Strong Economy

İzmir is one of the most developed cities in the country's main economic indicators. While İzmir is having a significant industrial base by realizing 9.3% of Turkey’s total industrial production, the region also comes the second in Turkey as a commercial centre. Therefore the region’s workforce constitutes 6% of the total employment of Turkey.

Gross Domestic Product (GDP)

The Gross Domestic Product (GDP) in İzmir was worth 263 billion 38 million TL in 2019, according to official data from TURKSTAT (Turkish Statistical Institute). According to the data of the years between 2009-2019, the GDP value of İzmir represents 6.1 percent of the Turkish economy.

– Steadily growing GDP over the last decade

– Representing %6,1 GDP share of Turkey since 2009

– Consistently increasing GDP Per Capita over the last decade

GDP per Capita above Turkey average

The Second Largest Commercial Center of Turkey

İzmir is taking share of 4.1% within total imports and 6.1% within total exports in Turkey, thanks to having more than 4500 export companies and $17.1 billion foreign trade volume.

 

– Has a wide range of products including textiles, agriculture, chemicals,  machinery and equipment.

 

– Imports mainly from Germany, China, Russia, USA and Italy; exports mainly to Germany, England, USA, Spain and Italy as of 2015

Source: TURKSTAT

Source: TURKSTAT

Source: TURKSTAT

Source: TURKSTAT

Foreign Trade

İzmir has high export values over the years, having more than $12B export volume annually in 2018 and 2019. According to the data in the years between 2013 and 2019, İzmir exports more than it imports having a positive balance.

– Over $12B Export volume in the last 2 years

– Average of $10.93B Export volume in the last 7 years

– Representing %6,64 of Turkey’s total exports in the last 7 years

– Foreign Trade Surplus in the last 2 years

– 107% Export-Import Ratio in the last 7 years

Cost Effectiveness

 

İzmir ranks 8th in both TOP 10 Large European Regions of the Future 2020/21 and TOP 10 World Tier 2 Cities 2020/21 listing.

TOP 10 Large European

Regions of the Future

2020/21 – Cost Effectiveness

Rank Region Country
1 Southern Federal District Russia
2 Volga Federal District Russia
3 Ural Federal District Russia
4 Siberian Federal District Russia
5 North-western Fed. District Russia
6 Silesia Poland
7 Far Eastern Federal District Russia
8 İzmir Turkey
9 Masovian Voivodeship Poland
10 Ankara Turkey

TOP 10 World

Tier 2 Cities

2020/21 – Cost Effectiveness

Rank Region Country
1 Southern Federal District Russia
2 Volga Federal District Russia
3 Ural Federal District Russia
4 Siberian Federal District Russia
5 North-western Fed. District Russia
6 Silesia Poland
7 Far Eastern Federal District Russia
8 İzmir Turkey
9 Masovian Voivodeship Poland
10 Ankara Turkey

An Attraction Center for Investors

strong-economy-image-01

2ND FASTEST GROWING METROPOL IN THE WORLD

Brookings Institution

strong-economy-image-02

9.3% OF THE INDUSTRIAL PRODUCTION IN TURKEY

strong-economy-image-03

2ND ATTRACTIVE CITY FOR THE INVESTORS IN TURKEY

EY