Ranking of Economies by GDP at PPP*
The Turkish economy posted record growth and climbed from 18th place to 12th globally from 2003 to 2024.
Source: OECD, IMF WEO, April 2025
*PPP: Purchasing Power Parity
Average Annual GDP Growth (%, 2002-2024)
Türkiye has outpaced its peer economies, and the growth momentum is set to continue in the coming years.
Source: IMF WEO
Real GDP Growth (Index: 2002=100)
Source: OECD
Gross Public Debt Stock as % of GDP
Adhering to prudent fiscal discipline, Türkiye drastically diminished the public debt stock from above 70 percent in 2002 down to around 23 percent in 2024.
Source: Ministry of Treasury and Finance, TurkStat, IMF WEO
Budget Balance as % of GDP
The positive effect of the fiscal discipline has been reflected as a noticeably diminished deficit in Türkiye’s budget balance during the past 22 years.
Source: Ministry of Treasury and Finance, TurkStat, IMF WEO
GDP at Current Prices (USD billion)
Over the past 22 years, Türkiye has put in a noteworthy performance by increasing the size of its overall economy from USD 238 billion in 2002 to USD 1,358 billion in 2024.
Source: TurkStat
Contribution to GDP Growth (%, 2002-2024)
Türkiye's economic growth over the past 22 years has been driven by a robust domestic market and an entrepreneurial private sector that combined have spurred investments and exports.
Source: TurkStat
Employment Creation (2003-2024) (Age Group 15-64)
Türkiye successfully generated approximately 11 million new jobs during the 2003-2024 period.
Source: Turkstat, EuroStat
Exports of Goods in Türkiye and the World
With an eye-catching 9.4 percent average annual growth in exports, Türkiye has outpaced the world performance and increased its export volume from USD 36 billion to USD 262 billion over the past 22 years.
Source: TurkStat, International Trade Centre (ITC)
Türkiye: 9.4% CAGR (2002-2021); World: 6.1% CAGR (2002-2024)
Türkiye's Share in Global Exports of Goods
In line with its remarkable performance, Türkiye's share in global exports has increased from less than 0.6 percent in 2002 to around 1 percent in 2024.
Source: TurkStat, International Trade Center (ITC)
Türkiye's Exports by Destination
Türkiye has grown its overall export volume from USD 36 billion in 2002 to USD 262 billion in 2024 and has achieved significant export diversification both in terms of export destinations and products.
Source: TurkStat
Number of Export Products over USD 1 Billion
Source: TurkStat
