Istanbul is a city of 15m that lies at the heart of one of the world’s fastest-growing economies. Figures released in April showed that Turkey’s GDP rose by 8.5% in 2011 after a 9% increase in 2010. Turkey’s role as a trading post between east and west has once again become an important asset. Today Germany is Turkey’s main trading partner but Iraq, Iran, Egypt, Saudi Arabia and the United Arab Emirates are as important as a block. This entails significant opportunities.
However there is risk on the opposite spectrum. Turkey’s rapid recent growth comes with side-effects that have left its economy and its businesses vulnerable. One concern is inflation, which was 10.4% in March, well above the central bank’s target and the inflation rates of most of Turkey’s emerging-market peers. A bigger concern is Turkey’s growing dependence on foreign capital to fuel its economy: its current-account deficit averaged 10% of GDP last year. Turkey’s deficit measured in dollars is second only to America’s (Source: Economist).
Responding to the increased opportunities and risk D&B Turkey (Finar) recently has announced the introduction of four new products:
- D&B Turkey Credit Risk Map – Helping customers measure the pulse of the Turkish business community
- Annual Report – We employ creativity to create effective reports
- Tender Management Solutions – D&B Turkey’s “Tender Management Solutions” help companies confidently manage their tender process and effectively choose the right candidates among all bidders.
- Supplier Evaluation Report – Enabling Confident Procurement Decisions
To read the full story click on the attachment: DB_New Products_BIIA_June2012