Turkey’s Economy Slows Down: Will this Affect Spain’s Burgeoning Trade and Investment?

Analysis of the Real Instituto Elcano (ARI) 2/2013, 16/1/2013
Real Instituto Elcano de Estudios Internacionales y Estratégicos (Spain)

William Chislett *

Like Spain, the Turkish economy became overheated and growth is still high by EU standards. Spanish exports have risen by more than 30% over the last five years, making Turkey the second-largest non-EU market after the US, and in 2011 Turkey was the main destination of Spain’s direct investment abroad. Per capita income trebled in dollar terms in the last decade, enhancing the attractiveness of a huge market whose infrastructure needs are high.

* Associate researcher at the Elcano Royal Institute and author of six Working Papers on Turkey.

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