not commonly known. Turkish economy was one of the few economies which grew despite the pandemic in 2020 Covid-19 […]
According to World Economic Outlook April 2021 report published by the International Monetary Fund (IMF), Turkey ranks 11th place globally in terms of GDP at PPP in 2020, up from 13th place in the previous year. IMF also revised the Turkish economy’s growth forecast to 6 percent in 2021, up from 5.5 percent. Turkey is […]
Chinese technology company Xiaomi opened a production factory in Istanbul on March 29, 2021, with supply giant Salcomp. According to Anatolian Agency, Xiaomi’s production factory established on a 14,000-square-meter (around 150,700-square-feet) area will employ 2,000 people with the promise of producing five million smartphones per year. Turkey is the fourth country in the world where […]
Founded in 2015, Getir becomes the second “unicorn” company in Turkey, with its valuation reaching $2.6 billion. Turkish rapid delivery startup Getir raised $300 million funding for its international expansion from Sequoia Capital and Tiger Global.
The European Bank for Reconstruction and Development (EBRD) increasing their finance for 2020’s in Turkey as the economy is set to bounce back.
