Foreign Investor Guide
Reference: Presidency of the Republic of Turkey Investment office www.invest.gov.tr
STRONG ECONOMY
STRONG ECONOMY
Country Ranking According to GDP-PPP * Data
The Turkish economy recorded a record growth between 2003 and 2018, rising from the 18th largest economy in the world in 2003 to 13th in 2018.
Source: IMF World Economic Outlook Report, April 2019 (IMF WEO)
* PPP: Purchasing Power Parity (2023 estimate)
Annual Average GDP Growth (%) – 2003-2018
It is predicted that Turkey's growth momentum, which surpasses its rivals, will continue in the coming years.
Source: IMF WEO
Real GDP Growth (Index: 2002=100)
Source: IMF WEO (2020, 2022 forecast)
Gross Public Debt Stock (GDP – %)
Adhering to fiscal discipline, Turkey managed to reduce the ratio of public debt stock to national income, which was 70% in 2002, below 30% in 2018.
Source: Eurostat, Ministry of Treasury and Finance, IMF WEO
Budget Balance (GSYH – %)
The positive impact of the tight fiscal discipline followed has reflected on Turkey's budget balance as a noticeably reduced deficit in the last 16 years.
Source: Eurostat, Ministry of Treasury and Finance, IMF WEO
Annual Inflation (%)
The high inflation rates and the accompanying high volatility of the past decades have been rapidly reduced and have been kept under control since 2003.
Source: TURKSTAT, OECD
Turkish Economy (GDP at current prices, billion USD)
In the last 16 years, Turkey has demonstrated a remarkable performance by increasing its gross domestic product from USD 236 billion (2002) to USD 784 billion (2018).
Source: TURKSTAT
Contribution to GDP Growth (%) – 2003-2018
The strong domestic market and the entrepreneurial private sector have boosted Turkey's economic growth over the past 16 years, supporting investments and exports.
Source: TURKSTAT
Providing Employment – 2008-2018
Turkey achieved an employment increase of 7.5 million in the period 2008-2018.
Source: OECD
Exports of Goods in Turkey and the World
Turkey has surpassed the world performance with a dazzling 10% average annual growth in exports and increased its export volume from 36 billion USD to 168 billion USD in the last 16 years.
Source: TURKSTAT, International Trade Center (ITC)
Turkey: 10% CAGR; world: 7% CAGR
Turkey's Share in Global Exports
In line with this outstanding performance, Turkey's share in global exports, which was below 0.6% in 2002, reached 0.9% in 2018.
Source: ITC
Distribution of Turkey's Exports by Regions
Turkey increased its total export volume from 36 billion USD in 2002 to 168 billion USD in 2018 and provided a significant diversity in terms of both exported countries and exported products.
Source: TURKSTAT
Number of Export Products Over $ 1 Billion
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