The Gross Domestic Product (GDP) in Turkey expanded 2 percent in the first 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 June 27, 2025, one U.S. dollar was worth approximately 39.54. 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.

Turkey: Economic freedom, overall index (0-100): The latest value from 2024 is 56 index points, a decline from 57 index points in 2023. In comparison, the world average is 59 index points, based on data from 174 countries. Historically, the average for Turkey from 1995 to 2024 is 60 index points. The minimum value, 51 index points, was reached in 2005 while the maximum of 65 index points was recorded in 2014.

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

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.

Economic Optimism Index in Turkey remained unchanged at 96.70 points in June. This dataset provides the latest reported value for - Turkey Economic Optimism Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Reaching nearly 20 Turkish lira per one single euri, the EUR/TRY exchange rate increased well into 2022. As of May 2, 2025, the exchange rate reached approximately 43.60 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.

Turkey TR: Potential Output of Total Economy data was reported at 73,003.350 TRY bn in 2026. This records an increase from the previous number of 58,934.315 TRY bn for 2025. Turkey TR: Potential Output of Total Economy data is updated yearly, averaging 1,579.997 TRY bn from Dec 1998 (Median) to 2026, with 29 observations. The data reached an all-time high of 73,003.350 TRY bn in 2026 and a record low of 70.238 TRY bn in 1998. Turkey TR: Potential Output of Total Economy 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.EO: GDP: Potential Output and Output Gap: Forecast: OECD Member: Annual. GDPTR - Potential output, nominal value OECD calculation, see OECD Economic Outlook database documentation

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.

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;

The gross national savings rate in Turkey was forecast to continuously increase between 2024 and 2029 by in total 1.8 percentage points. After the sixth consecutive increasing year, the savings rate is estimated to reach 22.68 percent and therefore a new peak in 2029. The savings rate here refers to the gross domestic saving by the state, private households, and corporations and is shown as a percentage of total gross domestic product (GDP).The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the gross national savings rate in countries like Cyprus and Croatia.

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.

Leading Economic Index Turkey increased 2.53 percent in August of 2024 over the same month in the previous year. This dataset provides the latest reported value for - Turkey Leading Economic Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Turkey: Economic globalization index (0-100): The latest value from 2022 is 55.34 points, an increase from 54 points in 2021. In comparison, the world average is 59.16 points, based on data from 184 countries. Historically, the average for Turkey from 1970 to 2022 is 45.08 points. The minimum value, 27.54 points, was reached in 1970 while the maximum of 56.32 points was recorded in 2001.

Turkey TR: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data was reported at 17.511 % in 2017. This records an increase from the previous number of 16.599 % for 2016. Turkey TR: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 17.080 % from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 23.122 % in 1989 and a record low of 12.775 % in 1960. Turkey TR: GDP: % of GDP: Gross Value Added: Industry: Manufacturing 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: Share of GDP. Manufacturing refers to industries belonging to ISIC divisions 15-37. 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 origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

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.

• 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.

The Gross Domestic Product (GDP) in Turkey expanded 1 percent in the first 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 Sentiment Index (ESI): sa data was reported at 65.700 % Point in Nov 2018. This records an increase from the previous number of 59.100 % Point for Oct 2018. Turkey Economic Sentiment Index (ESI): sa data is updated monthly, averaging 101.700 % Point from Jan 2007 (Median) to Nov 2018, with 143 observations. The data reached an all-time high of 115.900 % Point in Jun 2011 and a record low of 59.100 % Point in Oct 2018. Turkey Economic Sentiment Index (ESI): sa data remains active status in CEIC and is reported by European Commission's Directorate-General for Economic and Financial Affairs. The data is categorized under Global Database’s Turkey – Table TR.S007: Economic Sentiment Index: Seasonally Adjusted.

Graph and download economic data for Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Turkiye (LCEAMN01TRA661N) from 1988 to 2023 about Turkey, compensation, earnings, hours, and manufacturing.

Contains data from the World Bank's data portal covering the following topics which also exist as individual datasets on HDX: Agriculture and Rural Development, Aid Effectiveness, Economy and Growth, Education, Energy and Mining, Environment, Financial Sector, Health, Infrastructure, Social Protection and Labor, Poverty, Private Sector, Public Sector, Science and Technology, Social Development, Urban Development, Gender, Millenium development goals, Climate Change, External Debt, Trade.