During 2021, post-Covid period, Türkiye’s GDP (grew by 11 per cent) was the fastest growing among G20 countries. In parallel with accelerating growth, 77 per cent of Swedish companies responded to the survey, stated profitability in 2021. On the other hand, Turkish Lira is highly depreciated; the loss reached out to 49 per cent against USD in the last quarter of 2021.
2021 was a very successful year for Swedish companies, despite ups and downs on the market. Benefiting from Türkiye’s unique position, Swedish companies in Türkiye have over the years invested in new factories, built R&D facilities, acquired local Turkish companies, contributed to Turkish exports, and provided thousands of job opportunities.
Similar to many global players, Swedish companies are planning to invest more in Türkiye. More than half of the respondents of our survey (52 per cent) anticipate increase in their investments in the market.
Swedish solutions are known for their high quality and durability. In addition to the historical background between the countries, Team Sweden in Türkiye continuously promotes the “Swedish brand” image and Swedish solutions. The survey results also demonstrate that the “Swedish brand” image contributes extensively to Swedish companies’ business in Türkiye
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
The Business Climate Survey is a tool developed to map the opportunities and challenges that Swedish companies face when doing business in Türkiye. This report presents the conclusions drawn from the survey and an analysis based on the current business situation, economic outlook, as well as other market aspects believed to be relevant for companies operating or planning to establish themselves in Türkiye.
Team Sweden sent out The Business Climate Survey Türkiye 2022 on March 31 to Swedish companies in Türkiye. Responses have been collected until April 20. The survey targeted company representatives who are mostly business unit, country or sales managers of the Swedish companies. The survey was sent out to 116 recipients, 65 of which provided answers (56 per cent response rate).
Lastly, we would like to extend our most sincere gratitude to the participating companies and respondents who have contributed to this report.