Gross domestic product (GDP) growth in Turkey 2024

This statistic shows the growth of the real gross domestic product (GDP) in Turkey from 2014 to 2018, with projections up until 2024. The real GDP is also known as economic growth. In 2018, the growth of the real GDP in Turkey was at approximately 2.83 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.

Turkey: Growth of the real gross domestic product (GDP) from 2014 to 2024

GDP growth compared to previous year
2024*3.5%
2023*3.47%
2022*3.03%
2021*3%
2020*2.99%
2019*0.25%
20182.83%
20177.47%
20163.18%
20156.09%
20145.17%
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Source

Release date

October 2019

Region

Turkey

Survey time period

2014 to 2018

Supplementary notes

* Estimate.

Figures have been rounded.

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Statistics on "Economic Outlook Turkey"

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