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 Real GDP Growth

• The Gross Domestic Product (GDP) in Turkey expanded 3.7 % YoY in Sep 2025, following a growth of 4.9 % in the previous quarter.
• Real GDP Growth YoY data in Turkey is updated quarterly, available from Mar 1996 to Sep 2025, with an average rate of 9.9 %.
• The data reached an all-time high of 22.4 % in Jun 2021 and a record low of -14.7 % 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 427.9 USD bn in Sep 2025.
• Its GDP deflator (implicit price deflator) increased 36.6 % in Sep 2025.
• GDP Per Capita in Turkey reached 15,325.1 USD in Dec 2024.
• Its Gross Savings Rate was measured at 33.4 % in Sep 2025.
• For Nominal GDP contributions, Investment accounted for 30.5 % in Sep 2025.
• Public Consumption accounted for 13.0 % in Sep 2025.
• Private Consumption accounted for 53.6 % in Sep 2025.

The Gross Domestic Product (GDP) in Turkey expanded 3.70 percent in the third 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.

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.

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.

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.

Key information about Turkey Market Capitalization: % of GDP

• Turkey Market Capitalization accounted for 30.1 % of its Nominal GDP in Dec 2024, compared with a percentage of 37.1 % 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 17.0 in Nov 2025
• BIST National 100 closed at 116,524.8 points in Jun 2020

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.

Key information about Turkey Foreign Exchange Reserves: % of GDP

• Turkey Foreign Exchange Reserves: % of GDP was reported at 6.338 % in Dec 2024
• This records a decrease from the previous number of 6.492 % for Sep 2024
• Turkey Foreign Exchange Reserves: % of GDP data is updated quarterly, averaging 9.897 % from Jun 2000 to Dec 2024, with 99 observations
• The data reached an all-time high of 11.860 % in Mar 2007 and a record low of 4.971 % in Sep 2020
• Turkey Foreign Exchange Reserves: % of GDP 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: Foreign Exchange Reserves: % of Nominal GDP: Quarterly

CEIC calculates quarterly Foreign Exchange Reserves as % of Nominal GDP from monthly Foreign Exchange Reserves and quarterly Nominal GDP. The Central Bank of the Republic of Turkey provides Foreign Exchange Reserves in USD. Turkish Statistical Institute provides Nominal GDP in local currency. The Central Bank of the Republic of Turkey average market exchange rate is used for currency conversions.

Turkey recorded a trade deficit of 7579.90 USD Million in October 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.

Exports in Turkey increased to 23941.23 USD Million in October from 22575.58 USD Million in September 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: Population in Largest City: as % of Urban Population data was reported at 24.244 % in 2017. This records a decrease from the previous number of 24.452 % for 2016. Turkey TR: Population in Largest City: as % of Urban Population data is updated yearly, averaging 21.399 % from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 25.077 % in 2011 and a record low of 16.786 % in 1960. Turkey TR: Population in Largest City: as % of Urban Population 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: Population and Urbanization Statistics. Population in largest city is the percentage of a country's urban population living in that country's largest metropolitan area.; ; United Nations, World Urbanization Prospects.; Weighted Average;

The Gross Domestic Product per capita in Turkey was last recorded at 35294.39 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Turkey, when adjusted by Purchasing Power Parity is equivalent to 199 percent of the world's average. This dataset provides the latest reported value for - Turkey GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Tourism Revenues in Turkey increased to 24300 USD Million in the third quarter of 2025 from 16280 USD Million in the second quarter of 2025. This dataset provides - Turkey Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Snapshot img

Turkey Construction Market Size 2024-2028

The turkey construction market size is forecast to increase by USD 68.3 billion, at a CAGR of 5.96% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing demand for real estate properties. This trend is fueled by both domestic and foreign investors seeking opportunities in Turkey's thriving economy. Another key driver is the government's focus on building earthquake-resilient structures, which is leading to increased investment in advanced construction technologies and materials. However, the market faces challenges as well. The rising cost of construction materials, particularly steel and cement, poses a significant obstacle for construction firms, potentially increasing project costs and impacting profitability. To capitalize on market opportunities and navigate these challenges effectively, companies must stay informed of the latest construction trends and technologies, while also exploring cost-effective solutions for sourcing construction materials. Additionally, collaborating with local partners and suppliers can help mitigate risks and ensure regulatory compliance, ultimately positioning firms for long-term success in Turkey's dynamic construction market.

What will be the size of the Turkey Construction Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The construction industry in Turkey is experiencing dynamic changes, driven by various factors. Research indicates that maintenance and supervision are critical challenges, necessitating innovative solutions. Construction technology adoption, including data analytics and testing, is transforming project management and inspection processes. Building retrofit and adaptive reuse are gaining traction, contributing to the industry's future growth. Sustainable construction practices, green building design, and infrastructure maintenance are key trends, driven by policy and regulatory requirements. Specialty contracting and consulting services are essential for addressing complex projects. Construction economic outlook remains positive, with opportunities in general contracting, repair, and demolition. The industry's future hinges on workforce development, innovation, and compliance with regulations. Construction services, from project management to inspection, are evolving to meet these challenges and opportunities.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. SectorPrivatePublicEnd-userResidentialInfrastructureCommercialGeographyMiddle East and AfricaTurkey

By Sector Insights

The private segment is estimated to witness significant growth during the forecast period.

The Turkish construction market witnesses dynamic activity and trends, driven largely by the private sector. This segment plays a pivotal role in shaping the industry's landscape, offering various services and projects throughout the country. Employment generation and economic growth are significant outcomes of this sector's growth. High-rise buildings, a notable contribution, are increasingly popular in major cities like Istanbul, Ankara, and Izmir. Sustainable and energy-efficient practices, such as LEED certification and green building, are gaining traction in residential and commercial construction. Construction automation, project management, and digital transformation are key trends, with the adoption of construction management software, building information modeling, and robotics in construction. Real estate development, infrastructure projects, and industrial construction are other thriving sectors, with safety regulations, building codes, and quality control ensuring the highest standards. Construction audits, waste management, and recycling initiatives contribute to cost savings and sustainability. Construction financing, permits, and contracts are streamlined through innovative methods, enabling efficient and effective project execution. The market is characterized by continuous innovation, with precast concrete, structural steel, and 3D modeling being widely used. Skilled labor and workforce management are essential components of the industry, with quality assurance and safety regulations ensuring the delivery of top-notch projects. Infrastructure development, including bridge construction and highway construction, is ongoing, driving the demand for heavy equipment and construction machinery. Environmental regulations and sustainability are increasingly important, with the use of sustainable construction materials and a focus on energy efficiency. Construction risk management and safety standards

The share of e-commerce in Turkey's gross domestic product (GDP) increased year-over-year from 2019 to*2023. However, in 2024, it declined slightly to *** percent compared to the previous year.

The size of the Turkey ICT market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 9.30% during the forecast period.Information and Communication Technology includes a broad range of technologies, such as computers, telecommunications, and software applications. The sector is crucial to economic growth, social development, and innovation. The technology allows for communication and the exchange of data with information on a global scale.Turkish ICT market represents a very dynamic sector. It has grown markedly in the last couple of years due to factors like growing internet penetration, government support in terms of promotion of digitalization, and a young population well educated in technology.The strategic location on the crossroads between Asia and Europe has been quite favorable to the development of the ICT sector in Turkey. It has become a high technology and innovation center. More investments are now undertaken from within the country to attract foreign companies, by its government through several measures of policies and initiatives-investment in infrastructure, tax break support to startups and entrepreneurs. Recent developments include: In September 2022, Amazon opened its first logistics facility in Turkey to assist its neighboring partners and companies and respond to rising customer demand. According to a statement from the firm, the fulfilment facility in the Turkish city of Istanbul has been opened with an expenditure of more than TL 1.84 billion (USD 100 million). Over 1,000 employees are expected to be employed there in the first year., In February 2022, Turk Telecom formed a collaboration on a multivendor Open RAN project with Parallel Wireless and Juniper Networks to see the carrier install Open RAN technology using the RAN Intelligent Control (RIC) in Turkey. The businesses in the carrier's Innovation Center are now testing Open RAN.. Key drivers for this market are: Efforts for a Consistent Digital Transformation, Rapid Growth of Online-Business in the Country. Potential restraints include: Privacy and security concerns. Notable trends are: Rapid Digitalization Use of Emerging Technologies.

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.

Turkey TR: Population in Largest City data was reported at 14,556,884.000 Person in 2017. This records an increase from the previous number of 14,365,329.000 Person for 2016. Turkey TR: Population in Largest City data is updated yearly, averaging 6,188,484.500 Person from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 14,556,884.000 Person in 2017 and a record low of 1,453,353.000 Person in 1960. Turkey TR: Population in Largest City 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: Population and Urbanization Statistics. Population in largest city is the urban population living in the country's largest metropolitan area.; ; United Nations, World Urbanization Prospects.; ;

About this dataset

Context

The dataset presents median household incomes for various household sizes in Turkey, TX, as reported by the U.S. Census Bureau. The dataset highlights the variation in median household income with the size of the family unit, offering valuable insights into economic trends and disparities within different household sizes, aiding in data analysis and decision-making.

Key observations

• Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, only 2-person households were found in Turkey. The coefficient of variation (CV) is 53.31%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.
• In the most recent year, 2023, The smallest household size for which the bureau reported a median household income was 2-person households, with an income of $77,750. Additionally, the Census Bureau did not report a median household income for larger household sizes.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Household Sizes:

• 1-person households
• 2-person households
• 3-person households
• 4-person households
• 5-person households
• 6-person households
• 7-or-more-person households

Variables / Data Columns

• Household Size: This column showcases 7 household sizes ranging from 1-person households to 7-or-more-person households (As mentioned above).
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific household size.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Turkey median household income. You can refer the same here