The Gross Domestic Product (GDP) in Turkey expanded 4.80 percent in the second quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Turkey GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This statistic shows the growth of the real gross domestic product (GDP) in Turkey from 2020 to 2024, with projections up until 2030. The real GDP is also known as economic growth. In 2024, the growth of the real GDP in Turkey was at approximately 3.18 percent compared to the previous year. Turkey's economy Based on economic standards, Turkey is recognized as an emerging market and is one of the world’s newly industrialized countries, having earned a place in the Group of Twenty, which is a group consisting of the twenty most important economies in the world. Turkey’s economical significance is partially attributed to the country’s growth, especially during the recent global financial recession. While countries around the world struggled to grow, let alone maintain a balanced economy, Turkey experienced a rather high percentage of gross domestic product growth annually. Additionally, Turkey’s financial sector saw significant improvements, most notably with the country’s inflation, which reached rates lower than those prior to the financial crash and even the lowest in a decade. With a rapidly growing populace as well as having had one of the fastest growing economies in Europe and the world, Turkey managed to maintain a stable and unchanged unemployment rate over the past decade, with the exception of 2009. However, despite a significant spike in unemployment, Turkey’s competent management helped bring the total unemployment rate to single digits for the first time in many years.

The Gross Domestic Product (GDP) in Turkey expanded 1.60 percent in the second quarter of 2025 over the previous quarter. This dataset provides the latest reported value for - Turkey GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Turkey: Economic growth: the rate of change of real GDP: The latest value from 2024 is 3.18 percent, a decline from 5.11 percent in 2023. In comparison, the world average is 3.20 percent, based on data from 177 countries. Historically, the average for Turkey from 1961 to 2024 is 4.76 percent. The minimum value, -5.75 percent, was reached in 2001 while the maximum of 11.44 percent was recorded in 2021.

Turkey: Uneven economic development index, 0 (low) - 10 (high): The latest value from 2024 is 7.1 index points, an increase from 6.6 index points in 2023. In comparison, the world average is 5.28 index points, based on data from 176 countries. Historically, the average for Turkey from 2007 to 2024 is 6.5 index points. The minimum value, 4.6 index points, was reached in 2022 while the maximum of 8.7 index points was recorded in 2007.

Full Year GDP Growth in Turkey decreased to 3.20 percent in 2024 from 5.10 percent in 2023. This dataset includes a chart with historical data for Turkey Full Year GDP Growth.

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: Economic growth forecast: The latest value from 2030 is 4.1 percent, an increase from 3.86 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for Turkey from 1980 to 2030 is 4.5 percent. The minimum value, -5.75 percent, was reached in 2001 while the maximum of 11.44 percent was recorded in 2021.

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.

Turkey TR: Economic Development Programmes: % of Civil GBARD data was reported at 12.466 % in 2023. This records a decrease from the previous number of 14.597 % for 2022. Turkey TR: Economic Development Programmes: % of Civil GBARD data is updated yearly, averaging 16.895 % from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 23.142 % in 2015 and a record low of 12.466 % in 2023. Turkey TR: Economic Development Programmes: % of Civil GBARD 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.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

Before 2016, total R&D personnel data for Türkiye are underestimated because personnel data for the Higher Education sector only include researchers. From 2008, universities’ own R&D funds are included in funding from the Higher education whereas they were previously distributed into the other funding categories.

The Gross Domestic Product (GDP) in Turkey was worth 1323.25 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Turkey represents 1.25 percent of the world economy. This dataset provides the latest reported value for - Turkey GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Turkey Nominal GDP Growth

• Turkey Nominal GDP Growth was reported at 48.974 % in Dec 2024.
• This records a decrease from the previous number of 53.569 % for Sep 2024.
• Turkey Nominal GDP Growth data is updated quarterly, averaging 19.171 % from Mar 1999 to Dec 2024, with 104 observations.
• The data reached an all-time high of 120.982 % in Sep 2022 and a record low of -3.410 % in Jun 2009.
• Turkey Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly.

Economic growth, quarterly in Turkey, March, 2025 The most recent value is 1 percent as of Q1 2025, a decline compared to the previous value of 1.7 percent. Historically, the average for Turkey from Q2 1998 to Q1 2025 is 1.14 percent. The minimum of -10.7 percent was recorded in Q2 2020, while the maximum of 16.4 percent was reached in Q3 2020. | TheGlobalEconomy.com

TR: Civil GBARD: Current PPP: Economic Development Programmes data was reported at 1.727 USD bn in 2024. This records a decrease from the previous number of 1.772 USD bn for 2023. TR: Civil GBARD: Current PPP: Economic Development Programmes data is updated yearly, averaging 1.361 USD bn from Dec 2008 (Median) to 2024, with 17 observations. The data reached an all-time high of 1.772 USD bn in 2023 and a record low of 423.469 USD mn in 2008. TR: Civil GBARD: Current PPP: Economic Development Programmes 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.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

Before 2016, total R&D personnel data for Türkiye are underestimated because personnel data for the Higher Education sector only include researchers. From 2008, universities’ own R&D funds are included in funding from the Higher education whereas they were previously distributed into the other funding categories.

Turkey TR: Research and Development Expenditure: % of GDP data was reported at 1.006 % in 2014. This records an increase from the previous number of 0.943 % for 2013. Turkey TR: Research and Development Expenditure: % of GDP data is updated yearly, averaging 0.580 % from Dec 1996 (Median) to 2014, with 19 observations. The data reached an all-time high of 1.006 % in 2014 and a record low of 0.371 % in 1998. Turkey TR: Research and Development Expenditure: % of GDP 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: Technology. Gloss domestic expenditures on research and development (R&D), expressed as a percent of GDP. They include both capital and current expenditures in the four main sectors: Business enterprise, Government, Higher education and Private non-profit. R&D covers basic research, applied research, and experimental development.; ; UNESCO Institute for Statistics; Weighted average; Each economy is classified based on the classification of World Bank Group's fiscal year 2018 (July 1, 2017-June 30, 2018).

As 2022 progressed, less Turkish lira could be bought with U.S. dollars than in previous years, decreasing by nearly five liras. By August 6, 2025, one U.S. dollar was worth approximately 40.67. The average (standardized) measure is based on the calculation of many observations throughout the period in question. It is therefore different from an annual measure at a point, which reflects concrete values as of the end of the year.

Reaching nearly 20 Turkish lira per one single euro, the EUR/TRY exchange rate increased well into 2022. As of August 6, 2025, the exchange rate reached approximately 47.08 Turkish lira. The concrete, or point in time, measure shows the exchange rate as of the last day of each month, which is different from the standardized measure; calculation of average based on observations throughout the period in question.

A survey conducted amongst senior executives, academics, and opinion leaders in Turkey in 2022 revealed the lead sector that is expected to contribute to the development of the country. One third of the participants expected the energy, infrastructure, and natural resources to lead in terms of development. Moreover, tourism and software ranked second and third, with ** and ** percent, respectively.

The statistic shows the gross domestic product (GDP) per capita in Turkey from 1987 to 2024, with projections up until 2030. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a change in it is a sign of economic growth. In 2024, the GDP per capita in Turkey was estimated to be around 15,463.29 U.S. dollars. Turkey and the economic crisis Due to slight economic growth, Turkey is beginning to be recognized as an emerging market and one of the newer industrialized countries in the world. After the global financial recession, many economical aspects of the country crashed. However, Turkey implemented stimulus packages, including temporary tax cuts, and as a result, Turkey’s economy recovered from the crisis faster than many other nations. Not only is Turkey’s economic recovery is evident in an annual rise in GDP, but also in a significant plunge in unemployment since the crash as well as in a decrease of the inflation rate , which reached decade-low levels. Turkey specializes in the production of clothing, automotive, iron and steel, chemicals and agricultural products. Due to a high agricultural output rate, Turkey has been efficient in food production and is viewed as one of the most plentiful producers of fresh fruit worldwide. Agricultural production has also seen growth over the years in the country; however Turkey has slowly become less dependent on it as a main source of income.

Turkey TR: GDP: Growth: GNI per Capita data was reported at 5.549 % in 2017. This records an increase from the previous number of 1.624 % for 2016. Turkey TR: GDP: Growth: GNI per Capita data is updated yearly, averaging 4.189 % from Dec 1988 (Median) to 2017, with 30 observations. The data reached an all-time high of 9.468 % in 2011 and a record low of -8.336 % in 2001. Turkey TR: GDP: Growth: GNI per Capita 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: Annual Growth Rate. Annual percentage growth rate of GNI per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;