Armenian, Assyrian and Hellenic Genocide News

American Share in Turkish Economy
by Güncelleme: 17:58 TS 25 Eyl., 2000
Posted: Tuesday, October 03, 2000 06:38 am CST

Government figures show growing presence of American capital investment in Turkey

September 25 — There are currently 318 American firms with investment in Turkey totalling $228 million. A total of 7.8% of Turkey’s imports arrive from the United States, with 11.2% of Turkey’s total exports bound for the U.S.

The total amount of American investment in Turkey as of the end of June 2000 was recorded at $3.041 billion of the total $26.754 billion. This means the U.S. ranks third in total investment in the country, following France with $5.3 billion and Germany with $3.5 billion.

The U.S. accounted for $30.6 million of the total of $1.2 billion of foreign capital allowed to enter the country in the first six months of this year, according to figures provided by the Foreign Capital General Directorate of the Treasury Undersecretariat.

Additionally, these figures showed that 318 of the 5,129 foreign firms currently investing in Turkey are American.

The total capital of U.S.-Turkish joint ventures reached $398 million from the end of June, with $228 million of that amount, or 57.36%, American. U.S. firms account for 12.87% of all foreign capital investments in Turkey.

FOREIGN TRADE

Trading figures with the U.S. have also reached impressive levels, with the U.S. ranking as Turkey’s second highest trading partner as of the end of June.

Figures released by the General Directorate show that $1.489 billion, or 11.2% of Turkey’s total exports of $13.353 billion, were bound for the U.S. during the first half of the year. There was a 26.44% rise in exports bound for the U.S. in comparison to the same period last year. Last year, exports bound for the U.S. reached $1.177 billion, or 9.2% of total exports.

Imports, meanwhile, from the U.S., accounting for 7.8% of the total of $25.024 billion in imports during the first six months of the year, reached $1.962 billion. This is a 40.22% rise over last year’s figures for the same interim, when imports from the U.S. had accounted for 7.6% of the total.

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