Gross domestic product is the total value of all goods and services produced in a country in a year. It is considered an important indicator of the economic strength of a country. In 2024, GDP in Turkey amounted to around 1,322.41 billion U.S. dollars. Gross domestic product as a reliable indicatorGross domestic product, or GDP for short, not only shows the aforementioned value; by doing so it gives an idea of the state of a country’s economy and standard of living. The higher and more stable a country’s GDP, the better its economic situation. Since GDP is measured consistently worldwide, comparisons between countries are possible and quite reliable. Turkey’s economy on the decline? Turkey’s gross domestic product has been on a decline for the past years and is estimated to hit rock bottom in 2019, with a projected steep upturn afterwards. At the same time, inflation is set to peak at almost 17.5 percent the same year, and unemployment is on the rise. All in all, the figures do not look promising for Turkey, but at least estimations assume a quick recovery. However, this economic development is likely due to the political path the country has chosen in recent years, and it remains to be seen if the forecasts will prove true in the future or if Turkey’s economy needs to brace itself for a further downturn instead.

Historical chart and dataset showing Turkey GDP by year from 1960 to 2023.

This statistic shows the share economic sectors in gross domestic product (GDP) in Turkey from 2013 to 2023. In 2023, agriculture contributed 6.16 percent to GDP, while industry and services accounted for 28.38 percent and 54.13 percent respectively.

Turkey: Shadow economy, percent of GDP: The latest value from 2015 is 27.43 percent, a decline from 27.45 percent in 2014. In comparison, the world average is 27.78 percent, based on data from 158 countries. Historically, the average for Turkey from 1991 to 2015 is 31.38 percent. The minimum value, 27.33 percent, was reached in 2013 while the maximum of 35.99 percent was recorded in 1991.

Turkey TR: Potential Output of Total Economy data was reported at 73,003.350 TRY bn in 2026. This records an increase from the previous number of 58,934.315 TRY bn for 2025. Turkey TR: Potential Output of Total Economy data is updated yearly, averaging 1,579.997 TRY bn from Dec 1998 (Median) to 2026, with 29 observations. The data reached an all-time high of 73,003.350 TRY bn in 2026 and a record low of 70.238 TRY bn in 1998. Turkey TR: Potential Output of Total Economy data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Turkey – Table TR.OECD.EO: GDP: Potential Output and Output Gap: Forecast: OECD Member: Annual. GDPTR - Potential output, nominal value OECD calculation, see OECD Economic Outlook database documentation

Tourism Revenues in Turkey decreased to 9451 USD Million in the first quarter of 2025 from 13788 USD Million in the fourth quarter of 2024. This dataset provides - Turkey Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in Turkey was last recorded at 14713.57 US dollars in 2023. The GDP per Capita in Turkey is equivalent to 117 percent of the world's average. This dataset provides the latest reported value for - Turkey GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Turkey Real GDP Growth

• The Gross Domestic Product (GDP) in Turkey expanded 3.5 % YoY in Dec 2022, following a growth of 4.0 % in the previous quarter.
• Real GDP Growth YoY data in Turkey is updated quarterly, available from Mar 1999 to Dec 2022, with an average rate of 6.1 %.
• The data reached an all-time high of 22.2 % in Jun 2021 and a record low of -14.5 % in Mar 2009.

• In the latest reports, Nominal GDP of Turkey reached 257.9 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 99.1 % in Dec 2022.
• GDP Per Capita in Turkey reached 10,655.5 USD in Dec 2022.
• Its Gross Savings Rate was measured at 29.2 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 33.2 % in Dec 2022.
• Public Consumption accounted for 12.8 % in Dec 2022.
• Private Consumption accounted for 58.0 % in Dec 2022.

GDP (current US$) in Turkey was reported at 1118252964261 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Turkey - GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.

Claims on other sectors of the domestic economy (% of GDP) in Turkey was reported at 50.7 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Turkey - Claims on other sectors of the domestic economy (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Turkey TR: GDP: Growth: Gross Value Added: Services data was reported at 3.155 % in 2016. This records a decrease from the previous number of 5.618 % for 2015. Turkey TR: GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 5.790 % from Dec 1969 (Median) to 2016, with 48 observations. The data reached an all-time high of 13.183 % in 1987 and a record low of -4.340 % in 1994. Turkey TR: GDP: Growth: Gross Value Added: Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Turkey – Table TR.World Bank: Gross Domestic Product: Annual Growth Rate. Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Turkey: Informal economy, DGE method: The latest value from 2020 is 24.2 percent, a decline from 24.7 percent in 2019. In comparison, the world average is 28.16 percent, based on data from 156 countries. Historically, the average for Turkey from 1990 to 2020 is 30.74 percent. The minimum value, 24.2 percent, was reached in 2020 while the maximum of 38.4 percent was recorded in 1990.

Turkey recorded a trade deficit of 6645.16 USD Million in May of 2025. This dataset provides the latest reported value for - Turkey Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Turkey: Economic decline index, 0 (low) - 10 (high): The latest value from 2024 is 7.5 index points, an increase from 6.9 index points in 2023. In comparison, the world average is 5.54 index points, based on data from 176 countries. Historically, the average for Turkey from 2007 to 2024 is 5.27 index points. The minimum value, 4.5 index points, was reached in 2018 while the maximum of 7.5 index points was recorded in 2024.

Claims on other sectors of the domestic economy (annual growth as % of broad money) in Turkey was reported at 54.8 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Turkey - Claims on other sectors of the domestic economy (annual growth as % of broad money) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

The statistic shows the national debt of Turkey from 2020 to 2023 in relation to the gross domestic product (GDP), with projections up until 2030. The data relate to the entire Turkish state and include government debt and the debt of the provinces, municipalities, communes as well as social security. In 2023, Turkey's national debt amounted to around 29.26 percent of the GDP. Turkey's economic situation Based on the current state of its economy, Turkey is defined as an emerging market and one of the newly industrialized countries in the world. Turkey is identified as one of the members of the G-20 major economies and is also a member of the EU Customs Union, allowing for custom-free trade amongst all member states. Like every other country's economy, Turkey’s economy is primarily made up of three different sectors; agriculture, industry and services. Over the past decade, Turkey has shifted more focus to its services sector, most notably tourism, communications and transport, while slightly decreasing its dependency on the agricultural and industrial aspects. While many other countries have struggled to recover from the 2008 global financial crisis as well as the Eurozone crisis, the Turkish economy returned to its pre-crisis form in several years and has since seen exponential economic growth and higher productivity and efficiency, more than double the amount compared to a decade prior. With regards to total GDP, government spending within the country has remained relatively low and has remained stable over the past decade, in comparison to developed EU countries, which may be spending more than they can afford.

Exports in Turkey increased to 24800 USD Million in May from 20785.33 USD Million in April of 2025. This dataset provides the latest reported value for - Turkey Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Turkey TR: GDP: USD data was reported at 851.102 USD bn in 2017. This records a decrease from the previous number of 863.722 USD bn for 2016. Turkey TR: GDP: USD data is updated yearly, averaging 98.998 USD bn from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 950.579 USD bn in 2013 and a record low of 8.022 USD bn in 1961. Turkey TR: GDP: USD data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Turkey – Table TR.World Bank.WDI: Gross Domestic Product: Nominal. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.; ; World Bank national accounts data, and OECD National Accounts data files.; Gap-filled total;

Turkey: Inflation forecast: The latest value from 2030 is 15 percent, unchanged from 15 percent in 2029. In comparison, the world average is 3.65 percent, based on data from 182 countries. Historically, the average for Turkey from 1986 to 2030 is 36.36 percent. The minimum value, 6.16 percent, was reached in 2012 while the maximum of 115.7 percent was recorded in 1994.

Graph and download economic data for Composite Leading Indicators: Reference Series (GDP) Calendar and Seasonally Adjusted for Turkiye (LORSGPORTRQ659S) from Q1 1961 to Q3 2023 about leading indicator, Turkey, and GDP.