Source
Central bank

Central Bank of the Republic of Turkey

International Reserves

USD 93.51 billion (2020)
World Bank, last updated 12/16/2021

Gross Domestic Product - GDP

USD 795.95 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP (Purchasing Power Parity)

USD 2,873.84 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

Real GDP growth
2017 2018 2019 2020 2021*
7.5% 3% 0.9% 1.8% 9%

*Estimate

GDP per capita - current prices

USD 9,406.58 (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP per capita - PPP

USD 33,963.10 (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP (PPP) - share of world total

1.99% (2021 estimate)
IMF - World Economic Outlook, October 2021

 
 
Source
GDP - composition by sector
  • agriculture: 6.6% 
  • industry: 27.8% 
  • services: 54.6%

(2020 estimate)

Gross domestic expenditure on R&D; (% of GDP)

1.1% (2019)

Inflation
2017 2018 2019 2020 2021*
11.1% 16.3% 15.2% 12.3% 17%

*Estimate

Unemployment rate
2017 2018 2019 2020 2021*
10.9% 10.9% 13.7% 13.1% 12.2%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2017 2018 2019 2020 2021*
28% 30.2% 32.7% 39.8% 37.8%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2017 2018 2019 2020 2021*
–0.9% –2.2% –3.6% –3.4% –2.4%

*Estimate

Government bond ratings

Standard & Poor's: B+

Moody's: B2

Standard & Poor's / Moody's (January 2022)

Market value of publicly traded shares

USD 237.5 billion (2020)
World Bank / Market capitalization

Largest companies

Koç Holding, Isbank, VakifBank, Garanti Bank, Sabanci Holding, Halkbank, Akbank, Ford Otosan, Turkish Airlines
Forbes Global 2000 (2021)

 
 
Source
Current account balance

USD -19.2 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

Current account balance by percentage of GDP

-2.4% (2021 estimate)
IMF - World Economic Outlook, October 2021

Exports as percent of GDP (Exports of goods and services)

28.7% (2020)
World Bank - World Development Indicators (updated Feb 2022)

Shares in world total merchandising export

0.96% (2020)

Shares in world total commercial services export

0.7% (2020)

Total exports

USD 203.3 billion (2020 estimate)

Export commodities

Cars and vehicle parts, refined petroleum, delivery trucks, jewelry, clothing and apparel (2019)

Total imports

USD 232 billion (2020 estimate)

 
 
Source
Import commodities

Gold, refined petroleum, crude petroleum, vehicle parts, scrap iron (2019)

Exports - major partners

Germany 9%, United Kingdom 6%, Iraq 5%, Italy 5%, United States 5% (2019)

Imports - major partners

Germany 11%, China 9%, Russia 9%, United States 5%, Italy 5% (2019)

FDI inflows
2019 2020 2021
USD 12.8 billion USD 9.3 billion USD 7.8 billion
FDI outflows
2019 2020 2021
USD 3.6 billion USD 3.0 billion USD 3.2 billion
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2020
USD –164 million USD –736 million USD –726 million USD -13 million
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

(for a monthly update on M&A; click here )

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

(for a monthly update on M&A; click here )

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 33 out of 190 countries (2020)

Subcategories:

Starting a Business: 77 out of 190 countries
Dealing with Construction Permits: 53 out of 190 countries
Getting Electricity: 41 out of 190 countries
Registering Property: 27 out of 190 countries
Getting Credit: 37 out of 190 countries
Protecting Minority Investors: 21 out of 190 countries
Paying Taxes: 26 out of 190 countries
Trading across Borders: 44 out of 190 countries
Enforcing Contracts: 24 out of 190 countries
Resolving Insolvency: 120 out of 190 countries
World Bank - Doing Business 2020

Global competitiveness ranking

115 out of 141 countries

(2019)

Index of Economic Freedom

Ranking: 107 / Score: 56.9 (Mostly Unfree)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+2

Total area

783,562 sq km

Capital

Ankara 

Currency

Turkish liras (TRY)

Government type

Presidential republic

Languages

Turkish (official), Kurdish, other minority languages

Religions

Muslim 99.8% (mostly Sunni), other 0.2% (mostly Christians and Jews)

Total population
1990 2000 2010 2015 2020
53.9 million 63.2 million 72.3 million 78.5 million 84.3 million

*Estimate  

 
 
Source
Urban population as % of total population
1960 1980 2000 2020
31.5% 43.8% 64.7% 76.1%
Population median age

31.4 years (2016 estimate)

Population growth rate

0.49% (2018 estimate)

Life expectancy

75.3 years (2016 estimate)

Literacy

Total population: 96.2%
Male: 98.8%
Female: 93.6% (2016 est.)

(age 15 and over can read and write)

% of population living on less than $3.10 a day

1.8% (2016)

Inequality of wealth distribution (Gini index)

41.9 (2016)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 5
Civil Liberties: 6 (2019)                         

(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed 14.1%   Mobile 97.3% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

71.04% (2018)

Mercer Cost of living index

Istanbul: 154th (2019)

CO2 emissions

4.48 (2014)

World's Best Developed & Emerging Markets Banks

World's Best Islamic Financial Institutions

World's Best Global Banks

Best Risk Management Providers - Insurance & Derivatives

World's Best Internet Banks

World's Best Supply Chain Finance Providers

World's Best Subcustodian Banks

World’s Best Investment Banks

World’s Best Foreign Exchange Providers

World's Best Banks By Region

World's Best Banks

2009

World’s Best Trade Finance Banks

Best of…

World's Biggest Banks

Additional Awards