Turkey's 2nd quarter tourism revenue totals $5B

Turkey's revenues from tourism fell to $5 billion in the second quarter of the year, official figures showed on Friday.

Revenues fell 35.6 percent from the same period in the previous year, according to the Turkish Statistical Institute (TurkStat).

Turkey welcomed nearly 7.5 million foreign visitors in the second quarter of this year, a drop from 10.7 million in the same quarter in 2015. Nearly 42 million tourists visited the country last year.

The country’s first half-year total revenue from tourism was $9.04 billion, down from $12.6 billion a year earlier.

The second quarter has traditionally been the low season for tourism, as the winter months attract a smaller number of tourists who visit to the country's world-famous resorts and historic monuments.

Income from tourism is a valuable source of foreign currency for the country, constituting nearly 4 percent of national income last year with $31.5 billion.

TurkStat also said that over 2 million of the visitors to the country in the quarter were Turkish citizens resident abroad.

"While 77.1 percent of this income (excluding GSM roaming and marina service expenditures) was obtained from foreign visitors, 22.9 percent was obtained from citizens resident abroad,” TurkStat said.

According to the institute, the average amount spent by foreign tourists was $602 this year in the second quarter, when resort prices are low due to low winter demand. Turks living abroad spent $973 on average.

According to TurkStat, the number of Turkish citizens traveling abroad in the quarter fell by 17.3 percent over the last year and reached 2.03 million. Their average expenditure was $742 per capita for the quarter.

Nearly 41.6 million tourists came to Turkey last year, while the country received 41.4 million tourists in 2014. Just over half of the foreign visitors came from Europe, or 18.7 million of the total of 34.9 million.

Source : http://www.portturkey.com/finance/14958-turkeys-2nd-quarter-tourism-revenue-totals-5b

Turkey opens its first underwater museum

Turkey’s first underwater museum has opened in the town of Side in Antalya. The Side Underwater Museum, which was constructed by the chamber of Maritime Trade Antalya Branch (IMEAK), officially opened over the weekend in Antalya’s Manavgat district with 110 sculptures.

IMRAK Chairman İnanç Kendiroğlu said the sculptures that featured the richness of Anatolian civilization had been finished in just nine months and placed underwater in Side.  The museum is the first and only one of its kind in Turkey and Europe, Kendiroğlu said, adding that they were planning to improve diving tourism and open underwater museums in Kemer, Alanya and the Antalya provincial center in the coming years.

Kendiroğlu said the sculptures had been designed to avoiding damaging the natural environment underwater. He said the area of the underwater museum was closed to sea traffic, adding that everyone holding a certificate could dive there for free.

The owner of Side Silver Diving School, Ahmet Gülaydın, said diving tourism had increased by 30 percent in Side after the opening of his school, adding that they had first promoted the museum in Germany, the Netherlands and Belgium. Diving tourists mostly choose Mexico, Egypt, NewZealand, India and Turkey, he added.

The museum aims to demonstrate the interaction between art and environmental science and form a complex reef structure for marine life to colonize, inhabit and increase biomass on a grand scale.

Under several historical and cultural themes ranging from the “Turkish War of Independence” to “Whirling Dervishes,” “Camel Trains” and “Flower Gardens,” 110 sculptures are now on display under the Mediterranean waters. The sculptures were constructed from specialized materials used to foster coral life.

The sculptures were lowered into place at three different depth zones that will be accessible to all divers, whether amateur, semi-professional or professional.

Source: hurriyetdailynews

Turky Manufacturing Sector Declines

The Turky manufacturing sector extended its downturn for the fourth consecutive month in April, hovering near a six-year low as exports and new orders continued to fall. Output, new orders and new export business all fell for the fourth successive month with the latter posting a faster rate of decline. Manufacturers input stocks declined as purchasing fell, but inventories of finished goods built up, read a statement by HSBC Turkey Manufacturing PMI.

The PMI remained below the no-change mark for the fourth successive month in April, indicating an ongoing downturn in the Turkish goods-producing sector. The PMI rose from March’s 71-month low of 48.0 to 48.5, but the latest figure was still the joint-second lowest since April 2009. Three of the PMI’s five components weighed on the headline figure during the month, the exceptions being employment and suppliers delivery times.

The rate of contraction eased slightly since March, but remained solid. New export contracts fell at the fastest rate in six years, despite the weakening lira-dollar exchange rate. Trevor Balchin, Senior Economist at Markit stated that the latest PMI data signal an entrenched downturn in the Turkish manufacturing sector with output, new orders and exports all falling for the fourth consecutive month. The latter showed the steepest drop in six years, despite the weak lira-dollar exchange rate.

Turkish goods producers face the unenviable combination of falling demand and rising inflation, with average input prices increasing at the fastest rate since March 2014. The weak currency was again widely blamed for the latest build-up of inflationary pressure, he said. The strong U.S. dollar was again cited as the main factor driving up average input prices, which increased at the fastest rate since March 2014, read the statement. In contrast, manufacturing output prices rose at a weaker rate as firms reported competitive pressures. On a more positive note, employment growth resumed, albeit at a modest pace.

In line with the trend had shown for new work, production declined for the fourth month running in April, while the rate of contraction was unchanged from March’s near-six-year record. Survey data also signaled a lack of pressure on operating capacity, as backlogs of work declined for the 13th time in 14 months, read the statement.

Stocks of purchases held by Turkish manufacturers declined in April, reflecting a drop in input volumes. Conversely, stocks of finished goods rose for the third month running, the longest sequence of growth in more than three-and-a-half years.

Source: hurriyetdailynews

Gazprom set to launch Turkish Stream pipeline on Dec 2016

The Turkish Stream pipeline will become operational in December 2016, said head of Gazprom Aleksey Miller.

Miller said that, An agreement [between Russia and Turkey] has been reached on operational commissioning and the start of gas deliveries via Turkish Stream in December 2016, according to a statement released by Gazprom. The agreement was signed by Miller and Turkish Minister of Energy and Natural Resources Taner Yildiz during a meeting on Thursday. The head of Gazprom said that Gazprom will regard today’s agreements as a basis for the schedule of its work on the Turkish Stream project.

The construction of Turkish Stream was agreed between Russian Gazprom and Turkish Botas in December 2014. The pipeline with an annual capacity of 63 billion cubic meters will replace the South Stream, which was suspended over the EU’s stance on Russia.

Turkish Stream will travel from Russia, transit through Turkey, and stop at the Greek border, giving Russia access to the Southern European market.

Miller and Yildiz have also discussed modernization of the existing Blue Stream gas pipeline, Gazprom said in its statement.Blue Stream, which possesses annual capacity of 16 billion cubic meters, runs under the Black Sea and provides direct delivery of gas to Turkish consumers.

In the first four months of 2015 Blue Stream delivered about 5.4 billion cubic meters of gas from Russia to Turkey, which is 4 percent more than in the same period of 2014, according to operational data. Consumption of natural gas has more than doubled over the past 10 years, and the Turkish market is interested in a further increase in energy exports from Russia, the negotiators said.

Russian president Vladimir Putin said Russia is ready to consider providing finance to Greek companies that will participate in the construction of a gas pipeline continuing the Turkish Stream, the press service of the Kremlin confirmed in a statement.

Source: http://rt.com/

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The manufacturers are the persons who convert the raw material in to the finished products. The turkey manufacturers are now in a crisis. The economy of turkey has fallen down rapidly in the recent years. If there is a growth in the industries of turkey, it would help their economy to regain their standards.

 The manufacturing industries in turkey are diverse and they are the growing industries. The Turkish manufacturers are well-focused on the target of the textile industries. The domestic cotton and wool have been supplying much of the raw materials to the textile industry. But now the synthetic production has also expanded. The textile sector contributed 20 percent of total manufacturing output and employed 33 percent of all workers in the mid-1990s.There was a huge fluctuation in the textile industry of turkey between 1980’s to 1990’s.

         The Agro-processing is one of the most dynamic branches in the manufacturing industries of turkey. They supply the manufactured products both to the domestic and global b2b markets. The main product lines are sugar, flour, processed meat and milk, and fruits and vegetables. The manufacturers of turkey have also set their paths in iron and steel, chemical, cement and automobile industry.

      The iron and steel industry is also developing a competitive advantage with other countries. The capacity use in iron and steel has increased from 1980’s to 1990’s. Similarly, the demand for cement also has increased in 1980’s to 1990’s.The chemical industry is one of the country’s largest in terms of value, is concentrated in a few large state enterprises, including the Petrochemical Corporation. The high quality of the country's minerals gives it a comparative advantage. The sector's goal is to make the country self-sufficient in petrochemicals to satisfy their needs. They have also entered in to the Automobile industry in 1980’s and 1990’s and they had made remarkable trends.

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