|
|
Turkey Retail Report Q2 2009Published by: Business Monitor International Published: May. 14, 2009 - 47 Pages Table of Contents
AbstractThe new BMI Turkey Retail report predicts that the country’s retail sales will grow from around US$222bn in 2007 to US$447bn by 2013. Underlying economic growth, an expanding population (especially in urban areas), rising levels of disposable income and the continued development of organised retail infrastructure are key factors behind the forecast growth in Turkish retail sales.Turkey’s nominal Gross Domestic Product (GDP) was US$620.8bn in 2007. Average annual GDP growth of 2.9% is predicted by BMI to 2013. With the population increasing from 70.6mn in 2007 to an estimated 75.6mn by 2013, GDP per capita is forecast to rise by 83% by the end of the forecast period, reaching US$16,092. Our assumption of consumer spending per capita is for an increase from US$3,092 in 2007 to US$7,277 by 2013. Salaries in Turkey remain low, with BMI estimating the 2007 average annual wage at US$5,848. However, Turkey has a large, growing and young population. Each year some 750,000 young people join the workforce and, with an increasing level of urbanisation, many are abandoning the agricultural sector in order to seek better-paid jobs in other areas. Nevertheless, unemployment is a problem, standing at 10.6% in 2007 and potentially peaking at 14.0% in 2010. In 2005, 65.8% of the Turkish population was described by the UN as active, with 41.0% in the critical 20-44 age range. Just over two-thirds of the population was classified by the UN as urban (67.3%). By 2015, the urban population is forecast to have reached almost 72%, with 43.8% in the 20-44 age band. At this point, 69.1% of the population is expected to be active. BMI has calculated that organised retail accounted for an estimated US$81.9bn of overall sales in 2007, rising to a forecast US$220.2bn by 2013. This represents an annual average growth rate of 18.0%, compared with the predicted 12.9% (in dollar terms) annual growth rate for overall retail sales. Retail sales for BMI’s universe of Central and Eastern European (CEE) countries in 2007 amounted to an estimated US$1,021bn, based on the varying national definitions. Total consumer spending for the region, based on BMI’s macroeconomic database, amounts to US$1.48bn. Russia, Turkey and Poland together in 2007 accounted for an estimated 82% of regional retail sales, with their combined share expected to reach almost 83% by 2013. For Turkey, the estimated 2007 market share of 21.7% is expected to rise to 25.4% by 2013. Get Full Details About This Report >> |
|
|||
|
About MarketResearch.com
|
||||