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Article: Turkey's paint market. (International Coatings Scene).(do-it-yourself paints sector popular)
- Article from:
- Coatings World
- Article date:
- November 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Rodman Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Turkey has been going through a period of extreme economic turbulence over the last two years, having hit its worst recession since 1945. Sparked by a political clash between the Turkish president and prime minister in Feb. 2001 which sent foreign investors packing, the economy was further hit by the repercussions of the 9/11 attacks and is now undergoing a multi-billion dollar IMF-backed economic rescue program. But despite high debts and unemployment, the country remains a major hub for the coatings industry in the Mediterranean area and looks like it will prosper in the future.
According to a recent report on the Middle Eastern paint industry published by the ...