Turkey ranked 17/197 by economy size with a GDP of $1.36T and 66/197 by GDP per capita at $15,893. Turkey has $327B in government debt, with a debt-to-GDP ratio of 24%.
In 2024, Turkey made up 1.22% of the world's economy, compared to 0.55% in 1960.
Turkey GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $1,359,123,768,774 | 3.33% |
| 2023 | $1,141,242,864,657 | 5.05% |
| 2022 | $926,097,476,914 | 5.44% |
| 2021 | $839,938,668,172 | 11.8% |
| 2020 | $733,628,247,119 | 1.8% |
| 2019 | $775,853,144,223 | 1.3% |
| 2018 | $788,356,985,774 | 3.47% |
| 2017 | $863,874,522,365 | 7.83% |
| 2016 | $870,818,016,910 | 3.32% |
| 2015 | $865,460,050,684 | 5.81% |
| 2014 | $942,343,431,929 | 4.6% |
| 2013 | $962,167,643,589 | 8.49% |
| 2012 | $885,327,622,479 | 4.81% |
| 2011 | $844,192,507,381 | 11% |
| 2010 | $782,545,664,268 | 8.54% |
| 2009 | $653,894,449,921 | -4.88% |
| 2008 | $775,415,944,333 | 0.92% |
| 2007 | $685,228,481,017 | 5.11% |
| 2006 | $559,668,118,237 | 7.07% |
| 2005 | $508,314,210,213 | 9.11% |
| 2004 | $410,156,784,496 | 9.93% |
| 2003 | $315,392,899,922 | 5.8% |
| 2002 | $240,778,008,474 | 6.44% |
| 2001 | $202,195,080,239 | -5.46% |
| 2000 | $274,748,463,179 | 6.99% |
| 1999 | $256,673,939,248 | -3.05% |
| 1998 | $276,035,372,655 | 1.91% |
| 1997 | $263,817,553,748 | 7.36% |
| 1996 | $250,366,965,174 | 7.16% |
| 1995 | $234,699,627,004 | 7.88% |
| 1994 | $130,650,447,499 | -4.67% |
| 1993 | $180,415,757,852 | 7.65% |
| 1992 | $159,104,772,992 | 5.04% |
| 1991 | $151,034,731,544 | 0.72% |
| 1990 | $150,655,500,192 | 9.27% |
| 1989 | $107,127,191,329 | 0.29% |
| 1988 | $90,875,175,809 | 2.32% |
| 1987 | $87,190,081,680 | 9.49% |
| 1986 | $75,673,037,037 | 7.01% |
| 1985 | $67,232,758,621 | 4.24% |
| 1984 | $59,937,602,180 | 6.71% |
| 1983 | $61,803,555,556 | 4.97% |
| 1982 | $64,369,325,153 | 3.56% |
| 1981 | $71,180,180,180 | 4.86% |
| 1980 | $68,823,684,211 | -2.45% |
| 1979 | $89,616,129,032 | -0.62% |
| 1978 | $65,912,500,000 | 1.5% |
| 1977 | $58,683,333,333 | 3.41% |
| 1976 | $51,450,000,000 | 10.5% |
| 1975 | $46,042,857,143 | 7.17% |
| 1974 | $35,414,285,714 | 5.59% |
| 1973 | $26,000,000,000 | 3.26% |
| 1972 | $20,650,000,000 | 7.43% |
| 1971 | $16,166,666,667 | 5.57% |
| 1970 | $17,863,636,364 | 3.23% |
| 1969 | $19,466,666,667 | 4.08% |
| 1968 | $17,500,000,000 | 6.78% |
| 1967 | $15,644,444,444 | 4.73% |
| 1966 | $14,100,000,000 | 11.2% |
| 1965 | $11,966,666,667 | 2.82% |
| 1964 | $11,177,777,778 | 5.46% |
| 1963 | $10,355,555,556 | 9.07% |
| 1962 | $8,922,222,222 | 5.57% |
| 1961 | $7,988,888,889 | 1.16% |
| 1960 | $7,566,666,667 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/turkey | CC BY 
Turkey GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $15,893 | $45,639 |
| 2023 | $13,375 | $42,786 |
| 2022 | $10,898 | $39,564 |
| 2021 | $9,982 | $32,106 |
| 2020 | $8,798 | $29,209 |
| 2019 | $9,395 | $29,016 |
| 2018 | $9,684 | $28,640 |
| 2017 | $10,756 | $28,354 |
| 2016 | $10,984 | $26,731 |
| 2015 | $11,065 | $25,890 |
| 2014 | $12,209 | $24,193 |
| 2013 | $12,636 | $22,475 |
| 2012 | $11,777 | $20,739 |
| 2011 | $11,374 | $19,717 |
| 2010 | $10,699 | $17,466 |
| 2009 | $9,077 | $15,560 |
| 2008 | $10,913 | $16,142 |
| 2007 | $9,767 | $14,951 |
| 2006 | $7,990 | $13,555 |
| 2005 | $7,332 | $11,803 |
| 2004 | $5,980 | $10,759 |
| 2003 | $4,650 | $9,474 |
| 2002 | $3,591 | $9,154 |
| 2001 | $3,052 | $9,014 |
| 2000 | $4,199 | $9,326 |
| 1999 | $3,974 | $8,470 |
| 1998 | $4,331 | $8,763 |
| 1997 | $4,197 | $11,514 |
| 1996 | $4,041 | $10,624 |
| 1995 | $3,846 | $9,962 |
| 1994 | $2,176 | $9,253 |
| 1993 | $3,058 | $9,751 |
| 1992 | $2,744 | $8,969 |
| 1991 | $2,649 | $8,418 |
| 1990 | $2,690 | $8,208 |
| 1989 | $1,949 | - |
| 1988 | $1,686 | - |
| 1987 | $1,650 | - |
| 1986 | $1,461 | - |
| 1985 | $1,326 | - |
| 1984 | $1,209 | - |
| 1983 | $1,276 | - |
| 1982 | $1,360 | - |
| 1981 | $1,537 | - |
| 1980 | $1,516 | - |
| 1979 | $2,013 | - |
| 1978 | $1,510 | - |
| 1977 | $1,372 | - |
| 1976 | $1,228 | - |
| 1975 | $1,122 | - |
| 1974 | $881 | - |
| 1973 | $661 | - |
| 1972 | $537 | - |
| 1971 | $431 | - |
| 1970 | $488 | - |
| 1969 | $544 | - |
| 1968 | $501 | - |
| 1967 | $459 | - |
| 1966 | $425 | - |
| 1965 | $370 | - |
| 1964 | $354 | - |
| 1963 | $337 | - |
| 1962 | $298.2 | - |
| 1961 | $274.4 | - |
| 1960 | $267.1 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/turkey | CC BY
Turkey has a GDP per capita of $15,893, ranking 66/197, a GDP per capita based on purchasing power parity (PPP) of $45,639, ranking 51/197, and a median annual after tax income of $10,928, ranking 72/197.
Turkey GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 17 | 62 | 46 |
| 2023 | 18 | 70 | 48 |
| 2022 | 19 | 75 | 51 |
| 2021 | 19 | 74 | 51 |
| 2020 | 20 | 73 | 51 |
| 2019 | 19 | 78 | 55 |
| 2018 | 19 | 76 | 54 |
| 2017 | 17 | 67 | 52 |
| 2016 | 17 | 64 | 52 |
| 2015 | 16 | 64 | 52 |
| 2014 | 16 | 67 | 57 |
| 2013 | 16 | 65 | 57 |
| 2012 | 17 | 68 | 61 |
| 2011 | 18 | 64 | 62 |
| 2010 | 17 | 64 | 66 |
| 2009 | 17 | 64 | 68 |
| 2008 | 17 | 62 | 68 |
| 2007 | 17 | 63 | 68 |
| 2006 | 17 | 63 | 69 |
| 2005 | 17 | 61 | 71 |
| 2004 | 17 | 61 | 73 |
| 2003 | 21 | 67 | 75 |
| 2002 | 21 | 75 | 75 |
| 2001 | 22 | 78 | 73 |
| 2000 | 19 | 65 | 67 |
| 1999 | 21 | 66 | 68 |
| 1998 | 19 | 62 | 62 |
| 1997 | 21 | 63 | 49 |
| 1996 | 22 | 64 | 49 |
| 1995 | 23 | 65 | 48 |
| 1994 | 28 | 83 | 51 |
| 1993 | 23 | 64 | 47 |
| 1992 | 23 | 69 | 50 |
| 1991 | 23 | 69 | 52 |
| 1990 | 23 | 66 | 54 |
| 1989 | 26 | 73 | - |
| 1988 | 28 | 78 | - |
| 1987 | 27 | 75 | - |
| 1986 | 27 | 77 | - |
| 1985 | 25 | 78 | - |
| 1984 | 28 | 83 | - |
| 1983 | 27 | 81 | - |
| 1982 | 27 | 80 | - |
| 1981 | 25 | 76 | - |
| 1980 | 25 | 73 | - |
| 1979 | 20 | 53 | - |
| 1978 | 21 | 60 | - |
| 1977 | 20 | 59 | - |
| 1976 | 20 | 59 | - |
| 1975 | 21 | 58 | - |
| 1974 | 22 | 64 | - |
| 1973 | 23 | 64 | - |
| 1972 | 22 | 61 | - |
| 1971 | 22 | 67 | - |
| 1970 | 20 | 57 | - |
| 1969 | 19 | 43 | - |
| 1968 | 19 | 43 | - |
| 1967 | 20 | 45 | - |
| 1966 | 20 | 46 | - |
| 1965 | 20 | 48 | - |
| 1964 | 20 | 45 | - |
| 1963 | 20 | 46 | - |
| 1962 | 20 | 49 | - |
| 1961 | 22 | 53 | - |
| 1960 | 21 | 51 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/turkey | CC BY
Compared with 2000, in 2024 Turkey is ranked 17th out of 182 by GDP (up from 19th), 62nd by GDP per capita (up from 65th), and 46th by GDP per capita PPP (up from 67th).
Economic indicators
Turkey
|
Rank | |
|---|---|---|
| Gross domestic product |
$1.36T
2024 |
17/197 |
| GDP growth |
3.33%
2023-2024 |
99/194 |
| GDP per capita |
$15,893
2024 |
66/197 |
| GDP per capita, PPP |
$45,639
2024 |
51/197 |
| Government debt |
$327B
2024 |
28/185 |
| Debt-to-GDP ratio |
24%
2024 |
170/185 |
| Government debt per person |
$3,820
2024 |
92/185 |
| Average annual personal income after taxes |
$10,928
2026 |
72/197 |
| Listed domestic companies |
551
2024 |
15/103 |
| Market capitalization of domestic companies |
$379B
2024 |
25/100 |
| Number of millionaires |
60,787
2025 |
32/35 |
| Millionaire frequency |
1 in 1,004
2025 |
33/35 |
| Number of billionaires |
32
2025 |
20/78 |
| Billionaire frequency |
1 in 1,907,325
2025 |
43/78 |
| Income share by richest 10% |
35.2%
2022 |
15/169 |
| Income share by poorest 10% |
2.1%
2022 |
136/169 |
| Government expenditure, % of GDP |
32.6%
2024 |
84/195 |
| Consumer prices inflation |
58.5%
2023-2024 |
5/195 |
| Central bank interest rate |
38%
2025 |
2/106 |
| Unemployment rate |
8.71%
2024 |
45/196 |
| Population |
86002379
|
18/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 32.6% | 24% | -4.57% |
| 2023 | 32.5% | 28.7% | -5.22% |
| 2022 | 26.8% | 30.2% | -1.1% |
| 2021 | 30.5% | 39.4% | -2.98% |
| 2020 | 34% | 38.7% | -4.64% |
| 2019 | 34.8% | 31.8% | -4.69% |
| 2018 | 33.9% | 29.5% | -3.1% |
| 2017 | 32.4% | 27.6% | -1.87% |
| 2016 | 33.8% | 27.7% | -1.68% |
| 2015 | 32.4% | 27.1% | -0.51% |
| 2014 | 32.5% | 28.2% | -0.96% |
| 2013 | 33.5% | 30.8% | -1.21% |
| 2012 | 34% | 32.1% | -1.78% |
| 2011 | 32.6% | 35.7% | -0.35% |
| 2010 | 35.2% | 39.2% | -2.99% |
| 2009 | 37% | 42.9% | -5.14% |
| 2008 | 33.5% | 37.5% | -2.13% |
| 2007 | 32.7% | 37.5% | -1.37% |
| 2006 | 33.4% | 44% | -0.22% |
| 2005 | 32% | 50% | -0.75% |
| 2004 | 34.5% | 57% | -4.11% |
| 2003 | 38.3% | 65% | -7.55% |
| 2002 | 40.9% | 71.3% | -11.3% |
| 2001 | 43.9% | 75.3% | -11.6% |
| 2000 | 39.4% | 51.2% | -8.36% |
| 1999 | 32.7% | 52.1% | -13.8% |
| 1998 | 27.9% | 36.5% | -9.84% |
| 1997 | 26.4% | 32.5% | -10.1% |
| 1996 | 24.5% | 35.5% | -10.7% |
| 1995 | 19.4% | 34.6% | -5.95% |
| 1994 | 20.5% | 39.2% | -6.04% |
| 1993 | 22% | 29.1% | -8.84% |
| 1992 | 18.6% | 29.2% | -6.73% |
| 1991 | 18.2% | 28.4% | -6.86% |
| 1990 | 14.1% | 25.8% | -3.65% |
| 1989 | 13.8% | 33.5% | -3.87% |
| 1988 | 12.9% | 38.6% | -3.2% |
| 1987 | 13.3% | 40.3% | -3.47% |
| 1986 | 12.1% | 38.2% | -2.43% |
| 1985 | 18% | 44.3% | -5.84% |
| 1984 | 14.1% | 42.6% | -3.77% |
| 1983 | 14.9% | 32.7% | -1.45% |
| 1982 | 19.2% | 33.4% | -1.61% |
| 1981 | 24% | 32% | -1.5% |
| 1980 | 25.5% | 22.4% | -3.67% |
| 1979 | 28.3% | 23.6% | -3.06% |
| 1978 | 27.6% | 25.8% | -1.83% |
| 1977 | 27.8% | 24% | -5.1% |
| 1976 | 23.3% | 20.4% | -0.6% |
| 1975 | 22% | 20.2% | -0.19% |
| 1974 | 19% | 19% | -1.02% |
| 1973 | 21.8% | 23.1% | -0.98% |
| 1972 | 21.9% | 30.1% | -0.13% |
| 1971 | 24.8% | 34.4% | -3.05% |
| 1970 | 22.7% | 39.8% | 0.14% |
| 1969 | 20.5% | 33.2% | -1.45% |
| 1968 | 19% | 33.2% | -0.62% |
| 1967 | 20.1% | 33.3% | 0.1% |
| 1966 | 18.9% | 33.4% | -0.66% |
| 1965 | 19% | 33.4% | -1.18% |
| 1964 | 18.9% | 25.7% | -0.84% |
| 1963 | 17.5% | 27.6% | 0% |
| 1962 | 15.7% | 28.8% | -0.16% |
| 1961 | 22.9% | 28.9% | -1% |
| 1960 | 15.6% | 19.9% | -0.83% |
| 1959 | 15.3% | 18.3% | -0.78% |
| 1958 | 14.2% | 21.2% | -0.45% |
| 1957 | 14.1% | 15.1% | -0.66% |
| 1956 | 15.8% | 17.5% | -0.84% |
| 1955 | 17.3% | 18.4% | -0.85% |
| 1954 | 16.1% | 20.4% | -1.12% |
| 1953 | 14.7% | - | -0.12% |
| 1952 | 16.8% | - | -0.1% |
| 1951 | 13.6% | - | 0.48% |
| 1950 | 15.2% | 26.4% | -0.53% |
| 1949 | 22.6% | 30.9% | 0.81% |
| 1948 | 17.9% | 31.2% | 0.84% |
| 1947 | - | - | - |
| 1946 | - | - | - |
| 1945 | 10.5% | 25.9% | 1.01% |
| 1944 | - | - | - |
| 1943 | 18.5% | 25.3% | 0.22% |
| 1942 | - | - | - |
| 1941 | - | - | - |
| 1940 | - | - | - |
| 1939 | - | - | - |
| 1938 | 18.9% | 33.2% | 1.18% |
| 1937 | - | - | - |
| 1936 | 18.9% | 38% | 1.43% |
Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1936–1999, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20).
GeoRank.org/economy/turkey | CC BY
This chart shows Turkey's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 50 years, Turkey recorded a fiscal deficit in 50 of them, with an average annual deficit equal to 4.29% of GDP. In 2024, government spending reached $444B (32.6% of GDP), with a deficit of 4.57%.
The national debt reached $327B, ranking 28th out of 185 countries by total size, with a debt-to-GDP ratio of 24%, ranking 170th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 58.5% |
| 2023 | 53.9% |
| 2022 | 72.3% |
| 2021 | 19.6% |
| 2020 | 12.3% |
| 2019 | 15.2% |
| 2018 | 16.3% |
| 2017 | 11.1% |
| 2016 | 7.78% |
| 2015 | 7.67% |
| 2014 | 8.85% |
| 2013 | 7.49% |
| 2012 | 8.89% |
| 2011 | 6.47% |
| 2010 | 8.57% |
| 2009 | 6.25% |
| 2008 | 10.4% |
| 2007 | 8.76% |
| 2006 | 9.6% |
| 2005 | 8.18% |
| 2004 | 8.6% |
| 2003 | 21.6% |
| 2002 | 45% |
| 2001 | 54.4% |
| 2000 | 54.9% |
| 1999 | 64.9% |
| 1998 | 84.6% |
| 1997 | 85.7% |
| 1996 | 80.4% |
| 1995 | 89.1% |
| 1994 | 105.2% |
| 1993 | 66.1% |
| 1992 | 70.1% |
| 1991 | 66% |
| 1990 | 60.3% |
| 1989 | 63.3% |
| 1988 | 68.8% |
| 1987 | 38.9% |
| 1986 | 34.6% |
| 1985 | 45% |
| 1984 | 48.4% |
| 1983 | 31.4% |
| 1982 | 29.1% |
| 1981 | 37.6% |
| 1980 | 94.3% |
| 1979 | 63.5% |
| 1978 | 61.9% |
| 1977 | 26% |
| 1976 | 17.5% |
| 1975 | 21.2% |
| 1974 | 23.9% |
| 1973 | 13.9% |
| 1972 | 15.4% |
| 1971 | 19% |
| 1970 | 7.92% |
| 1969 | 4.92% |
| 1968 | 6.05% |
| 1967 | 14% |
| 1966 | 8.47% |
| 1965 | 4.56% |
| 1964 | 1.12% |
| 1963 | 6.36% |
| 1962 | 3.89% |
| 1961 | 3.17% |
| 1960 | 5.66% |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/turkey | CC BY
Over the past 20 years, Turkey has had an average annual inflation rate of 17.9%. In 2024, inflation was 58.5%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Turkey
|
Rank | |
|---|---|---|
|
Current account balance
|
-$10.2B
2024 |
176/190 |
| Current account balance, % of GDP |
-0.75%
2024 |
86/190 |
| Goods imports |
$314B
2024 |
20/189 |
| Goods exports |
$257B
2024 |
27/189 |
| Service imports |
$53.3B
2024 |
32/189 |
| Service exports |
$115B
2024 |
22/189 |
| Imports of goods and services, % of GDP |
27%
2024 |
138/181 |
| Exports of goods and services, % of GDP |
27.6%
2024 |
123/193 |
Turkey top 10 trading partners
Turkey's biggest trading partner accounting for 9.02% of all exports and imports is Russia, with a trade balance between the two of -$35.5B: Turkey exports $8.56B worth of goods and services to Russia and imports $44B.
Below is the list of the top 10 trade partners of Turkey.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Russia
|
$52.6B | 9.02% | $8.56B | $44B | Machinery & equipment | Raw materials & minerals |
| 2 |
China
|
$48.3B | 8.29% | $3.39B | $44.9B | Raw materials & minerals | Machinery & equipment |
| 3 |
Germany
|
$47.5B | 8.15% | $20.4B | $27.1B | Machinery & equipment | Machinery & equipment |
| 4 |
United States
|
$32.6B | 5.59% | $16.4B | $16.2B | Machinery & equipment | Machinery & equipment |
| 5 |
Italy
|
$32.3B | 5.53% | $13B | $19.3B | Machinery & equipment | Machinery & equipment |
| 6 |
France
|
$22.5B | 3.87% | $10B | $12.5B | Machinery & equipment | Machinery & equipment |
| 7 |
United Kingdom
|
$22.1B | 3.8% | $15.3B | $6.85B | Machinery & equipment | Machinery & equipment |
| 8 |
Spain
|
$19.1B | 3.28% | $9.78B | $9.36B | Machinery & equipment | Machinery & equipment |
| 9 |
UAE
|
$15.7B | 2.68% | $8.29B | $7.36B | Precious metals & jewellery | Precious metals & jewellery |
| 10 |
Iraq
|
$14.8B | 2.54% | $13B | $1.83B | Processed food, beverages & tobacco | Raw materials & minerals |
Top 10 exports
|
Turkey
|
Rank | |
|---|---|---|
| Transport & tourism services | $82.9B | 9/188 |
| Machinery & equipment | $81.7B | 24/193 |
| Textiles & consumer goods | $42.7B | 10/193 |
| Raw materials & minerals | $31.4B | 36/193 |
| Metals | $30.1B | 15/192 |
| Chemicals & pharma | $21B | 27/193 |
| Processed food, beverages & tobacco | $16.1B | 18/192 |
| Precious metals & jewellery | $13.1B | 20/190 |
| Raw agricultural goods | $12.7B | 17/193 |
| Business & finance services | $8.68B | 34/188 |
Top 10 imports
|
Turkey
|
Rank | |
|---|---|---|
| Machinery & equipment | $111B | 24/193 |
| Raw materials & minerals | $76.1B | 13/193 |
| Metals | $43.1B | 9/193 |
| Chemicals & pharma | $40.4B | 19/193 |
| Precious metals & jewellery | $25.5B | 9/193 |
| Transport & tourism services | $25.2B | 30/188 |
| Textiles & consumer goods | $19.5B | 21/193 |
| Business & finance services | $12.6B | 34/188 |
| Processed food, beverages & tobacco | $10.8B | 22/193 |
| Raw agricultural goods | $9.08B | 22/193 |
Economic freedom indices
|
Turkey
|
Rank | |
|---|---|---|
| Economic freedom | 55 | 129/197 |
| Property rights | 36.4 | 132/182 |
| Government integrity | 35.3 | 116/182 |
| Judicial effectiveness | 23.5 | 143/182 |
| Tax burden | 72 | 136/182 |
| Government spending | 71.8 | 98/180 |
| Fiscal health | 77.8 | 84/181 |
| Business freedom | 61.6 | 102/182 |
| Labor freedom | 44.3 | 160/182 |
| Monetary freedom | 36.5 | 173/180 |
| Trade freedom | 71 | 91/181 |
| Investment freedom | 70 | 46/181 |
| Financial freedom | 60 | 67/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 55 | 23.5 | 72 | 71.8 | 77.8 |
| 2025 | 56.1 | 23.8 | 72.2 | 71.9 | 82.3 |
| 2024 | 56.2 | 24.4 | 72.5 | 71 | 77.5 |
| 2023 | 56.9 | 37.1 | 73 | 66.1 | 63 |
| 2022 | 56.9 | 25.6 | 74.7 | 63.8 | 59.2 |
| 2021 | 64 | 58.6 | 73.2 | 64.5 | 75.8 |
| 2020 | 64.4 | 53.7 | 76.7 | 64.1 | 86.1 |
| 2019 | 64.6 | 49.8 | 76.4 | 65.1 | 92.2 |
| 2018 | 65.4 | 54.5 | 74.7 | 68.1 | 93.6 |
| 2017 | 65.2 | 52.5 | 75.5 | 57.7 | 95.7 |
| 2016 | 62.1 | - | 75.2 | 55.6 | - |
| 2015 | 63.2 | - | 76.1 | 57.6 | - |
| 2014 | 64.9 | - | 77.5 | 63.5 | - |
| 2013 | 62.9 | - | 77 | 64.9 | - |
| 2012 | 62.5 | - | 77.7 | 58.5 | - |
| 2011 | 64.2 | - | 78.2 | 83.6 | - |
| 2010 | 63.8 | - | 78.1 | 82.9 | - |
| 2009 | 61.6 | - | 73.2 | 83.4 | - |
| 2008 | 59.9 | - | 77.7 | 68.3 | - |
| 2007 | 57.4 | - | 69.1 | 62.4 | - |
| 2006 | 57 | - | 68 | 68.1 | - |
| 2005 | 50.6 | - | 65.3 | 54.4 | - |
| 2004 | 52.8 | - | 60.8 | 56.9 | - |
| 2003 | 51.9 | - | 64.6 | 45 | - |
| 2002 | 54.2 | - | 65.2 | 58.9 | - |
| 2001 | 60.6 | - | 66.9 | 73 | - |
| 2000 | 63.4 | - | 67.2 | 82.7 | - |
| 1999 | 59.2 | - | 57 | 57.1 | - |
| 1998 | 60.9 | - | 58.4 | 68.5 | - |
| 1997 | 60.8 | - | 57.3 | 61.8 | - |
| 1996 | 56.7 | - | 44.3 | 57.1 | - |
| 1995 | 58.4 | - | 44.5 | 63.3 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/turkey | CC BY
Turkey is ranked 115/174 for economic freedom with a score of 55, compared to 93/162 and a score of 57 in 2006.
Other economic metrics
|
Turkey
|
Rank | |
|---|---|---|
| Services, % of GDP |
57.5%
2024 |
91/191 |
| Industry, % of GDP |
25.5%
2024 |
80/194 |
| Agriculture, forestry, and fishing, % of GDP |
5.82%
2024 |
101/193 |
|
GNI, Atlas method
|
$1.15T
2024 |
18/194 |
| GNI per capita, PPP |
$45,110
2024 |
48/191 |
| Total reserves including gold |
$155B
2024 |
21/177 |
|
Net foreign direct investment
|
-$5.13B
2024 |
166/189 |
|
Net inflows of foreign direct investment
|
$11.7B
2024 |
36/193 |
|
Net outflows of foreign direct investment
|
$6.61B
2024 |
33/193 |
|
Servicing debt to the IMF, % of GNI
|
6.67%
2024 |
33/121 |
| Poverty at national poverty lines |
13.6%
2023 |
140/176 |
|
Gross capital formation, % of GDP
|
30.7%
2024 |
26/178 |
Compare Turkey vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/turkey | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Public Finances in Modern History (1936–1999, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2023–2024, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.