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ISTANBUL GUIDE - Economy of Istanbul

 Istanbul > About Istanbul > Istanbul in brief > Economy of Istanbul
 

 

  As well as being a capital to three empires, Istanbul is one of the very few cities which is able to maintain its quality of being an economical center. Indeed, although not serving as capital to the new republic declared in 1923, it kept its economically central position and never lost this power to determine the fate of the country.
The population of Istanbul, which was 1 million 78 thousand people in 1945, increased to 1 million and 533 thousand with the growth after 1950 and in the following periods, became 7 million 309 thousand in 1990 with an annual increase of 40-50 per thousand, and 9 million 199 thousand in 1997, and became a city with over 10 million people according to the census in 2000. If we briefly look at the economy and business life of the city, the share of Istanbul in the Turkey’s gross national product is 23 percent. Annual contribution of Istanbul to state budget is 40 percent, but in return the share it receives from the state expenditures is around 7-8 percent. The headquarters of all private banks and 21 percent of total bank branches in Turkey are located in Istanbul.

 

Export and import gate

Istanbul has a central importance in both domestic and international trade. The added value created in Istanbul, reaches 26.5 percent of provincial total added value and trade is the second most important sector in Istanbul after industry. In Turkey, 27 percent of the general added value created in commercial sector is created by Istanbul.
Istanbul is at the same time the most important export and import gate of Turkey. The export of Istanbul makes up 46 percent of Turkey total and the import of Istanbul makes up 40 percent of Turkey total. Istanbul has at hand a great chance thanks to its being center of tourism and a congress. One-fourth of the hotel capacity is owned by five star hotels and almost one-fifth is owned by four star hotels.
Istanbul is also the center of country’s air transport. Along with Atatürk Airport, Pendik Sabiha Gökçen airport on the Anatolian side is serving Istanbul…
14 out of 153 museums in Turkey is located in Istanbul and 34 percent of the 2 million 400 thousand pieces on display is being exhibited in Istanbul…

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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