Latest News from Turkey
Multiple Labor Strikes and Protests Across Turkey Conclude Successfully
Workers at Smart Solar in Gebze ended their strike on February 12 with wage improvements and reinstatements after starting October 22. Strikes continue in Tokat by Şık Makas workers demanding wage payments, and in Trabzon at ŞOK Market warehouse where 30 workers were dismissed.
Protests occurred in Van over wages, Kocaeli for justice in worker massacre, and Istanbul against health payment regulations.
IMF Praises Turkey's Economic Program with 4.2% Growth Forecast for 2026
The IMF endorses Turkey's disinflation efforts, tight monetary policy, and fiscal consolidation, projecting 4.2% growth while urging structural reforms. Growth remains resilient amid global challenges.
This follows positive economic indicators in recent months.
Turkish Flour Industry Targets 3 Million Tons Exports in 2026
Türkiye's flour sector aims for over 25% of global exports, up from 2.34 million tons in 2025, leveraging growth in Syria and strong branding against rivals like Egypt. TUSAF Chair Mesut Çakmak highlighted competitive advantages.
Exports face global headwinds but show rapid expansion.
Turkey Achieves Record $65.2B Tourism Revenue in 2025
Türkiye welcomed 64 million visitors in 2025, ranking fourth globally despite regional instability, with leaders targeting year-round growth. This marks the highest-ever tourism figures.
Sector emphasizes event-driven strategies for further expansion.
Erdoğan Chairs First 2026 Defense Industry Meeting, Sets Export Targets
President Erdoğan reviewed 2025 achievements, export performance, and critical projects at the Presidential Complex. The committee committed to domestic technologies and resolved agenda items for defense needs.
Emphasis placed on sustaining progress with national resolve.
Turkey Signs Energy Deal with Chevron for Global Exploration
Turkish National Petroleum Company inked a memorandum with Chevron for joint oil and gas drilling worldwide. This builds on Black Sea discoveries like Sakarya field, aiming to enhance energy security and trade balance.
Turkey seeks to become a key transit hub leveraging its geography.
Zelensky Seeks Stronger Ties with Turkey to Bolster Ukraine Support
Ukrainian President Zelensky instructed Security Council Secretary Umerov on February 21 to intensify engagement with Middle East and Turkey against Russian aggression. Plans include meetings with European partners next week.
Coordination aims to increase support for Ukraine.
Russia Expresses Interest in Deeper Economic Ties with Turkey
Russian Deputy PM Alexander Novak met Turkish Trade Minister Omer Bolat to discuss economic cooperation prospects. Focus on strengthening mutually beneficial relations.
Meeting underscores ongoing bilateral trade interests.
Turkey Rolls Out Second Prototype of KAAN Fighter Jet
Turkey unveiled a second high-tech KAAN fighter prototype on February 21, positioning it as a potential F-35 rival and pressuring US relations. This advances domestic aviation capabilities.
Development highlights Turkey's defense self-reliance.
Industrial Production Declines Sharply in Latest Data
Turkey's Industrial Production YoY fell to -2.1% from 2.2%, with MoM at 1.2% below expectations. Auto Production YoY dropped -2.0%.
These figures indicate manufacturing challenges.
Turkey Expands Investments in Ethiopia's Horn of Africa
Turkish investments in Ethiopia surpassed $2.5 billion in 2025, focusing on textiles, railways, and energy, boosting bilateral trade. This reflects growing soft and hard power projection.
Investments support regional infrastructure.
Upcoming GDP Data Shows 3.7% YoY Growth and 7.7% Unemployment
Preliminary figures for late February indicate GDP Growth YoY at 3.7%, Unemployment Rate at 7.7%, and Economic Confidence Index at 99.4. Trade deficit widened with Exports at $26.4B and Imports $35.7B.
Participation Rate slightly down to 53.2%.