Economy of Turkey
Significant improvements in such a short period of time have registered Turkey on the world economic scale as an exceptional emerging economy, being the 18th largest economy in the world and the 6th largest economy when compared with the EU countries, according to GDP figures (at PPP) in 2016 .
• Institutionalized economy fueled by USD 151 billion of FDI in the past decade
• 18th largest economy in the world and 6th largest economy compared with EU countries in 2016 (GDP at PPP, IMF-WEO)
• Robust economic growth with an average annual real GDP growth of 4.7 percent during 2002-2015
GDP reached USD 720 billion in 2015, up from USD 231 billion in 2002
• Sound economic policies with a prudent fiscal discipline
• Strong financial structure resilient to the global financial crisis Turkey’s GDP current prices and growth rates of GDP are as follows
Years GDP Current Prices (TRY Million ) Growth Rate (%)
2006 758,391 16.9
2007 843,178 11.2
2008 950,534 12.7
2009 952,559 0.2
2010 1,098.799 15.4
2011 1,297.713 18,1
2012 1,416.798 9.2
2013 1,567.289 10.6
2014 1,747.362 11.5
2015 1,952.638 11.7
The liberalization of capital movements and the willingness of foreign creditors to lend to Turkish investors contributed to the high growth rate of private investment.
