Istanbul Stock Exchange
Turkey enjoys a somewhat traditional economy with a large agricultural sector which currently accounts for roughly 30% of the country’s employment. However, the private sector has been growing at an astounding rate and currently agriculture only accounts for 11.7% of the country’s GDP while industry accounts for 29.8% and services account for a massive 58.5%. Much of basic industry in Turkey, such as banking, transport and communications, is state run so the state still plays a major role in basic industry. The trend towards increasing private sector growth is clearly reflected on the ISE where things such as real estate certificates, bonds and equities are more frequently traded than most other items. Turkey is currently enjoying a roughly 5% GDP growth rate, though an estimated 20% of the country’s population still live below the poverty line.
Turkey’s main industries are steel, petroleum, construction, paper, wood, textiles, processed foods, cars, electronics and a variety of mining activities. The country currently exports more than 80 billion dollars worth of clothing, foodstuffs, textiles, metal and transport equipment annually. Its main export partners are Germany, Italy and the US, although it also does some business with France and Spain. Turkey also imports chemicals, fuel, transport equipment, semi-finished goods and machinery. Five examples of companies currently trading on the ISE are Alarko Holding, Brisa, Desa Deri, Deva Holding and Escort, though the stock exchange is home to 320 national companies. The ISE is open on all workdays between 9:30-12:00 and 14:00-16:30.