Turkey Strengthens Its Position in the Global Economy: GDP Growth and Record-Breaking Figures

Turkish President Recep Tayyip Erdoğan announced at the ruling Justice and Development Party (AKP) congress that Turkey's share in the global GDP has reached 1.1%, highlighting the country’s stable economic growth.

Income Growth

The average per capita income increased from $3,600 in 2002 to $13,243 by the end of 2023, with projections surpassing $15,000 in 2024.

Turkey Joins the Trillion-Dollar Economies

According to IMF data for 2023, Turkey ranked 12th in the world by GDP (PPP), having previously reached 11th place in 2020.

High-Tech Sector Expansion

Turkey's high-tech production increased from $95 billion to $320 billion over the past 22 years.

Industrial Growth and Exports

In 2024, Turkey set a record export volume of $261.9 billion, marking a 2.5% increase from the previous year.
Steel exports rose 27.6% to 13.4 million tons, while fresh fruit and vegetable exports totaled $3.4 billion.
Key importers include Russia, Germany, and Romania.

Booming Tourism Industry

Turkey welcomed 62.2 million tourists, a 9.8% increase from the previous year, generating $61.1 billion in tourism revenue.

Improved Credit Rating

S&P Global Ratings upgraded Turkey’s long-term credit rating from "B+" to "BB-" with a stable outlook.

Real Estate Investments

Turkey’s economic resilience makes it an ideal destination for property investment, especially for obtaining Turkish citizenship.
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