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

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.

The Gross Domestic Product per capita in Turkey was last recorded at 15147.84 US dollars in 2024. The GDP per Capita in Turkey is equivalent to 120 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.

CEIC calculates Real GDP Growth from quarterly Real GDP Index. Turkish Statistical Institute provides Real GDP Index with base 2009=100.


Related information about Turkey Real GDP Growth

• 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.

Turkey: Value added in the agricultural sector as percent of GDP: The latest value from 2023 is 6.16 percent, a decline from 6.48 percent in 2022. In comparison, the world average is 9.91 percent, based on data from 166 countries. Historically, the average for Turkey from 1960 to 2023 is 21.25 percent. The minimum value, 5.53 percent, was reached in 2021 while the maximum of 54.92 percent was recorded in 1960.

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: 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.

GDP from Manufacturing in Turkey decreased to 90987222 TRY Thousand in the first quarter of 2025 from 99824651 TRY Thousand in the fourth quarter of 2024. This dataset provides the latest reported value for - Turkey Gdp From Manufacturing - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The labor participation rate among the total population aged between 15 and 64 in Turkey stood at 59.97 percent in 2024. Between 1990 and 2024, the labor participation rate rose by 0.46 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend.

This statistic shows the share economic sectors in gross domestic product (GDP) in Turkey from 2014 to 2024. In 2024, agriculture contributed 5.59 percent to GDP, while industry and services accounted for 25.94 percent and 56.82 percent respectively.

GDP (current US$) in Turkey was reported at 1323254808059 USD in 2024, 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 July of 2025.

GDP, billion currency units in Turkey, March, 2025 The most recent value is 12125.17 billion Turkish Lira as of Q1 2025, a decline compared to the previous value of 12704.05 billion Turkish Lira. Historically, the average for Turkey from Q1 1998 to Q1 2025 is 1284.48 billion Turkish Lira. The minimum of 13.45 billion Turkish Lira was recorded in Q1 1998, while the maximum of 12704.05 billion Turkish Lira was reached in Q4 2024. | TheGlobalEconomy.com

Graph and download economic data for National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Turkey (TURGDPNQDSMEI) from Q1 1998 to Q3 2023 about Turkey and GDP.

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.

Key information about Turkey Market Capitalization: % of GDP

• Turkey Market Capitalization accounted for 30.9 % of its Nominal GDP in Dec 2024, compared with a percentage of 37.8 % in the previous year
• Turkey Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1998 to Dec 2024
• The data reached an all-time high of 56.9 % in Dec 1999 and a record low of 14.7 % in Dec 1998

CEIC calculates Market Capitalization as % of Nominal GDP from monthly Market Capitalization and quarterly Nominal GDP. Borsa Istanbul provides Market Capitalization in local currency. Turkish Statistical Institute provides Nominal GDP in local currency.


Further information about Turkey Market Capitalization: % of GDP

• In the latest reports, Borsa Istanbul recorded a monthly P/E ratio of 12.3 in Jan 2025
• BIST National 100 closed at 116,524.8 points in Jun 2020

Graph and download economic data for Gross Domestic Product for Turkey (MKTGDPTRA646NWDB) from 1960 to 2024 about Turkey and GDP.

Turkey: Informal economy, MIMIC method: The latest value from 2020 is 31 percent, unchanged from 31 percent in 2019. In comparison, the world average is 32.74 percent, based on data from 158 countries. Historically, the average for Turkey from 1993 to 2020 is 31.8 percent. The minimum value, 30.4 percent, was reached in 2017 while the maximum of 33.1 percent was recorded in 2009.

GDP Constant Prices in Turkey decreased to 528414465 TRY Thousand in the first quarter of 2025 from 626966328 TRY Thousand in the fourth quarter of 2024. This dataset provides the latest reported value for - Turkey GDP Constant Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Turkey Public Consumption: % of GDP

• Turkey Public Consumption accounted for 15.3 % of its Nominal GDP in Dec 2024, compared with a share of 13.6 % in the previous quarter.
• Turkey Public Consumption share of Nominal GDP ratio is updated quarterly, available from Mar 1998 to Dec 2024, with an average number of 13.5 %.
• The data reached an all-time high of 17.1 % in Jun 2020 and a record low of 9.3 % in Sep 1998.

CEIC calculates Government Consumption as % of Nominal GDP from quarterly Government Consumption Expenditure and quarterly Nominal GDP. Turkish Statistical Institute provides Government Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about Turkey Public Consumption: % of GDP

• In the latest reports, Turkey GDP expanded 4.0 % YoY in Mar 2023.
• Turkey Nominal GDP reached 245.5 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 77.3 % in Mar 2023.
• Turkey GDP Per Capita reached 15,463.4 USD in Dec 2024.
• Its Gross Savings Rate was measured at 23.9 % in Dec 2024.
• For Nominal GDP contributions, Investment accounted for 24.2 % in Dec 2024.
• Private Consumption accounted for 60.7 % in Dec 2024.

Turkey trade to gdp ratio for 2023 was 66.28%, a 14.89% decline from 2022.

<ul style='margin-top:20px;'>

<li>Turkey trade to gdp ratio for 2022 was <strong>81.17%</strong>, a <strong>10.09% increase</strong> from 2021.</li>
<li>Turkey trade to gdp ratio for 2021 was <strong>71.08%</strong>, a <strong>9.74% increase</strong> from 2020.</li>
<li>Turkey trade to gdp ratio for 2020 was <strong>61.34%</strong>, a <strong>1.85% decline</strong> from 2019.</li>
</ul>Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product.