Turkey GDP for 2023 was 1.118 trillion US dollars, a 23.28% increase from 2022.

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<li>Turkey GDP for 2022 was <strong>907.12 billion US dollars</strong>, a <strong>10.64% increase</strong> from 2021.</li>
<li>Turkey GDP for 2021 was <strong>819.87 billion US dollars</strong>, a <strong>13.82% increase</strong> from 2020.</li>
<li>Turkey GDP for 2020 was <strong>720.34 billion US dollars</strong>, a <strong>5.34% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

The Gross Domestic Product per capita in Turkey was last recorded at 14713.57 US dollars in 2023. The GDP per Capita in Turkey is equivalent to 117 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.

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.

Turkey is ranked 33 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Turkey improved to 33 in 2019 from 43 in 2018. This dataset provides the latest reported value for - Ease of Doing Business in Turkey - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Turkey QNB Finansbank A.S.: Net Income or Loss data was reported at 347.283 USD mn in Sep 2019. This records an increase from the previous number of 222.355 USD mn for Jun 2019. Turkey QNB Finansbank A.S.: Net Income or Loss data is updated quarterly, averaging 270.185 USD mn from Dec 2017 (Median) to Sep 2019, with 8 observations. The data reached an all-time high of 456.321 USD mn in Dec 2018 and a record low of 112.171 USD mn in Mar 2019. Turkey QNB Finansbank 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.

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 22,000 U.S. dollars in 2023. The capital city, Ankara, came third in the ranking, with a GDP per capita of 18,655 U.S. dollars.

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 Denizbank A.S.: Net Income or Loss data was reported at 180.247 USD mn in Sep 2019. This records an increase from the previous number of 139.056 USD mn for Jun 2019. Turkey Denizbank A.S.: Net Income or Loss data is updated quarterly, averaging 176.967 USD mn from Sep 2004 (Median) to Sep 2019, with 61 observations. The data reached an all-time high of 498.367 USD mn in Dec 2017 and a record low of 13.954 USD mn in Mar 2008. Turkey Denizbank 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.

MUFG Bank Turkey A.S.: Net Income or Loss data was reported at 24.454 USD mn in Sep 2019. This records an increase from the previous number of 19.785 USD mn for Jun 2019. MUFG Bank Turkey A.S.: Net Income or Loss data is updated quarterly, averaging 20.500 USD mn from Dec 2017 (Median) to Sep 2019, with 8 observations. The data reached an all-time high of 29.497 USD mn in Dec 2018 and a record low of 7.474 USD mn in Mar 2018. MUFG Bank Turkey 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.

The Gross Domestic Product per capita in Turkey was last recorded at 34251.58 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Turkey, when adjusted by Purchasing Power Parity is equivalent to 193 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.

Turkey Turkiye İS Bankası A.S.: Total Assets data was reported at 77.032 USD bn in Sep 2019. This records an increase from the previous number of 75.199 USD bn for Jun 2019. Turkey Turkiye İS Bankası A.S.: Total Assets data is updated quarterly, averaging 86.912 USD bn from Dec 2005 (Median) to Sep 2019, with 56 observations. The data reached an all-time high of 103.458 USD bn in Jun 2014 and a record low of 44.681 USD bn in Jun 2006. Turkey Turkiye İS 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 Turk Eximbank: Net Income or Loss data was reported at 185.028 USD mn in Sep 2019. This records an increase from the previous number of 109.644 USD mn for Jun 2019. Turkey Turk Eximbank: Net Income or Loss data is updated quarterly, averaging 102.453 USD mn from Dec 2005 (Median) to Sep 2019, with 54 observations. The data reached an all-time high of 334.076 USD mn in Dec 2007 and a record low of 29.971 USD mn in Mar 2011. Turkey Turk Eximbank: 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.

In 1938, the year before the Second World War, the United States had, by far, the largest economy in the world in terms of gross domestic product (GDP). The five Allied Great Powers that emerged victorious from the war, along with the three Axis Tripartite Pact countries that were ultimately defeated made up the eight largest independent economies in 1938.

When values are converted into 1990 international dollars, the U.S. GDP was over 800 billion dollars in 1938, which was more than double that of the second largest economy, the Soviet Union. Even the combined economies of the UK, its dominions, and colonies had a value of just over 680 billion 1990 dollars, showing that the United States had established itself as the world's leading economy during the interwar period (despite the Great Depression).

Interestingly, the British and Dutch colonies had larger combined GDPs than their respective metropoles, which was a key motivator for the Japanese invasion of these territories in East Asia during the war. Trade with neutral and non-belligerent countries also contributed greatly to the economic development of Allied and Axis powers throughout the war; for example, natural resources from Latin America were essential to the American war effort, while German manufacturing was often dependent on Swedish iron supplies.

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 TSKB A.S.: Total Assets data was reported at 7.136 USD bn in Sep 2019. This records a decrease from the previous number of 7.234 USD bn for Jun 2019. Turkey TSKB A.S.: Total Assets data is updated quarterly, averaging 5.826 USD bn from Dec 2005 (Median) to Sep 2019, with 54 observations. The data reached an all-time high of 7.950 USD bn in Mar 2018 and a record low of 2.384 USD bn in Mar 2006. Turkey TSKB 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.

Government Effectiveness: Percentile Rank in Turkey was reported at 41.51 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Turkey - Government Effectiveness: Percentile Rank - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

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.

In the build up to the Second World War, the United States was the major power with the highest gross domestic product (GDP) per capita in the world. In 1938, the United States also had the highest overall GDP in the world, and by a significant margin, however differences in GDP per person were much smaller. Switzerland In terms of countries that played a notable economic role in the war, the neutral country of Switzerland had the highest GDP per capita in the world. A large part of this was due to the strength of Switzerland's financial system. Most major currencies abandoned the gold standard early in the Great Depression, however the Swiss Franc remained tied to it until late 1936. This meant that it was the most stable, freely convertible currency available as the world recovered from the Depression, and other major powers of the time sold large amounts of gold to Swiss banks in order to trade internationally. Switzerland was eventually surrounded on all sides by Axis territories and lived under the constant threat of invasion in the war's early years, however Swiss strategic military planning and economic leverage made an invasion potentially more expensive than it was worth. Switzerland maintained its neutrality throughout the war, trading with both sides, although its financial involvement in the Holocaust remains a point of controversy. Why look at GDP per capita? While overall GDP is a stronger indicator of a state's ability to fund its war effort, GDP per capita is more useful in giving context to a country's economic power in relation to its size and providing an insight into living standards and wealth distribution across societies. For example, Germany and the USSR had fairly similar GDPs in 1938, whereas Germany's per capita GDP was more than double that of the Soviet Union. Germany was much more industrialized and technologically advanced than the USSR, and its citizens generally had a greater quality of life. However these factors did not guarantee victory - the fact that the Soviet Union could better withstand the war of attrition and call upon its larger population to replenish its forces greatly contributed to its eventual victory over Germany in 1945.

Germany led the ranking of source countries of greenfield foreign direct investment (FDI) projects in Turkey in 2024, at 67. It was followed by France with 40 projects.

Turkey is the 107 least corrupt nation out of 180 countries, according to the 2024 Corruption Perceptions Index reported by Transparency International. This dataset provides the latest reported value for - Turkey Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.