This statistic shows the growth of the real gross domestic product (GDP) in Turkey from 2019 to 2023, with projections up until 2029. The real GDP is also known as economic growth. In 2023, the growth of the real GDP in Turkey was at approximately 5.11 percent compared to the previous year. Turkey's economy Based on economic standards, Turkey is recognized as an emerging market and is one of the world’s newly industrialized countries, having earned a place in the Group of Twenty, which is a group consisting of the twenty most important economies in the world. Turkey’s economical significance is partially attributed to the country’s growth, especially during the recent global financial recession. While countries around the world struggled to grow, let alone maintain a balanced economy, Turkey experienced a rather high percentage of gross domestic product growth annually. Additionally, Turkey’s financial sector saw significant improvements, most notably with the country’s inflation, which reached rates lower than those prior to the financial crash and even the lowest in a decade. With a rapidly growing populace as well as having had one of the fastest growing economies in Europe and the world, Turkey managed to maintain a stable and unchanged unemployment rate over the past decade, with the exception of 2009. However, despite a significant spike in unemployment, Turkey’s competent management helped bring the total unemployment rate to single digits for the first time in many years.

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 2023, GDP in Turkey amounted to around 1,129.97 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 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;

Turkey: Economic growth forecast: The latest value from 2028 is 3.7 percent, an increase from 3.4 percent in 2027. In comparison, the world average is 3.37 percent, based on data from 183 countries. Historically, the average for Turkey from 1980 to 2028 is 4.52 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:(GDP) Gross Domestic Productper Capita data was reported at 5.779 % in 2017. This records an increase from the previous number of 1.573 % for 2016. Turkey TR: GDP: Growth:(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 3.159 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 9.475 % in 2011 and a record low of -7.356 % in 2001. Turkey TR: GDP: Growth:(GDP) Gross Domestic Productper Capita 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: Annual Growth Rate. Annual percentage growth rate of GDP per capita based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP per capita is gross domestic product divided by midyear population. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

The statistic shows the gross domestic product (GDP) per capita in Turkey from 1987 to 2023, with projections up until 2029. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a change in it is a sign of economic growth. In 2023, the GDP per capita in Turkey was estimated to be around 13,235.88 U.S. dollars. Turkey and the economic crisis Due to slight economic growth, Turkey is beginning to be recognized as an emerging market and one of the newer industrialized countries in the world. After the global financial recession, many economical aspects of the country crashed. However, Turkey implemented stimulus packages, including temporary tax cuts, and as a result, Turkey’s economy recovered from the crisis faster than many other nations. Not only is Turkey’s economic recovery is evident in an annual rise in GDP, but also in a significant plunge in unemployment since the crash as well as in a decrease of the inflation rate , which reached decade-low levels. Turkey specializes in the production of clothing, automotive, iron and steel, chemicals and agricultural products. Due to a high agricultural output rate, Turkey has been efficient in food production and is viewed as one of the most plentiful producers of fresh fruit worldwide. Agricultural production has also seen growth over the years in the country; however Turkey has slowly become less dependent on it as a main source of income.

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

Economic growth is central to economic development. When national income grows, real people benefit. While there is no known formula for stimulating economic growth, data can help policy-makers better understand their countries' economic situations and guide any work toward improvement. Data here covers measures of economic growth, such as gross domestic product (GDP) and gross national income (GNI). It also includes indicators representing factors known to be relevant to economic growth, such as capital stock, employment, investment, savings, consumption, government spending, imports, and exports.

Key information about Turkey Nominal GDP Growth

• Turkey Nominal GDP Growth was reported at 48.974 % in Dec 2024.
• This records a decrease from the previous number of 53.569 % for Sep 2024.
• Turkey Nominal GDP Growth data is updated quarterly, averaging 19.171 % from Mar 1999 to Dec 2024, with 104 observations.
• The data reached an all-time high of 120.982 % in Sep 2022 and a record low of -3.410 % in Jun 2009.
• Turkey Nominal GDP Growth 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: Nominal GDP: Y-o-Y Growth: Quarterly.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. Turkish Statistical Institute provides Nominal GDP in local currency.

Turkey gdp growth rate for 2023 was 4.52%, a 1.02% decline from 2022.

• Turkey gdp growth rate for 2022 was 5.53%, a 5.91% decline from 2021.
• Turkey gdp growth rate for 2021 was 11.44%, a 9.58% increase from 2020.
• Turkey gdp growth rate for 2020 was 1.86%, a 1.04% increase from 2019.

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP 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.

GDP growth of Turkey slumped by 7.63% from 5.5 % in 2022 to 5.1 % in 2023. Since the 515.06% surge in 2021, GDP growth sank by 55.32% in 2023. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant U.S. dollars. GDP 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.

GDP, billion currency units in Turkey, December, 2024 The most recent value is 12704.05 billion Turkish Lira as of Q4 2024, an increase compared to the previous value of 11915.59 billion Turkish Lira. Historically, the average for Turkey from Q1 1998 to Q4 2024 is 1184.11 billion Turkish Lira. The minimum of 13.45 billion Turkish Lira was recorded in Q1 1998, while the maximum of 12704.05 billion Turkish Lira was reached in Q4 2024. | TheGlobalEconomy.com

Graph and download economic data for National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Turkey (TURGDPNQDSMEI) from Q1 1998 to Q3 2023 about Turkey and GDP.

Economic growth, quarterly in Turkey, December, 2024 The most recent value is 1.7 percent as of Q4 2024, an increase compared to the previous value of -0.1 percent. Historically, the average for Turkey from Q2 1998 to Q4 2024 is 1.14 percent. The minimum of -10.7 percent was recorded in Q2 2020, while the maximum of 16.4 percent was reached in Q3 2020. | TheGlobalEconomy.com

As 2022 progressed, less Turkish lira could be bought with U.S. dollars than in previous years - decreasing by nearly five lira. By March 17, 2025, one U.S. dollar was worth approximately 36.64. The average (standardized) measure is based on the calculation of many observations throughout the period in question. It is therefore different than an annual measure at point in time, which reflects concrete values as of end of the year.

5.1 (%) in 2023. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant U.S. dollars. GDP 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.

Turkey TR: GDP: Growth: GNI data was reported at 7.185 % in 2017. This records an increase from the previous number of 3.235 % for 2016. Turkey TR: GDP: Growth: GNI data is updated yearly, averaging 5.782 % from Dec 1988 (Median) to 2017, with 30 observations. The data reached an all-time high of 11.107 % in 2011 and a record low of -6.957 % in 2001. Turkey TR: GDP: Growth: GNI 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: Annual Growth Rate. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

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.

Graph and download economic data for National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Turkey (NAEXKP01TRA657S) from 1999 to 2024 about Turkey, real, and GDP.

Reaching nearly 20 Turkish lira per one single euri, the EUR/TRY exchange rate increased well into 2022. As of March 17, 2025, the exchange rate reached approximately 39.87 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.

A törökországi bruttó hazai termék (GDP) 3 százalékkal nőtt a 2024. negyedik negyedévben az előző év azonos időszakához képest. Az oldal aktuális és múlbeli adatokat, elorejelzéseket, statisztikákat, grafikonokat és a gazdasági naptár adatait tartalmazza - Törökország - GDP éves növekedési ráta.