|Budget: Income .............. $138.8 Billion
Expenditure ... $172.5Billion
Main Crops: Tobacco, cotton, grain, olives, sugar beets, pulse, citrus; livestock .
Natural Resources: Antimony, coal, chromium, mercury, copper, borate, sulfur, iron ore.
Major Industries: Textiles, food processing, autos, mining (coal, chromite, copper, boron), steel, petroleum, construction, lumber, paper
Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for about 30% of employment. It has a strong and rapidly growing private sector, and while the state remains a major participant in basic industry, banking, transport, and communication, this role has been diminishing as Turkey's privatization program continues. The largest industrial sector is textiles and clothing, which accounts for one-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. However, other sectors, notably the automotive and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Real GDP growth has exceeded 6% in many years, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, and 2001.