Since 2002, the Turkish economy has been growing and improving steadily. Thanks to the growing employment rate and increasing average income, Türkiye has evolved into an upper-middle-income country.

Growing economy

There are several explanations for Türkiye´s economic development, such as the extensive infrastructure investments, a customs union with the EU, and a competitive tax system. The strategic location between Europe and Asia and the young and dynamic population are important assets to attract foreign businesses with aspirations to expand beyond Europe. Today, business opportunities are found within energy, healthcare, infrastructure, telecommunications and retail. The economic situation is beneficial, but cultural differences can be challenging and are worth bearing in mind when doing business in Türkiye. 

Trade relations with historic roots

Trade relations between Sweden and Türkiye began in the 1700s. Nowadays, about 140 Swedish companies have ongoing operations in Türkiye, and many more are working with local distributors or agents. Export from Sweden to Türkiye covers a range of products including machinery and paper products, chemical and pharmaceutical products, iron and metal, products from the automotive sector, telecommunication equipment and electrical appliances.

How we can help

Business Sweden has been active in Türkiye since 1991 with an office in Istanbul. The team has expertise and network needed to help Swedish companies set up a successful subsidiary in Türkiye.