Abstract:

The aim of this study is to investigate Turkey-Germany economic relations using PESTEL Analysis. Secondary data (1924-2015) were used in the study. Some results derived from PESTEL analysis can be summarized as follows. On the one hand, Germany tries to keep positive relations with Turkey situated on the energy corridor in order to avoid an energy bottleneck in the future; on the other hand, she remains distance to membership of Turkey’s to the EU. The number of foreign companies investing in Turkey is totally 45 270 in the period of 1954-2013/August, of 13,96% owned by Germany. Number of German companies investing to Turkey has increased about 60% in the last six years. Totally 8953 million US dollar foreign investment was achieved in Turkey in the period of January-August 2015. Of 220 million US dollar belong to Germany. Preferring of Turkey as tourism destination by 15-20% German tourists has contributed to development of economic relations among two countries. SMEs established by Turkish who went to Germany as labour in 1960s have acted as catalyst in the development of commercial relations between Turkey and Germany. In order to reach the aim of 500 billion US dollar exports and 1 trillion US dollar trade volume until the year 2023 which is 100th anniversary of establishment Turkish Republic, there is a need to find alternative markets outside of Germany.

Keywords: