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Turkey’s GDP has grown rapidly in recent years, placing it among the world’s leading economies. The country has expanded policies to attract foreign investment and offers second citizenship programs. This creates opportunities both for business and for becoming a citizen of a nation with an enviable per capita GDP.
Turkey is a transcontinental country spanning both Asia and Europe, with a long and rich history of development. Its total area exceeds 780,000 km², stretching across two continents. Despite its large territory, Turkey’s population is relatively moderate, numbering just over 83 million people (2025 estimate).
Ankara is the capital of Turkey. The country has its own language and many unique cultural characteristics. It is one of the prominent economies in both Asia and Europe, ranking 17th globally with a high GDP per capita. Turkey continues to strive for EU integration, using this as a stepping stone to further accelerate economic growth.
Overview of Turkey’s country information and economy
Turkey’s GDP has consistently ranked among the world’s largest economies. Below are the most recent figures, statistics, and insights regarding the country’s GDP.
According to the latest statistics, Turkey’s GDP growth for the full year of 2024 was 3.2% compared to the previous year. This growth was driven by stable exports and strong domestic consumption and production. In 2024, Turkey’s economy also emerged from a period of technical recession. Key figures include:
Nominal GDP: Reached USD 1.32 trillion by the end of 2024.
GDP per capita: Reached USD 15,463 by the end of 2024.
This GDP growth positions Turkey as the 17th largest economy in the world, and if measured by purchasing power parity (PPP), it ranks 12th globally.
In 2024 and early 2025, Turkey’s inflation rate fell below 40% for the first time in 20 months. This was largely due to government measures controlling consumption and maintaining high interest rates. The decline in inflation also provided a boost for Turkey’s GDP growth.
The policy interest rate was initially raised to 50% by the Central Bank of Turkey but was soon lowered to 45%, with forecasts indicating a further decrease in 2025.
Latest update on Turkey’s GDP in the past year
According to the World Bank’s 2024 statistics, Turkey’s economy is composed of three main sectors. These are:
According to 2024 data, Turkey is a leading global exporter of various agricultural products, including dried apricots, wheat flour, raisins, figs, and hazelnuts. In 2024, agricultural exports accounted for 16% of the country’s total exports, reaching a record USD 36.2 billion.
The industrial sector represents 28.4% of Turkey’s GDP, with 20% coming from manufacturing. Key industries include automobiles, textiles, steel, plastics, chemicals, and electrical equipment.
The services sector holds the largest share at 54.1% of GDP. Revenue from tourism reached a record USD 61.1 billion last year, an 8.3% increase. This sector contributes 12% of GDP and generates over 10% of employment opportunities.
Sector shares in Turkey’s GDP
Based on Turkey’s 2024 GDP data, the government has set its projections for 2025. Total GDP is forecasted to grow by 4% compared to the previous year, reaching USD 1.47 trillion in nominal GDP. Meanwhile, the country’s GDP per capita is expected to increase to approximately USD 17,028 this year.
Major economic centers in Turkey include Istanbul, Ankara, and Izmir. In the capital, Ankara, GDP per capita reaches USD 18,655, and the average household income is about USD 4,500. Among Turkish cities, Ankara ranks third in per capita GDP, with Istanbul leading at USD 26,213.
Statistics from the Turkish government and the World Bank show that Turkey’s GDP has been growing steadily each year. Key factors contributing to the country’s economic development include:
Political and social stability: The government works to maintain peace and has built strong relationships with the EU, NATO, major Asian countries, and Arab nations.
Economic policies: Positive changes in interest rates and inflation have contributed to stable growth.
Trade and investment: Turkey’s import-export activities remain dynamic, with strong partnerships with major economies such as the EU, China, and Russia,...
Tourism and natural advantages: Blessed with beautiful landscapes and favorable weather for much of the year, Turkey prioritizes tourism. Government policies to attract international visitors have made tourism a key contributor to GDP growth and the overall economy.
Multiple factors driving Turkey’s GDP growth
Looking at Turkey’s GDP, there is a growing interest from investors worldwide. The Turkish government allows foreign nationals to obtain second citizenship, providing permanent residency rights. With citizenship, investing and conducting business across all sectors becomes much easier.
One major advantage of Turkish citizenship investment is that there is no requirement for a minimum stay in the country each year. Citizenship also grants visa-free access to many major economies worldwide. Furthermore, holders can benefit from favorable investment policies and attractive business interest rates, making it an appealing opportunity for entrepreneurs.
Turkey’s strong GDP, abundant job opportunities, and broad investment market make it an ideal choice for those considering second citizenship investment. If you wish to obtain Turkish citizenship, Quoctichthuhai.com provides professional guidance:
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Turkish Citizenship Investment at Quoctichthuhai.com
Turkey’s GDP in recent years remains promising, offering significant opportunities for entrepreneurs and investors. Both the Turkish government and supportive programs have implemented policies to encourage foreign investment, making this a chance not to be missed. Act quickly and contact Quoctichthuhai.com if you want to invest in Turkish citizenship and gain access to one of the world’s top GDP economies.
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