FOREIGN DIRECT INVESTMENT
STATISTICS IN TURKEY
MENA/OECD TASK FORCE ON FDI STATISTICS
NOVEMBER 9, 2006
İSTANBUL
Yeşim Şişik
Balance of Payment Division
Statistics Department
Central Bank of Turkey
CONTENTS
A. LEGAL FRAMEWORK
1)
2)
Legal Framework related to Treasury
Legal Framework related to CBRT
B. METHODS OF DATA COLLECTION
1)
2)
a.
b.
FDI Flow Data
FDI Position Data
Direct Investment Abroad
Direct Investment in Turkey (Survey System)
C. RELATIONS WITH THE
INTERNATIONAL ORGANISATIONS AND
USERS
INTRODUCTION
FDI Statistics are compiled and disseminated by
the CBRT as a part of BOP and IIP statistics.
A. LEGAL FRAMEWORK

Legal Framework related to Undersecretariat of
Treasury.
The new FDI Law facilitates the
establishment of an ‘investment monitoring
system’ instead of an ‘investment permission
system’
Legal Framework related to Undersecretariat
of Treasury.
Internationally accepted FDI definition is
included to the new FDI Law.
Also, the new Law contains comprehensive
investor rights.
Regarding outward FDI, Turkish residents may
freely transfer up to USD 5 million through banks in
order to establish companies abroad.
The transfer of capital exceeding USD 5 million is
authorized by Treasury.
The banks and customs administrations give
information to the Treasury within 30 days from the
date of each transaction.
Legal
Framework related to Central Bank of
Turkey
The compilation of BOP data is regulated by
the CBRT Law.
Confidentiality of data reported by banks are
guaranteed by CBRT Law.
B. METHODS OF DATA COLLECTION
1) FDI FLOW DATA
Banks are submitted the “Monthly Foreign Exchange
Position Report” to the CBRT within 21 days after the
end of the reference period.
Data on FDI flows are collected from this monthly report
and details are also provided to the CBRT.
Private sector’s external debt monitoring system is a data
source for inward FDI other capital transactions.
2) FDI POSITION DATA
a) Direct Investment Abroad
Data on direct investment abroad are based on
Banks’ foreign exchange records for banking
sector and
Undersecretariat of Treasury’s records for
non-bank sector
Sectoral and geographical breakdown are also
available
b.Direct Investment in Turkey
– Annual FDI survey conducted by Central Bank of
Turkey
– The first survey was a pilot study and outcomes were
not published.
– In 2001, the first official survey was conducted.
– Every year, response rate has increased gradually.
– Conducting annual survey was a challenging task for
the CBRT.
Implementations, difficulties, and
improvements..............
I- Sampling method
Threshold was determined to select survey
population in early years of the survey.
Stratified sampling method has been added to the
selection process last year.
Implementations, difficulties, and
improvements..............
II- Technical Improvements
Official e-mail addresses are provided.
Sample survey, which can be downloaded by
respondents, is posted to the CBRT’s website.
This website address is not accessible to the
public and it was only provided to respondents.
Implementations, difficulties, and
improvements..............
III- The coverage of FDI survey
FDI enterprises are required to report both the book value and the
market value.
Book value of a FDI enterprise consists of
- paid-up capital
- all types of reserves
- reinvested earnings
- non-distributed profits including the current year’s profit
Market values were included in IIP
Next year, trade credits related questions are planned to be
included into FDI survey
Implementations, difficulties, and
improvements..............
IV- Valuation of FDI position
Following the finalization of the survey, FDI stocks are
adjusted to market prices by using market value/book
value ratios for non-listed FDI enterprises.
If the respondent FDI enterprises’ equity shares are
traded in the IMKB, the announced (or reported) market
values of these enterprises are used.
C- RELATIONS WITH THE INTERNATIONAL
ORGANIZATIONS AND USERS
Users of FDI data and international organisations such as the
IMF, OECD and EUROSTAT request very detailed and timely
information.
FDI flow and stock data with geographical and economic
activity breakdown are submitted to the OECD and
EUROSTAT. Only, FDI flow and stock data are sent to the
IMF as a part of BOP and IIP data submission on an annual
and quarterly basis.
For other national and international users, the detailed FDI
data with geographical and economic activity breakdown are
posted on the CBRT’s internet website and can be reached
from the following links (www.tcmb.gov.tr/odemedenge/iip.xls
and www.tcmb.gov.tr/odemedenge/bop.xls)
THANK YOU FOR YOUR ATTENTION