Key information about Turkey External Debt: % of GDP

• Turkey External Debt accounted for 45.1 % of the country's Nominal GDP in 2023, compared with the ratio of 50.9 % in the previous year.
• Turkey External Debt: % of Nominal GDP data is updated yearly, available from Dec 1989 to Dec 2023.
• The data reached an all-time high of 59.6 % in Dec 2020 and a record low of 26.1 % in Dec 1990.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and quarterly Nominal GDP. Republic of Turkey, Ministry of Treasury and Finance provides External Debt 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. External Debt as % of Nominal GDP prior to 1998 is sourced directly from Republic of Turkey, Ministry of Treasury and Finance.


Related information about Turkey External Debt: % of GDP

• In the latest reports of Turkey, Current Account recorded a surplus of 1.9 USD bn in Oct 2024.
• Foreign Direct Investment (FDI) increased by 770.0 USD mn in Oct 2024.
• Turkey Direct Investment Abroad expanded by 974.0 USD mn in Oct 2024.
• Its Foreign Portfolio Investment increased by 9.3 USD bn in Sep 2024.
• The country's External Debt reached 525,799.9 in Sep 2024.
• The country's Nominal GDP was reported at 245.5 USD bn in Mar 2023.

Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Data are in current U.S. dollars.

Key information about Turkey External Debt

• Turkey External Debt reached 525.8 USD bn in Sep 2024, compared with 512.8 USD bn in the previous quarter.
• Turkey External Debt: USD mn data is updated quarterly, available from Dec 1989 to Sep 2024.
• The data reached an all-time high of 525.8 USD bn in Sep 2024 and a record low of 43.9 USD bn in Dec 1989.

Related information about Turkey External Debt

• In the latest reports of Turkey, Current Account recorded a deficit of 4.7 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) increased by 2.0 USD bn in Dec 2024.
• Turkey Direct Investment Abroad expanded by 557.0 USD mn in Nov 2024.
• Its Foreign Portfolio Investment increased by 9.3 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 245.5 USD bn in Mar 2023.

Turkey: External debt, percent of Gross National Income: The latest value from 2022 is 51.05 percent, a decline from 54.07 percent in 2021. In comparison, the world average is 56.76 percent, based on data from 113 countries. Historically, the average for Turkey from 1970 to 2022 is 38.11 percent. The minimum value, 11.03 percent, was reached in 1975 while the maximum of 60.33 percent was recorded in 2020.

Key information about Turkey External Debt: Short Term: % of GDP

• Turkey External Debt: Short Term accounted for 15.9 % of the country's Nominal GDP in 2023, compared with the ratio of 16.6 % in the previous year.
• Turkey External Debt: Short Term: % of Nominal GDP data is updated yearly, available from 1989 to 2023.
• The data reached an all-time high of 16.6 % in 2022 and a record low of 5.4 % in 1989.

CEIC calculates Short Term External Debt as % of Nominal GDP from annual Short Term External Debt and quarterly Nominal GDP. Republic of Turkey, Ministry of Treasury and Finance provides Short Term External Debt 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.


Related information about Turkey External Debt: Short Term: % of GDP

• In the latest reports of Turkey, Current Account recorded a surplus of 1.9 USD bn in Oct 2024.
• Foreign Direct Investment (FDI) increased by 770.0 USD mn in Oct 2024.
• Turkey Direct Investment Abroad expanded by 974.0 USD mn in Oct 2024.
• Its Foreign Portfolio Investment increased by 9.3 USD bn in Sep 2024.
• Turkey External Debt: Short Term value stood at 177.9 USD bn in Dec 2023.
• The country's Nominal GDP was reported at 245.5 USD bn in Mar 2023.

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

Debt statistics provide a detailed picture of debt stocks and flows of developing countries. Data presented as part of the Quarterly External Debt Statistics takes a closer look at the external debt of high-income countries and emerging markets to enable a more complete understanding of global financial flows. The Quarterly Public Sector Debt database provides further data on public sector valuation methods, debt instruments, and clearly defined tiers of debt for central, state and local government, as well as extra-budgetary agencies and funds. Data are gathered from national statistical organizations and central banks as well as by various major multilateral institutions and World Bank staff.

Turkey: Short-term debt, percent of total external debt: The latest value from 2023 is 34.82 percent, an increase from 32.45 percent in 2022. In comparison, the world average is 11.22 percent, based on data from 118 countries. Historically, the average for Turkey from 1970 to 2023 is 23.73 percent. The minimum value, 8.98 percent, was reached in 1982 while the maximum of 53.2 percent was recorded in 1977.

Turkey TR: External Debt: Forgiveness or Reduction data was reported at 0.000 USD mn in 2017. This stayed constant from the previous number of 0.000 USD mn for 2016. Turkey TR: External Debt: Forgiveness or Reduction data is updated yearly, averaging 0.000 USD mn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 0.000 USD mn in 2017 and a record low of -13.614 USD mn in 2011. Turkey TR: External Debt: Forgiveness or Reduction 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: External Debt: Arrears and Reschedulings. Debt forgiveness or reduction shows the change in debt stock due to debt forgiveness or reduction. It is derived by subtracting debt forgiven and debt stock reduction from debt buyback. Data are in current U.S. dollars.; ; World Bank, International Debt Statistics.; Sum;

External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) in Turkey was reported at 149369407397 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Turkey - External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Present value of external debt (current US$) in Turkey was reported at 151844294034 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Turkey - Present value of external debt - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Turkey External Debt: BR: LT: PS: NF: Others data was reported at 0.000 USD mn in Jun 2018. This stayed constant from the previous number of 0.000 USD mn for Mar 2018. Turkey External Debt: BR: LT: PS: NF: Others data is updated quarterly, averaging 147.980 USD mn from Dec 1989 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 263.867 USD mn in Dec 2003 and a record low of 0.000 USD mn in Jun 2018. Turkey External Debt: BR: LT: PS: NF: Others data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB020: External Debt Outstanding: by Borrower.

Turkey External Debt: CB: Short Term data was reported at 81.000 USD mn in Jun 2018. This records a decrease from the previous number of 93.000 USD mn for Mar 2018. Turkey External Debt: CB: Short Term data is updated quarterly, averaging 905.000 USD mn from Dec 1989 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 3.287 USD bn in Dec 2004 and a record low of 81.000 USD mn in Jun 2018. Turkey External Debt: CB: Short Term data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB012: External Debt Position.

Turkey External Debt: BR: LT: PS: General Govt (GG) data was reported at 92.700 USD bn in Jun 2018. This records a decrease from the previous number of 95.216 USD bn for Mar 2018. Turkey External Debt: BR: LT: PS: General Govt (GG) data is updated quarterly, averaging 65.147 USD bn from Dec 1989 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 95.216 USD bn in Mar 2018 and a record low of 24.726 USD bn in Dec 1989. Turkey External Debt: BR: LT: PS: General Govt (GG) data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB020: External Debt Outstanding: by Borrower.

Turkey External Debt: Lender: LT: Loan: OC: MO: Others data was reported at 31.983 USD bn in Jun 2018. This records a decrease from the previous number of 33.369 USD bn for Mar 2018. Turkey External Debt: Lender: LT: Loan: OC: MO: Others data is updated quarterly, averaging 4.821 USD bn from Dec 1989 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 33.369 USD bn in Mar 2018 and a record low of 3.032 USD bn in Mar 1990. Turkey External Debt: Lender: LT: Loan: OC: MO: Others data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB021: External Debt Outstanding: by Lender.

Turkey External Debt: BR: LT: Monetary Authority (MA) data was reported at 497.400 USD mn in Jun 2018. This records a decrease from the previous number of 559.700 USD mn for Mar 2018. Turkey External Debt: BR: LT: Monetary Authority (MA) data is updated quarterly, averaging 10.397 USD bn from Dec 1989 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 23.599 USD bn in Dec 2001 and a record low of 497.400 USD mn in Jun 2018. Turkey External Debt: BR: LT: Monetary Authority (MA) data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB020: External Debt Outstanding: by Borrower.

Turkey External Debt: PB: LE: ST: LO: PC: Monetary Institutions data was reported at 37.094 USD bn in Jun 2018. This records a decrease from the previous number of 39.367 USD bn for Mar 2018. Turkey External Debt: PB: LE: ST: LO: PC: Monetary Institutions data is updated quarterly, averaging 26.308 USD bn from Mar 2002 (Median) to Jun 2018, with 66 observations. The data reached an all-time high of 68.930 USD bn in Dec 2013 and a record low of 4.492 USD bn in Sep 2002. Turkey External Debt: PB: LE: ST: LO: PC: Monetary Institutions data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB017: External Debt Outstanding: Private Sector.

Turkey TR: External Debt: INT: Interest Payments: Short-Term data was reported at 3.443 USD bn in 2016. This records a decrease from the previous number of 3.549 USD bn for 2015. Turkey TR: External Debt: INT: Interest Payments: Short-Term data is updated yearly, averaging 670.371 USD mn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 6.727 USD bn in 2014 and a record low of 0.000 USD mn in 1974. Turkey TR: External Debt: INT: Interest Payments: Short-Term 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: External Debt: Disbursements and Interest Payment. Interest payments on short-term debt are actual amounts of interest paid by the borrower in currency, goods, or services in the year specified. This item includes interest paid on long-term debt, IMF charges, and interest paid on short-term debt. Short-term external debt is defined as debt that has an original maturity of one year or less. Available data permit no distinction between public and private nonguaranteed short-term debt. Data are in current U.S. dollars.; ; World Bank, International Debt Statistics.; Sum;

Turkey TR: External Debt: DIS: PPG: Official Creditors data was reported at 4.103 USD bn in 2017. This records an increase from the previous number of 3.258 USD bn for 2016. Turkey TR: External Debt: DIS: PPG: Official Creditors data is updated yearly, averaging 1.553 USD bn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 5.856 USD bn in 2010 and a record low of 266.985 USD mn in 1974. Turkey TR: External Debt: DIS: PPG: Official Creditors 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: External Debt: Disbursements and Interest Payment. Public and publicly guaranteed debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Disbursements are drawings by the borrower on loan commitments during the year specified. Data are in current U.S. dollars.; ; World Bank, International Debt Statistics.; Sum;

Turkey External Debt: PS: LE: LT: LO: PC: Non Monetary Institutions data was reported at 0.000 USD mn in Mar 2018. This stayed constant from the previous number of 0.000 USD mn for Dec 2017. Turkey External Debt: PS: LE: LT: LO: PC: Non Monetary Institutions data is updated quarterly, averaging 353.980 USD mn from Mar 1986 (Median) to Mar 2018, with 129 observations. The data reached an all-time high of 1.567 USD bn in Dec 1987 and a record low of 0.000 USD mn in Mar 2018. Turkey External Debt: PS: LE: LT: LO: PC: Non Monetary Institutions data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB016: External Debt Outstanding: Public Sector.

Turkey External Debt: Annual: JPY: Long Term data was reported at 9.047 USD bn in 2017. This records an increase from the previous number of 8.456 USD bn for 2016. Turkey External Debt: Annual: JPY: Long Term data is updated yearly, averaging 6.958 USD bn from Dec 1996 (Median) to 2017, with 22 observations. The data reached an all-time high of 10.980 USD bn in 1996 and a record low of 2.529 USD bn in 2006. Turkey External Debt: Annual: JPY: Long Term data remains active status in CEIC and is reported by Turkish Treasury. The data is categorized under Global Database’s Turkey – Table TR.JB022: External Debt Outstanding: by Currency Composition.