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.

As 2022 progressed, less Turkish lira could be bought with U.S. dollars than in previous years, decreasing by nearly five liras. By November 4, 2025, one U.S. dollar was worth approximately 42.07. 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.

In 2023, Turkish people with a doctoral or equivalent educational level reached the highest employment rate, measuring at 91 percent. At the same time, only about half of the population with below upper secondary level as their highest level of education were employed.

Turkey GOI: Weighted Rank data was reported at 66.000 NA in 2019. This records a decrease from the previous number of 69.000 NA for 2018. Turkey GOI: Weighted Rank data is updated yearly, averaging 67.000 NA from Dec 2017 (Median) to 2019, with 3 observations. The data reached an all-time high of 69.000 NA in 2018 and a record low of 66.000 NA in 2019. Turkey GOI: Weighted Rank data remains active status in CEIC and is reported by Milken Institute. The data is categorized under Global Database’s Turkey – Table TR.Milken: Global Oportunity Index.

Time series data for the statistic Consolidated foreign claims of BIS reporting banks to GDP (%) and country Turkey.

Turkey TR: Ease of Doing Business Index: 1=Most Business-friendly Regulations data was reported at 60.000 NA in 2017. Turkey TR: Ease of Doing Business Index: 1=Most Business-friendly Regulations data is updated yearly, averaging 60.000 NA from Dec 2017 (Median) to 2017, with 1 observations. Turkey TR: Ease of Doing Business Index: 1=Most Business-friendly Regulations 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: Business Environment. Ease of doing business ranks economies from 1 to 190, with first place being the best. A high ranking (a low numerical rank) means that the regulatory environment is conducive to business operation. The index averages the country's percentile rankings on 10 topics covered in the World Bank's Doing Business. The ranking on each topic is the simple average of the percentile rankings on its component indicators.; ; World Bank, Doing Business project (http://www.doingbusiness.org/).; ; Data are presented for the survey year instead of publication year. Data before 2013 are not comparable with data from 2013 onward due to methodological changes.

Time series data for the statistic Foreign_Direct_Investment_Net_Inflows_%_of_GDP and country Turkey. Indicator Definition:Foreign direct investment are the net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. This series shows net inflows (new investment inflows less disinvestment) in the reporting economy from foreign investors, and is divided by GDP.The statistic "Foreign Direct Investment Net Inflows % of GDP" stands at 0.8874 percnet as of 12/31/2024, the lowest value since 12/31/2005. Regarding the One-Year-Change of the series, the current value constitutes a decrease of -0.0656 percentage points compared to the value the year prior.The 1 year change in percentage points is -0.0656.The 3 year change in percentage points is -0.6584.The 5 year change in percentage points is -0.3618.The 10 year change in percentage points is -0.533.The Serie's long term average value is 0.835 percnet. It's latest available value, on 12/31/2024, is 0.0524 percentage points higher, compared to it's long term average value.The Serie's change in percentage points from it's minimum value, on 12/31/1976, to it's latest available value, on 12/31/2024, is +0.868.The Serie's change in percentage points from it's maximum value, on 12/31/2006, to it's latest available value, on 12/31/2024, is -2.74.

Time series data for the statistic Government expenditure on tertiary education as % of GDP (%) and country Turkey. Indicator Definition:Total general (local, regional and central) government expenditure on tertiary education (current, capital, and transfers), expressed as a percentage of GDP. It includes expenditure funded by transfers from international sources to government. Divide total government expenditure for a given level of education (ex. primary, secondary, or all levels combined) by the GDP, and multiply by 100. A higher percentage of GDP spent on education shows a higher government priority for education, but also a higher capacity of the government to raise revenues for public spending, in relation to the size of the country's economy. When interpreting this indicator however, one should keep in mind in some countries, the private sector and/or households may fund a higher proportion of total funding for education, thus making government expenditure appear lower than in other countries. Limitations: In some instances data on total public expenditure on education refers only to the Ministry of Education, excluding other ministries which may also spend a part of their budget on educational activities. For more information, consult the UNESCO Institute of Statistics website: http://www.uis.unesco.org/Education/The Serie's long term average value is 0.74. It's latest available value, on 12/31/2006, is 18.52 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/1986, to it's latest available value, on 12/31/2006, is +152.66%.The Serie's change in percent from it's maximum value, on 12/31/1994, to it's latest available value, on 12/31/2006, is -29.35%.

Turkey GOI: Total Rank data was reported at 60.000 NA in 2019. This records a decrease from the previous number of 81.000 NA for 2018. Turkey GOI: Total Rank data is updated yearly, averaging 60.000 NA from Dec 2017 (Median) to 2019, with 3 observations. The data reached an all-time high of 81.000 NA in 2018 and a record low of 58.000 NA in 2017. Turkey GOI: Total Rank data remains active status in CEIC and is reported by Milken Institute. The data is categorized under Global Database’s Turkey – Table TR.Milken: Global Oportunity Index.

Turkey VakıfBank T.A.O.: Net Income or Loss data was reported at 269.680 USD mn in Sep 2019. This records an increase from the previous number of 177.024 USD mn for Jun 2019. Turkey VakıfBank T.A.O.: Net Income or Loss data is updated quarterly, averaging 413.976 USD mn from Dec 2005 (Median) to Sep 2019, with 56 observations. The data reached an all-time high of 987.137 USD mn in Dec 2017 and a record low of 115.703 USD mn in Mar 2019. Turkey VakıfBank T.A.O.: Net Income or Loss data remains active status in CEIC and is reported by The Banks Association of Turkey. The data is categorized under Global Database’s Turkey – Table TR.KB075: Banks Ranked by Total Assets.

The gross domestic product per capita varied between provinces of Turkey. Under the observed period, Istanbul generally registered the highest GDP per capita. However, from 2021, Kocaeli ranked first, with its GDP per capita totaling almost ****** U.S. dollars in 2023. The capital city, Ankara, came third in the ranking, with a GDP per capita of ****** U.S. dollars.

Turkey Kalkınma A.S.: Paid In Capital data was reported at 150.610 USD mn in Sep 2019. This records an increase from the previous number of 147.695 USD mn for Jun 2019. Turkey Kalkınma A.S.: Paid In Capital data is updated quarterly, averaging 94.679 USD mn from Sep 2018 (Median) to Sep 2019, with 5 observations. The data reached an all-time high of 150.610 USD mn in Sep 2019 and a record low of 83.470 USD mn in Sep 2018. Turkey Kalkınma A.S.: Paid In Capital data remains active status in CEIC and is reported by The Banks Association of Turkey. The data is categorized under Global Database’s Turkey – Table TR.KB075: Banks Ranked by Total Assets.

Turkey Turkiye Garanti BBVA A.S.: Net Income or Loss data was reported at 874.680 USD mn in Sep 2019. This records an increase from the previous number of 631.252 USD mn for Jun 2019. Turkey Turkiye Garanti BBVA A.S.: Net Income or Loss data is updated quarterly, averaging 885.053 USD mn from Dec 2015 (Median) to Sep 2019, with 16 observations. The data reached an all-time high of 1.682 USD bn in Dec 2017 and a record low of 305.942 USD mn in Mar 2019. Turkey Turkiye Garanti BBVA A.S.: Net Income or Loss data remains active status in CEIC and is reported by The Banks Association of Turkey. The data is categorized under Global Database’s Turkey – Table TR.KB075: Banks Ranked by Total Assets.

Turkey's total Exports in 2024 were valued at US$261.78 Billion, according to the United Nations COMTRADE database on international trade. Turkey's main export partners were: Germany, the United States and the United Kingdom. The top three export commodities were: Vehicles other than railway, tramway; Machinery, nuclear reactors, boilers and Mineral fuels, oils, distillation products. Total Imports were valued at US$344.01 Billion. In 2024, Turkey had a trade deficit of US$82.23 Billion.

Actual value and historical data chart for Turkey Regulatory Quality Percentile Rank

The statistic shows the average inflation rate in Turkey from 1987 to 2024, with projections up until 2030. In 2024, the average inflation rate in Turkey was at around 58.51 percent compared to the previous year. Turkey’s economy With a continuously growing gross domestic product /GDP and thus a rising share in the global GDP adjusted for Purchasing Power Parity, Turkey’s economy is one of the largest worldwide. By 2030, Turkey is estimated to be one of the countries with the highest gross domestic product worldwide. Import of goods figures and export figures are rising as well, however, the trade balance of Turkey has been in the negative range for several years now with a downwards trend which indicates a serious trade deficit – or in other words: an imbalance between export and import costs; the value of goods Turkey imports is a lot higher than the value of exported goods. Main export partners of Turkey for textiles, automotive goods, iron and steel, among other goods, are mostly European countries, with Germany leading the ranking, followed by Iraq, Great Britain, Italy and France. The most important economic sector for Turkey is the services sector, especially the tourism sector, which has experienced a significant boost over the last decade. Thus, Turkey is now among the most popular destinations for visitors of all nations. A look at gross domestic product /GDP growth in Turkey shows that the country suffered a brief setback during the economic crisis of 2008, but swiftly recovered and was back in the black by 2010. Turkey’s employment figures hardly suffered at all, they too recovered quickly and are now back to pre-crisis levels.

Turkey Turk Ekonomi Bankası A.S.: Net Income or Loss data was reported at 140.154 USD mn in Sep 2019. This records an increase from the previous number of 109.396 USD mn for Jun 2019. Turkey Turk Ekonomi Bankası A.S.: Net Income or Loss data is updated quarterly, averaging 110.899 USD mn from Dec 2005 (Median) to Sep 2019, with 56 observations. The data reached an all-time high of 302.407 USD mn in Dec 2015 and a record low of 31.845 USD mn in Mar 2007. Turkey Turk Ekonomi Bankası A.S.: Net Income or Loss data remains active status in CEIC and is reported by The Banks Association of Turkey. The data is categorized under Global Database’s Turkey – Table TR.KB075: Banks Ranked by Total Assets.

Turkey Turk Ekonomi Bankası A.S.: Total Assets data was reported at 18.153 USD bn in Sep 2019. This records an increase from the previous number of 17.645 USD bn for Jun 2019. Turkey Turk Ekonomi Bankası A.S.: Total Assets data is updated quarterly, averaging 21.021 USD bn from Dec 2005 (Median) to Sep 2019, with 56 observations. The data reached an all-time high of 27.538 USD bn in Jun 2014 and a record low of 4.041 USD bn in Dec 2005. Turkey Turk Ekonomi Bankası A.S.: Total Assets data remains active status in CEIC and is reported by The Banks Association of Turkey. The data is categorized under Global Database’s Turkey – Table TR.KB075: Banks Ranked by Total Assets.

Turkey VakıfBank T.A.O.: Total Assets data was reported at 68.545 USD bn in Sep 2019. This records an increase from the previous number of 66.120 USD bn for Jun 2019. Turkey VakıfBank T.A.O.: Total Assets data is updated quarterly, averaging 56.933 USD bn from Dec 2005 (Median) to Sep 2019, with 56 observations. The data reached an all-time high of 71.734 USD bn in Dec 2017 and a record low of 21.551 USD bn in Jun 2006. Turkey VakıfBank T.A.O.: Total Assets data remains active status in CEIC and is reported by The Banks Association of Turkey. The data is categorized under Global Database’s Turkey – Table TR.KB075: Banks Ranked by Total Assets.