Changes

*Trade: Exports (merchandise)--(2005) $73.1 billion; (2006) $83.5 billion: textiles and apparel, industrial machinery, iron and steel, electronics, petroleum products, and motor vehicles. Imports (merchandise)--(2005) $116 billion; (2006) 135.5 billion: petroleum, machinery, motor vehicles, electronics, iron and steel, plastics precious metals. Major partners—Germany, U.S., Italy, France, Russia, Italy, Japan, Netherlands, U.K.  

*Trade: Exports (merchandise)--(2005) $73.1 billion; (2006) $83.5 billion: textiles and apparel, industrial machinery, iron and steel, electronics, petroleum products, and motor vehicles. Imports (merchandise)--(2005) $116 billion; (2006) 135.5 billion: petroleum, machinery, motor vehicles, electronics, iron and steel, plastics precious metals. Major partners—Germany, U.S., Italy, France, Russia, Italy, Japan, Netherlands, U.K.  

====European Union accession====

====Failed European Union accession====

Turkey's principal ongoing economic challenge is providing for the needs of a fast-growing, young population. Raising living standards to those prevalent in Europe will require high rates of GDP growth sustained over many years. This will entail continued structural reforms that encourage both domestic and foreign investment. Principal areas for reform identified by international financial intuitions include increasing flexibility in the labor market, making the educational sector more responsive to the needs of the economy and ensuring faster and more predictable operation of the judicial system. As an aspirant to membership in the European Union, Turkey aims to adopt the EU's basic system of national law and regulation (the acquis communautaire) by 2014. While implementing some elements of the acquis will be costly and difficult (for example in the areas of environmental protection and agriculture), its adoption will make a significant contribution to modernizing the economy.  

Turkey's principal ongoing economic challenge is providing for the needs of a fast-growing, young population. Raising living standards to those prevalent in Europe will require high rates of GDP growth sustained over many years. This would entail structural reforms that encourage both domestic and foreign investment. Principal areas for reform identified by Western financial intuitions include increasing flexibility in the labor market, making the educational sector more responsive to the needs of the economy and ensuring faster and more predictable operation of the judicial system.  

 

As a former aspirant to membership in the European Union, Turkey aimed to adopt the EU's basic system of national law and regulation (the acquis communautaire) by 2014. However, Obama administration weapons and support for Kurdish terrorists, and racist Western attitudes toward Turks, pretty well scuttled Turkey's desire to join the EU.<!--While implementing some elements of the acquis will be costly and difficult (for example in the areas of environmental protection and agriculture), its adoption will make a significant contribution to modernizing the economy.-->

====Energy====

====Energy====