Türkiye’s advantageous geographical location, large and young population, and strong production network have made it an attractive destination for Swedish companies seeking to expand their operations.

But Türkiye has faced challenges related to macro-financial instability, including high private sector debt, persistent current account deficits, elevated inflation, and a high unemployment rate. Additionally, recent earthquakes in February 2023 caused extensive damage, affecting a considerable portion of the population and the economy.

Despite the slowdown in growth numbers and macroeconomic volatility, 77 per cent of the Swedish companies that participated in the survey stated profitability during 2022. However, when it comes to investments, many Swedish companies are acting cautiously, given the uncertain macroeconomic climate. Overall, the results of the survey still indicate that Türkiye, with its 85 million inhabitants and strategic geographical location, continues to be a promising market for Swedish companies.

In 2022, Swedish companies continued to maintain their competitive edge and strong positions in the Turkish market with efficient, high quality and competitive solutions, as well as by leveraging the “Swedish” identity and brand – promoting Swedish solutions favourably against other competitors.

Please download the report to fully overview the results with a detailed analysis. 


The purpose of the Business Climate Survey Türkiye is to provide an in-depth analysis of the Turkish market conditions beyond the macro-economic data and to identify opportunities and challenges that Swedish companies encounter in their respective markets.

Responses to the survey were collected between 8 March and 8 April 2023. Of the 118 companies contacted, 64 responded, resulting in a response rate of 54.23 per cent.

We would like to express our utmost appreciation to the participating companies and respondents who have generously contributed with their valuable insights and data, making this report possible. Your contributions have been instrumental in shaping a comprehensive and insightful analysis of the Turkish market.