Key facts
- Currency
- Turkish lira (TRY, ₺ )
- Fiscal year
- Calendar year
- Trade organisations
- G-20 ; OECD ; BSEC ; MIKTA ; ECO ; EU Customs Union ; OTS ; WTO , and Others
- Country group
- Emerging market Upper-middle income economy Newly industrialized country Diversified, industrializing economy Industrial country
- Population
- 86,092,168
- Gdp
- $1,640 trillion ( nominal , 2026) $4,030 trillion ( PPP , 2026)
- Gdp rank
- 16th (Nominal, 2026) 11th (PPP, 2026)
- Gdp growth
- 5.1% (2023) 3.3% (2024) 3.6% (2025)
- Gdp per capita
- $19,020 (nominal; 2026) $46,670 (PPP; 2026)
- Gdp per capita rank
- 64th (Nominal; 2026) 51st (PPP; 2026)
- Gdp by sector
- Manufacturing: 22.1% Wholesale and retail trade: 13.5% Transport and storage: 10.0% Agriculture , forestry and fishing : 6.5% Construction : 4.9% (2022)
~37 min read
Article
After becoming one of the early members of the Council of Europe in 1950, Turkey became an associate member of the EEC in 1963, joined the EU Customs Union in 1995 and started full membership negotiations with the European Union in 2005.
Turkey has an emerging free-market economy. It ranked as the 16th-largest in the world and 7th-largest in Europe by nominal GDP in 2025. It also ranked as the 11th-largest in the world and 5th-largest in Europe by PPP in 2025. Turkey's rapid economic growth since the 2000s was stranded by the economic crisis in 2018, but it began to recover in 2021. Turkey's USD-based nominal GDP per capita and GDP-PPP per capita have eventually reached their all-time peak values in 2024.