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Confidence index increased in services sector while decreased in retail trade and construction sectors in Turkey

24.09.2020

Sectoral Confidence Indices, September 2020 in Turkey

Seasonally adjusted confidence index increased by 6.4% in services sector while decreased by 1.5% in retail trade and decreased by 2.0% in construction sectors in September compared to the previous month.

Seasonally adjusted sectoral confidence indices, September 2020

Seasonally adjusted sectoral confidence indices, sub-indices and the rate of changes,
September 2020

Services confidence index realized as 74.9

Seasonally adjusted confidence index which was 70.5 for services in August increased by 6.4% in September to 74.9. In services sector compared to the previous month, business situation over past three months sub-index increased by 12.8% to 71.3. Demand-turnover over past three months sub-index increased by 12.6% to 69.8 and demand-turnover expectation over next three months sub-index decreased by 2.8% to 83.7.

Seasonally adjusted services confidence and tendency indices, September 2020

Retail trade confidence index realized as 93.5

Seasonally adjusted retail trade confidence index decreased by 1.5% in September to 93.5. In retail trade sector compared to the previous month, business activity-sales over past three months sub-index increased by 5.5% to 84.1. Current volume of stock sub-index decreased by 0.3% to 107.7 and business activity-sales expectation over next three months sub-index decreased by 8.6% to 88.5.

Seasonally adjusted retail trade confidence and tendency indices, September 2020

Construction confidence index realized as 83.3

Seasonally adjusted construction confidence index which was 85.0 in previous month decreased by 2.0% in September to 83.3. In construction sector compared to the previous month, current overall order books sub-index became 69.9 by decreasing 0.1%. Total employment expectation over next three months sub-index decreased by 3.3% to 96.6.

Seasonally adjusted construction confidence and tendency indices, September 2020

In construction sector, 63.0% of the enterprises indicated at least one factor limiting their activities while 37.0% of the enterprises indicated none in September. Among the main factors limiting activities in construction sector; “financial constraints” which was 40.1% in August realized as 39.3% in September, “insufficient demand” which was 31.5% in August realized as 32.8% in September and “other factors” which was 20.3% in August realized as 17.0% in September.

The next release on this subject will be on October 26, 2020.
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EXPLANATIONS

Sectoral confidence indices can take value between 0 and 200. It indicates an optimistic outlook when the index is above 100, but it indicates a pessimistic outlook when it is below 100.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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Household consumers paid 71.2 kurus on average for 1 kWh electricity in the first period in Turkey

24.09.2020

Electricity and Natural Gas Prices, Period I: January-June, 2020 in Turkey

In the first period(1) of 2020, the average amount paid per 1 kWh electricity by industrial consumers increased by 7.1% with respect to the previous period, it increased by 21.8% compared to the same period of the previous year and became 58.6 kurus.

Household consumers paid 71.2 kurus on average for 1 kWh electricity in the first period

In the first period of 2020, the average amount paid per 1 kWh electricity by household consumers increased by 7.2% with respect to the previous period, it increased by 32.3% compared to the same period of the previous year and became 71.2 kurus.

Average electricity unit prices, Period I: January-June, 2020

Industrial consumers paid 189.0 kurus on average for 1 m3 natural gas in the first period

In the first period of 2020, the average amount paid per 1 m3 natural gas by industrial consumers increased by 1.4% with respect to the previous period, it increased by 13.2% compared to the same period of the previous year and became 189.0 kurus.

Household consumers paid 182.6 kurus on average for 1 m3 natural gas in the first period

In the first period of 2020, the average amount paid per 1 m3 natural gas by household consumers increased by 2.4% with respect to the previous period, it increased by 34.7% compared to the same period of the previous year and became 182.6 kurus.

Average natural gas unit prices, Period I: January-June, 2020

The next release on this subject will be in March 2021.
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EXPLANATIONS

Within the context of the European Union (EU) harmonization process, data on the end-user average unit price for electricity and natural gas is compiled in compliance with consumption bands specified in the relevant EU regulation through semi-annual questionnaires applied to representatives of the electricity and natural gas suppliers. The unit prices are weighted by amount of final consumption of households and industrial consumers in calculations.

(1) Period I: 1 January – 30 June,
Period II: 1 July – 31 December
(2) Consumption bands (T) are standard consumption intervals which are used in computation of electricity and natural gas prices across the European Union.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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OECD: Turkey to be 3rd Country Affected Least by Pandemic

22.09.2020

​Following China and South Korea, Turkey is set to be the 3rd least-affected country by the novel coronavirus as indicated by the “Economic Outlook, Interim Report” for September 2020 released by the Organization for Economic Co-operation and Development (OECD).

OECD has revised upwardly its contraction forecast for Turkey’s economy in 2020 up to -2.9 percent from -4.8 percent. OECD has further forecasted a 3.9 percent GDP growth rate in 2021 for the Turkish economy.
Minister of Treasury and Finance Berat Albayrak released a statement, in which he said, “Hopefully, this forecast will even be revised better thanks to our strong economy. We owe a profound debt of gratitude to all our health care workers and our laborers who would not give up on production.”
Meanwhile, OECD made an upward revision of its global contraction forecast as well, revising its projection from -6 percent in June to -4.5 percent.

Source: Investment Office of Republic of Turkey
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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Consumer confidence index in Turkey increased by 3.2% in September compared to the previous month

22.09.2020

Consumer Confidence Index, September 2020 in Turkey


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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According to the International Investment Position at the end of July 2020, external assets decreased by 8.4 % compared to the end of 2019

18.09.2020

International Investment Position Developments

July 2020 in Turkey

  • According to the International Investment Position (IIP) at the end of July 2020, external assets recorded USD 232.1 billion indicating a decrease of 8.4 percent compared to the end of 2019 and liabilities against non-residents recorded USD 611.0 billion indicating an increase of 2.2 percent.
  • The net IIP, defined as the difference between Turkey’s external assets and liabilities, posted USD -378.9 billion at the end of July 2020, in comparison to USD -344.5 billion observed at the end of 2019.
  • As regards to sub-items under assets, at the end of July 2020, reserve assets recorded USD 90.3 billion indicating a decrease of 14.6 percent, while other investment recorded USD 88.1 billion indicating a decrease of 7.3 percent compared to the end of 2019. Currency and deposits of banks, one of the sub-items of other investment, recorded USD 46.7 billion indicating a decrease of 1.7 percent compared to the end of 2019.
  • As regards to sub-items under liabilities, direct investment (equity capital and other capital) at the end of July 2020 recorded USD 201.8 billion indicating 23.3 percent increase in comparison to the end of the previous year, with the contribution of the changes in the market value and foreign exchange rates.
  • Portfolio investment decreased by 17.5 percent and recorded USD 109.8 billion compared to the end of 2019. Non-residents’ equity holdings recorded USD 23.9 billion reflecting a decrease of 26.7 percent compared to the end of 2019. Non-residents’ holdings of GDDS (Government Domestic Debt Securities) recorded USD 6.6 billion with a decrease of 57.1 percent. Outstanding eurobond holdings of nonresidents posted USD 46.8 billion with a decrease of 4.8 percent.
  • Other investment indicated a decrease of 0.5 percent to USD 299.4 billion compared to the end of 2019. FX deposits of non-residents held within the resident banks recorded USD 32.6 billion at the end of July 2020, reflecting a decrease of 6.2 percent compared to the end of 2019, and TL deposits increased by 15.0 percent recording USD 15.7 billion.
  • Total external loan stock of the banks recorded USD 63.6 billion decreasing by 6.3 percent compared to the end of 2019, and total external loan stock of the other sectors recorded USD 93.3 billion decreasing by 3.0 percent.

Source: Central Bank of the Republic of Turkey
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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Private sector’s outstanding loans received from abroad as long-term loans decreasing by USD 16.8 billion in Turkey

16.09.2020

Developments in Private Sector’s Outstanding Loans Received From Abroad

July 2020

As regards the private sector’s outstanding loans received from abroad, long-term loans recorded USD 162.2 billion as of July, decreasing by USD 16.8 billion; whereas short-term loans (excluding trade credits) realized USD 8.5 billion, decreasing by USD 199 million in comparison to the end of 2019.

From the borrower’s side, regarding long-term loans, banks’ loan liabilities decreased by USD 2.5 billion; whereas bond liabilities amounted to USD 20.6 billion, decreasing by USD 600 million in comparison to the end of 2019. In the same period, non-bank financial institutions’ loan liabilities decreased by USD 1.7 billion; whereas bond liabilities amounted to USD 2.5 billion, decreasing by USD 1.1 billion. Non-financial institutions’ loan liabilities recorded a decrease of USD 9.3 billion in comparison to the end of 2019; while bond liabilities amounted to USD 6.9 billion, decreasing by USD 684 million as of July. Regarding short-term loans, banks’ loan liabilities realized as USD 6.2 billion, increasing by USD 589 million; whereas non-financial institutions’ loan liabilities realized as USD 1.2 billion, decreasing by USD 370 million in comparison to the end of 2019.

From the creditor’s side, regarding long-term loans, liabilities to private creditors excluding bonds amounted to USD 110.7 billion, decreasing by USD 14.8 billion compared to the end of the previous year. Regarding short-term loans, liabilities to private creditors excluding bonds amounted to USD 8.3 billion decreasing by USD 206 million compared to the end of the previous year.

Regarding the currency composition, of the total long-term loans in the amount of USD 162.2 billion, 62.8 percent consists of USD, 34.0 percent consists of Euro, 2.5 percent consists of Turkish lira and 0.7 percent consists of other currencies and of the total short-term loans in the amount of USD 8.5 billion, 39.3 percent consists of USD, 43.4 percent consists of Euro, 15.1 percent consists of Turkish lira and 2.2 percent consist of other currencies.

As for the sectoral breakdown by the end of July, of the total long-term loans in the amount of USD 162.2 billion, 43.7 percent consists of liabilities of the financial institutions; whereas 56.3 percent consists of the liabilities of the non-financial institutions. In the same period, of the total short-term loans in the amount of USD 8.5 billion, 83.5 percent consists of liabilities of the financial institutions. whereas 16.5 percent consists of liabilities of the non-financial institutions.

Private sector’s total outstanding loans received from abroad based on a remaining maturity basis; point out to principal repayments in the amount of USD 41.9 billion for the next 12 months by the end of July.


Source: Central Bank of the Republic of Turkey
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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The highest net profit was in the manufacturing sector; the highest net loss was in the education sector in Turkey

16.09.2020

Company Accounts, 2019 in Turkey

Company Accounts were published again in a more comprehensively as a result of the joint work of  Turkish Statistical Institute and The Central Bank of the Republic of Turkey. In the 2019 study conducted using administrative data, the records of 730 thousand 221 enterprises that book-keeping on the basis of balance sheets were taken as basis, while in the most recent survey, the data of 8 thousand 721 enterprises was compiled through a survey conducted by the CBRT in 2016. The current scope of the Company Accounts, it consists of enterprises with a representation share of approximately 86%, when compared with the turnover value of the annual industry and service statistics published by our institution.

In this study covering the period of 2009-2019, income statement and balance sheet records compiled by the Revenue Administration, employment data provided by the Social Security Institution and credit balanches compiled from Banks Association of Turkey Risk Central  were used.

The largest number of enterprises took part in the wholesale and retail trade; repair of motor vehicles and motorcycles sector

In the distribution of the number of enterprises by sectors, wholesale and retail trade; repair of motor vehicles and motorcycles sector took the lead with 225 thousand 790.

Basic indicators by economic activities, 2019

The share of the manufacturing sector in the total number of enterprises was 15.8% for 2019

When the shares of the sub-sectors in the total number of enterprises in the manufacturing sector are examined, fabricated metal products manufacture 12.3%, food products manufacture 11.3% and clothing manufacture 9.3% respectively.

The share of non-manufacturing sectors in the total number of enterprises was 84.2% for 2019

When the shares of sub-sectors in the total number of enterprises in non-manufacturing sectors are examined, wholesale trade took the first three places with 17.8%, residential building construction with 11.4% and retail trade with 10.4%.

The largest asset size was in the manufacturing sector

According to the aggregated balance sheet of enterprises, in 2019, total asset size was 8 trillion 591 billion 115 million TL, total short and long term liabilities was 6 trillion 115 billion 484 million TL, while total stockholder’s equity was 2 trillion 475 billion 631 million TL.

Manufacturing sector was at the forefront amog all sectors with its 2 trillion 330 billion 829 million TL asset size. The second in asset size was wholesale and retail trade; repair of motor vehicles and motorcycles sector with 1 trillion 809 billion 262 million TL. In terms of stockholder’s equity, while the manufacturing sector ranks first with 792 billion 685 million TL, followed by wholesale and retail trade; repair of motor vehicles and motorcycles sector with 492 billion 819 million TL, professional, scientific and technical activities with 358 billion 650 million TL, respectively.

Balance sheet summary by economic activities, 2019

The share of the manufacturing sector in total assets in 2019 was 27.1% and its share in stockholder’s equity was 32%

When the sub-sectors of the manufacturing sector are examined, manufacture of food products with the share of 12.2% in the assets and with the share of 12.3% in the stockholder’s equity, textile products manufacture with the share of 9.9% in the assets and with the share of 10.2% in the stockholder’s equity, basic metal industry with the share of 9.4% in assets and with the share of 9.1% in stockholder’s equity took the first three places, respectively.

The share of non-manufacturing sectors in total assets was 72.9% in 2019, and their share in equity was 68%

When the sub-sectors of non-manufacturing sectors are analyzed, the share of wholesale trade sector in assets is 20.1% and its share in stockholder’s equity is 21%; the share of building construction in assets is 11.9% its share in stockholder’s equity is 8.3%; administrative center activities; administrative consultancy activities have a share of 10.4% in assets, and a share of 19.1% in stockholder’s equity; electricity, gas, steam and ventilation system production and distribution accounted for 10% of assets and 8.9% of stockholder’s equity.

Wholesale and retail trade; repair of motor vehicles and motorcycles sector had the highest net sales revenue

According to the aggregated income statement data of enterprises, total gross sales in 2019 was 8 trillion 164 billion 86 million TL, and net sales was 7 trillion 778 billion 637 million TL. In exports, manufacturing sector ranked first with 722 billion 552 million TL. Wholesale and retail trade; repair of motor vehicles and motorcycles sector had the highest revenue in net sales revenue with 3 trillion 289 billion 212 million TL.

The highest net profit was in the manufacturing sector; the highest net loss was in the education sector

According to the aggregated income statement data of the enterprises, the aggregated financial year net profit of the total sectors in 2019 was 249 billion 333 million TL. Manufacturing sector was the sector with the highest net profit with 118 billion 249 million TL. While wholesale and retail trade; repair of motor vehicles and motorcycles sector with 42 billion 95 million TL, professional, scientific and technical activities sector with 21 billion 10 million TL were the other sectors producing net profit. The education sector completed the year 2019 with a net loss of 1 billion 402 million TL, while the real estate sector completed with a net loss of 1 billion 240 million TL.

Income statement summary by economic activities, 2019

The share of the manufacturing sector in the total net profit of the period was 47.4% for 2019

When the shares of the sub-sectors in the total net profit of the manufacturing sector are examined, the manufacture of food products with 1.6%, the manufacture of chemicals and chemical products with 9.7% and the base metal industry with 8.5% took the first three places, respectively.

Wholesale and retail trade; The share of the repair of motor vehicles and motorcycles sector in net profit for the period was 16.9% for 2019

Wholesale and retail trade; When the shares of sub-sectors in the repair of motor vehicles and motorcycles sector in the net profit of the period are analyzed, the wholesale trade was 77.1%, retail trade was 16.5%, and the wholesale and retail trade of motor vehicles and motorcycles was 6.4%.

The share of the construction industry in net profit for the period was 7.3% for 2019

Considering the shares of sub-sectors in the net profit of the period in the construction sector, the construction of non-building structures was 60.9%, building construction 27.1% and private construction activities 6.4%.

When foreign sales are examined in sub-sectors, wholesale trade took the first place with 31.1% in 2019

After wholesale trade, manufacturing of motor vehicles, trailers (trailers) and semi-trailers (semi-trailers) was 8.7%, basic metal industry 6% and air transport 5.9%.

When the sub-sectors in domestic sales are analyzed, in 2019, wholesale trade ranked first with 26.7%

After wholesale trade, retail trade was 8.8%, electricity, gas, steam and ventilation system production distribution was 4.9% and food production was 4.1%, respectively.

Companies operating profit and net profit for the financial year increases in 2019

Net profit for the financial year of all companies within our scope was 249 billion 333 million TL, and total operating profit was 442 billion 997 million TL.

Net sales, operating profit, period net profit by years (billion TL), 2009-2019

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EXPLANATIONS

You can be accessed the tables prepared by The Central Bank of Republic of Turkey for Company Accounts, 2019 from the link http://www3.tcmb.gov.tr/sektor/2020/#/en


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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Turkey maintained the upward trend in industrial production, retail sales and total turnover indices in 2020 July

15.09.2020

Turkey’s Economy on a Steady Path, Show Industry Figures of July

​Freeing itself from the devastating impacts of the COVID-19 outbreak, Turkey maintained the upward trend in industrial production, retail sales and total turnover indices in 2020 July.
Turkey’s industrial production index in July 2020 posted a 4.4 percent increase year-on-year, said Turkish Statistical Institute (TurkStat). From a sector-based perspective, manufacturing index took the lead with a 5.1 percent increase, while electricity, gas, steam and air conditioning supply indices rose by 1.4 percent in July.
Also, in comparison with the same month of 2019, retail sales volume boosted by 11.9 percent in July 2020. Sales of food, drinks and tobacco was on a rise of 12.3 percent, whereas non-food sales increased by 13.9 percent.
Meanwhile, Turkey’s total turnover index, including industry, construction, trade and services sectors, annually jumped by 20.2 percent in the same month. While the increase posted by the industry sector was 20.2 percent, construction and trade sectors completed the month with a rise of 14.9 percent and 32.9 percent y-o-y.

Source: Investment Office of Republic of Turkey
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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House sales in Turkey increased by 54.2% in August 2020 compared to the same month of the previous year

15.09.2020

House Sales Statistics, August 2020

In Turkey, house sales increased by 54.2% in August 2020 compared to the same month of the previous year and hence, became 170 thousand 408. For the house sales of August 2020, İstanbul had the highest share of house sales with 17.8% and 30 thousand 292 sold house. The followers of İstanbul were Ankara with 17 thousand 131 house sales and İzmir 11 thousand 145 house sales with the share of 10.1% and 6.5% respectively. The least house sold provinces were Hakkari with 13 house sales, Ardahan with 22 house sales and Şırnak with 99 house sales.

Number of house sales, August 2020

Number of house sales, August 2020

In August 2020, 76 thousand 19 ownership of the houses changed by mortgage sales

The mortgaged house sales throughout Turkey became 76 thousand 19 by increasing 122.6% compared to the same month of the previous year. House sales with mortgage had a 44.6% share of all house sales in Turkey. İstanbul has the highest mortgage house sales in Turkey with 15 thousand 367 sales and with the share of 20.2%. The least other house sales was realized in Hakkari with 2 house sales.

Ownership of 94 thousand 389 houses changed by other sales

Other house sales in Turkey became 94 thousand 389 by increasing 23.6% compared to the same month of the previous year. In the other sales, İstanbul was the first province with 14 thousand 925 sales and 15.8% share. Other house sales had 49.3% share of all house sales in İstanbul. Ankara was the second province with 8 thousand 10 sales. Ankara was followed by İzmir with 5 thousand 518 sales. The least other house sales was realized in Hakkari with 11 house sales.

House sales by type of sales, August 2020

In house sales, 52 thousand 123 of houses were sold for the first time

First house sales in Turkey became 52 thousand 123 by increasing 28.3% compared to the same month of the previous year. First house sales had 30.6% share of all house sales in Turkey. The most first house sales was in İstanbul with 8 thousand 103 sales. İstanbul was the first province in Turkey ranking that had most first house sales share with 15.5%. The followers of İstanbul were Ankara with 3 thousand 891 house sales and İzmir with 3 thousand 193 house sales.

Ownership of 118 thousand 285 houses changed by second hand sales

Second hand house sales in Turkey became 118 thousand 285 by increasing 69.2% compared to the same month of the previous year. In the second hand sales, İstanbul was the first province with 22 thousand 189 sales and 18.8% share. Share of the second hand sales was 73.3% in İstanbul in total house sales. Ankara was the second province with 13 thousand 240 sales and Ankara was followed by İzmir with 7 thousand 952 sales.

House sales by state of sales, August 2020

House sales by type of sales, August 2019-2020               House sales by state of sales, August 2019-2020

Houses sales increased by 42.6% in January-August period

In the January-August period, a million 24 thousand 534 houses were sold and increased by 42.6% compared to the same period of the previous year. In the January-August period, sales of mortgaged houses was 473 thousand 114 and increased by 263.7%, and in other types of sales, it was 551 thousand 420 and decreased by 6.3%. Houses sold for the first time in this period was 317 thousand 832 increasing by 11.2%. Second-hand house sales was 706 thousand 702 and also increased by 63.3%.

In August 2020, 3 thousand 893 houses were sold to foreigners

In house sales to foreigners became 3 thousand 893 by increasing 8.0% compared to the same month of the previous year. İstanbul was the first province with a thousand 648 sales in August 2020. The followers of İstanbul were Antalya with 784 house sales, Ankara with 288 house sales, Mersin with 148 house sales and Yalova with 133 house sales.

House sales to foreigners, August 2020

In January-August period, house sales to foreigners became 20 thousand 896 by decreasing 24.7% compared to the same period of the previous year.

Most house sales were made to Iran citizens according to country nationalities

In August, Iran citizens bought 640 houses from Turkey. The followers of Iran were Iraq with 592 house sales, Russia with 366 house sales, Afghanistan with 156 house sales and Azerbaijan with 154 house sales.

   House sales by nationalities in country detail for top 20, August 2020

The next release on this subject will be on October 15, 2020.


Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.


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Expenditures on housing and rent, food and non-alcoholic beverages and transportation had the largest part of household consumption expenditures in Turkey

15.09.2020

Household Consumption Expenditures (Regional), 2019 in Turkey

According to the results acquired from combined data set of 2017, 2018 and 2019 Household Budget Surveys; expenditures on housing and rent, food and non-alcoholic beverages and transportation had the largest part of household consumption expenditures. TR1 (İstanbul) region had the highest share in expenditures on housing and rent with 28.6% where TRA (North-East Anatolia) region had the lowest share with 20.2%.

TRB (Central-East Anatolia) SR Level 1 region allocated the highest share to food

TRB (Central-East Anatolia) region had the highest share in expenditures on food and non-alcoholic beverages with 28.5% where TR1 (İstanbul) region had the lowest share with 15.9%.

TR8 (West Black Sea) SR Level 1 region allocated the highest share to transportation

TR8 (West Black Sea) region had the highest share with 20.1% and TRC (South-East Anatolia) region had the lowest share with 15.3% for transportation.

The share of education was the highest in TR1 (İstanbul) SR Level 1 region

Where TR1 (İstanbul) region had the highest share with 3.7%, TR9 (East Black Sea) region had the lowest share with 0.9% for education.

TR2 (West Marmara) region had the highest share which was 2.7%, TRB (Central-East Anatolia) region had the lowest share which was 1.2% in health expenditures.

Distribution of household consumption expenditures by types of expenditure (%), SR Level 1, 2019

One fourth of household consumption expenditures were in TR1 (İstanbul) SR Level 1 region

TR1 (İstanbul) region had 24.4% of the household consumption expenditures in Turkey. While TR3 (Aegean) was the second with 15.1%, TR6 (Mediterranean) region followed TR3 (Aegean) with 11.4%.

While TR1 (İstanbul) region had the highest share in all expenditure groups, 38.6% of education expenditures, 28.9% of restaurant and hotels expenditures, 28.6% of housing and rent and entertainment and culture expenditures were realized in TR1 (İstanbul) region.

TR3 (Aegean) region, which ranks second with its share of household consumption expenditures, made 17.3% of alcoholic beverages, cigarette and tobacco expenditures, 16.0% of restaurant and hotels expenditures and 15.8% of health expenditures.

The lowest share of consumption expenditures belonged to TRA (North-East Anatolia) SR Level 1 region

TRA (North-East Anatolia) had the lowest share in household consumption expenditures with the rate of 1.8%. TRB (Central-East Anatolia) followed this region with 2.6% and TR9 (East Black Sea) with 2.9%.

TRA (North-East Anatolia) region’s share of alcoholic beverages, cigarette and tobacco expenditures was 2.5%, 2.2% from the food and non-alcoholic beverages group and 2.1% from the clothing and footwear group.

TRB (Central-East Anatolia) region’s share of expenditures on food and non-alcoholic beverages was 3.7%, while it was 3.5% from clothing and footwear and 2.9% from communication.

Distribution of household consumption expenditures (%), SR Level 1, 2019

Distribution of household consumption expenditures (%), SR Level 2, 2019

TR1 (İstanbul) SR Level 2 region had the highest share in consumption expenditures

TR1 (İstanbul) region had 24.4% of the household consumption expenditures in Turkey. While TR51 (Ankara) took second place with 7.6%; TR31 (İzmir) and TR41 (Bursa, Eskişehir, Bilecik) followed this region with 6.5% and 5.6% respectively.

TRA2 (Ağrı, Kars, Iğdır, Ardahan) and TR82 (Kastamonu, Çankırı, Sinop) regions had the lowest share in household consumption expenditures with 0.8%. These regions were followed by TRB2 (Van, Muş, Bitlis, Hakkari) and TRA1 (Erzurum, Erzincan, Bayburt) with 1.0% and TRC3 (Mardin, Batman, Şırnak, Siirt) and TR81 (Zonguldak, Karabük, Bartın) with 1.3%.

TRB2 (Van, Muş, Bitlis, Hakkari) SR Level 2 region allocated the highest share to food

While TRB2 (Van, Muş, Bitlis, Hakkari) region allocated the highest share to food and non-alcoholic beverages with 34.4%, housing and rent and transportation expenditures followed with 21.8% and 10.5% respectively.

While TRB2 (Van, Muş, Bitlis, Hakkari) region allocated the lowest share to education with 0.6%, health and entertainment and culture expenditures followed with 1.1% and 1.7% respectively.

TR82 (Kastamonu, Çankırı, Sinop) SR Level 2 region allocated the highest share to transportation

TR82 (Kastamonu, Çankırı, Sinop) was the region that allocated the highest share to transportation expenditures with 22.7%. This region followed by TR21 (Tekirdağ, Edirne, Kırklareli) with 21.2%, TR42 (Kocaeli, Sakarya, Düzce, Bolu, Yalova) and TR81 (Zonguldak, Karabük, Bartın) with 20.4%.

The next release on this subject will be on September, 2021.


Source: TurkStat
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