Turkey / Türkiye

Updated: November 2022.


Key Insights
  • The Turkish economy is estimated by World Economics to be 31% larger than official data suggests, and is likely within the next three years to overtake France and Brazil to become the world's eighth biggest economy in the next three years, if trends of the last decade persist.
  • Key potentially favourable indicators include a ten year record of rapid believable (as based on reasonable quality data) economic growth; growth in GDP per capita significantly faster than other Emerging Markets; low debt compared with other developing countries; and a young population profile.
  • Turkey has seen higher temerature increases over the past centruy than most other countries.
 
ECONOMY SIZE

  • When measured in Purchasing Power Parity terms, including estimates for its large informal economy, and adjustments for outdated base year measures, Turkey's GDP is currently the ninth largest in the world, largest in the Middle East region and fifth largest in the Emerging Markets
Gross Domestic Product: 2021
Ranked by GDP
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GDP PPP
(Billions)
GDP Data Quality
Grade
Share of
Global GDP
%





United States $22,522 A 13.6%
India $15,518 C 9.4%
Japan $5,640 A 3.4%
Russia $5,540 C 3.4%
Germany $4,890 A 3.0%
Indonesia $4,519 B 2.7%
Brazil $4,167 B 2.5%
Turkey $3,487 B 2.1%
France $3,449 A 2.1%
United Kingdom $3,401 A 2.1%
Mexico $3,252 B 2.0%
Italy $3,064 A 1.9%
Korea, Rep. $2,801 A 1.7%
Saudi Arabia $2,220 B 1.3%
Spain $2,188 A 1.3%

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GDP Data Quality

Data Quality Ratings: Middle East Region
Index: 0 = Extremely poor quality, 100 = Good as it gets
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Data
Quality
Index
Data
Quality
Grade
Base
Year
SNA
Version
Informal
Economy %
Resoucres
Index
0-100
Corruption
Index
0-100





Israel 90.1 A Chained 2008 20.8 100.0 59
Turkey 79.4 B Chained 2008 31.2 81.1 38
Saudi Arabia 78.8 B 2010 2008 22.8 100.0 53
Bahrain 78.4 B 2010 2008 17.2 100.0 42
Qatar 76.6 B 2013 1993 16.5 100.0 63
Jordan 72.3 B 2016 1993 16.9 77.8 49
Oman 70.8 B 2010 1993 19.8 100.0 52
Lebanon 70.1 B Chained 2008 31.4 44.4 24
Kuwait 68.9 C 2010 1993 20.1 100.0 43

Access the interactive all country Data Quality Ratings table

Key:
Data Quality Index numbers shown on a scale of 0-100.
         0 = Poor, 100 = Excellent.

Resources Index numbers shown on a scale of 0-100.
         0 = Low level of resources, 100 = High level of resources.

Corruption Index numbers shown on a scale of 0-100.
         0 = High corruption, 100 = Low corruption.

Grade definitions:
         A: As good as it gets;
         B: Use with caution;
         C: Unreliable for many purposes
         D: Extremely poor quality.


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ECONOMIC GROWTH

  • Turkey's Compound Annual Growth Rate (CAGR) over the last 10, 5 and 3 years was 5.1%, 4.7% and 4.5% respectively.
  • On a 10-year CAGR basis Turkey ranks as the fastest growing economy in the Middle East region and 3rd of 24 countries in the Emerging Markets over the past decade.
  • Taking into account data quality, Turkey jumps up the rankings to second place in the Emerging Markets over the past 5 years.
Turkey's Compound Annual Growth Rate (CAGR) over the last 10-years
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Global
Rank:
GDP Data
Quality:
Grade
CAGR
10 Year:
2011-2021
CAGR
5 Year:
2016-2021
CAGR
3 Year:
2018-2021
Global Growth
Share:
Percentage




Congo, Dem. Rep 22 D 5.5% 4.3% 3.9% 0.2%
India 23 C 5.4% 3.7% 1.8% 14.7%
Kenya 24 C 5.4% 5.2% 5.0% 0.4%
Senegal 25 C 5.3% 5.1% 3.9% 0.1%
Benin 26 C 5.3% 5.9% 5.8% 0.1%
Burkina Faso 27 D 5.3% 5.3% 4.6% 0.1%
Ghana 28 B 5.3% 5.6% 4.5% 0.3%
Turkey 29 B 5.1% 4.7% 4.5% 3.2%
Malta 30 A 5.1% 4.1% 2.4% 0.0%
Mongolia 31 B 5.0% 3.1% 1.1% 0.0%
Dominican Republic 32 B 4.9% 4.3% 3.2% 0.2%
Philippines 33 B 4.8% 2.9% 0.4% 1.1%
Uganda 34 C 4.7% 4.9% 4.9% 0.1%
Cameroon 35 D 4.4% 3.6% 3.5% 0.1%
Indonesia 36 B 4.3% 3.3% 2.2% 3.6%

Access the interactive all country CAGR table

  • Over the past 10 years the global economy has grown by 27%. Turkey's contribution to this growth was 2.1% once any allowances are made for base year and informal economy size.

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WEALTH

  • GDP per Capita has grown much faster than comparable countries in the Middle East region and in the Emerging Markets generally.
  • In GDP per Capita terms, Turkey ranks 7th for the Middle East region and 10th for the Emerging Markets.
Turkey's GDP Per Capita Growth: 25 Years
Index: 1996 = 100

GDP Per Capita: Middle East Region
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GDP Per Capita
PPP
(Int$)
GDP per Capita
Data Quality
Grade





United Arab Emirates $77,182 A
Saudi Arabia $62,816 B
Kuwait $61,227 C
Bahrain $55,177 B
Israel $53,530 A
Turkey $41,006 B
Oman $40,094 B
Jordan $12,385 B
Middle East Average $56,980 -
Emerging Markets Average $38,310 -

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INEQUALITY

  • The distribution of income in an economy and can be measured on a country by country basis by the Gini Coefficient. Gini values are not all up-to-date but in the case of Turkey the data relates to 2019, so is relatively recent.
  • World Economics has Indexed the Gini Coefficient in relation to each country for comparison purposes. The Index is on a scale of 0-100. A high value indicates a more egalitarian society - and a low value suggests a lot of the national income is in the hands of a relatively small section of the population.
  • Turkey ranks 109th globally, 7th for the Middle East region and 16th in the Emerging Markets for Inequality.
Inequality Rankings: Middle East Region
Index: 0-100, 0 = High Inequality; 100 = High Equality
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Regional
Rank
Inequality
Index
Poverty
% of Population




United Arab Emirates 1 58.7 -
Lebanon 2 49.5 -
Jordan 3 46.5 0.1%
Yemen, Rep. 4 41.7 18.8%
Israel 5 38.1 -
Qatar 6 34.8 -
Turkey 7 33.5 -
Saudi Arabia 8 27.1 -

Access the interactive all country Inequality table

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DEBT

  • World Economics produces GDP data in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.
  • Turkey's is officially reported as having a debt-to-GDP ratio is calculated to be 41.8% by the IMF.
  • Using the World Economics GDP database, Turkey's GDP is calculated to be 31% larger than official estimates. Its debt ratio is consequently calculated at 31.9%
Debt-to-GDP Ratio for Emerging Market Countries
Ranked by % of GDP
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Global
Rank
Debt-to-GDP
Ratio




Ukraine 103 33.0%
Gabon 104 33.0%
Sweden 105 32.4%
Chad 106 32.4%
Nicaragua 107 32.4%
Tajikistan 108 32.4%
Uganda 109 32.2%
Turkey 110 31.9%
Denmark 111 31.8%
Honduras 112 31.3%
Madagascar 113 31.3%
Guyana 114 30.7%
Chile 115 30.4%
Mauritania 116 30.0%
Belarus 117 29.9%
Middle East Average   45.2%
Emerging Markets Average   45.4%


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POPULATION

  • Turkey is the seventeenth most populous country in the world with approximately 85 million inhabitants.
  • Turkey last conducted a national census in 2021. Read more from the World Economics Population Data Quality Ratings and see how Turkey compares to other countries around the world and in the Middle East region.
Turkey's Population Breakdown
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Population
Size
(Millions)
Median
Age
(Years)
Age
Dependency
(Young)
Age
Dependency
(Old)
Age
Dependency
(Total)





Mexico 130.3 29.2 38.8% 11.4% 50.3%
Japan 126.1 48.4 21.0% 48.0% 69.0%
Ethiopia 117.9 19.5 70.6% 6.3% 76.8%
Philippines 111.0 25.7 46.6% 8.6% 55.2%
Egypt 104.3 24.6 55.8% 8.8% 64.6%
Vietnam 98.2 32.5 33.6% 11.4% 45.1%
Congo, Dem. Rep 92.4 17.0 89.5% 5.9% 95.4%
Turkey 85.0 31.5 35.7% 13.4% 49.1%
Germany 83.9 45.7 21.7% 33.7% 55.4%
Thailand 70.0 40.1 23.5% 18.4% 41.9%
United Kingdom 68.2 40.5 27.8% 29.3% 57.1%
France 65.4 42.3 28.7% 33.7% 62.4%
Tanzania 61.5 18.0 81.0% 4.9% 85.9%
Italy 60.4 47.3 20.4% 36.6% 57.0%
South Africa 60.0 27.6 43.8% 8.4% 52.2%

Access the interactive all country Population table

  • Turkey has a young population profile of 35.7% and a low old population profile of 13.4%. The average age is 31.5 years old.

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ENVIRONMENT

  • Turkey's total emissions of Carbon Dioxide and Methane are considerable placing it in the top 25 of polluters by volume but on per capita level, Turkey moves down the list to around the global median.
  • The World Economics Emissions Index (on a scale of 0-100, 0=bad, 100=good) gauges the relative emissions for a country. The Emissions Index is based on the equal weighting of total Carbon and Methane emissions.
Environmental Factors
Index: 0 = High Emissions, 100 = Low Emissions
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Emissions
Index
0-100
Carbon
Emissions
Total
Carbon
Emissions
Per Capita
Methane
Emissions
Total
Methane
Emissions
Per Capita
Air
Quality
PM2.5
Water
Access
per capita





Saudi Arabia 95.4 582.1 16.5 44.2 1.3 60.1 99.0%
Ethiopia 95.8 16.3 0.1 103.5 0.9 31.9 49.6%
South Africa 95.8 478.6 8.0 45.4 0.8 25.2 93.9%
Korea, Rep. 96.0 611.3 11.9 25.5 0.5 26.4 99.0%
Bangladesh 96.1 102.2 0.6 83.8 0.5 62.8 97.7%
United Kingdom 96.1 369.9 5.4 51.2 0.8 10.3 99.0%
France 96.1 323.6 5.0 58.3 0.9 11.5 99.0%
Turkey 96.1 405.1 4.8 47.4 0.6 37.2 97.0%
Colombia 96.4 102.2 2.0 77.1 1.5 18.5 97.5%
Ukraine 96.4 223.2 5.1 63.0 1.5 14.0 93.9%
Egypt 96.5 246.6 2.4 56.9 0.6 72.3 99.0%
Poland 96.5 322.6 8.5 47.5 1.3 21.0 99.0%
Philippines 96.6 144.3 1.3 67.7 0.6 21.3 94.1%
Italy 96.6 337.1 5.6 43.7 0.7 14.8 99.0%
Afghanistan 96.7 10.7 0.3 81.5 2.1 55.1 75.1%

See: Access the interactive all country Environmental data table

Key:
Emissions Index numbers shown on a scale of 0-100.
         0 = Bad, 100 = Good.

Notes:
Format: Carbon data in Million MtCO2e and Methane data in MtCO2e, Air Quality: PM2.5

Methodology: Total Carbon and Total Methane data for each country has been indexed on a scale of 0-100 by using the standard deviation from the mean for each country. The implied Indexes are averaged to calculate a total Emissions Index which focuses on each countries emissions.

  • Turkey was the 47th coldest country in the World with an average annual temperature of 12.6 degrees centigrade (54.7 degrees Fahrenheit).
  • Temperatures in Turkey have risen on average by 2 degrees centigrade over the last century.
Average Annual Temperature by Year: Turkey

Source: CCKP. World Bank Group, Climate Change Knowledge Portal


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SOCIAL

  • The World Economics Social Index averages multiple key social indicators covering Health, Education and Employment.
  • Turkey has an average level rank for its social metrics, 79th out of 155 countries and 9th of 11 in the Middle East region.
Social Factors: Middle East Region
Index: 0 = Poor metrics, 100 = Excellent metrics
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Social
Factors
Index
Life
Expectancy
Years
Median
Age
Years
Mean Years
Schooling
Years
Population
in Work
Population %
Population
in Poverty
%





Jordan 87.3 74.5 23.8 10.5 33.5% 0.0%
Saudi Arabia 86.9 75.1 31.8 10.2 52.6% 0.0%
Oman 86.8 77.9 30.6 9.7 70.4% 0.0%
Bahrain 86.1 77.3 32.5 9.5 72.8% 0.0%
Lebanon 84.9 78.9 29.6 8.7 44.1% 0.0%
Turkey 82.9 77.7 31.5 8.1 45.7% 0.0%
Kuwait 80.1 75.5 36.8 7.3 71.9% 0.0%
Yemen, Rep. 58.8 66.1 20.2 3.2 33.1% 0.0%

Access the interactive all country Social data table

Key:
Social Factors Index numbers shown on a scale of 0-100
         0 = Poor social metrics, 100 = Excellent social metrics.

  • Each pupil in education receives 8.1 years of schooling (on average) - approximately half a year less than the global average.

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GOVERNANCE

  • Turkey ranks 89th globally, 4th in the Middle East region and 18th in the Emerging Markets for Governance.
Governance Factors Index: Middle East Region
Index: 0 = Poor, 100 = Good
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Governance
Index
(0-100 Index)
Rule of Law
Index
(0-100 Index)
Press Freedom
(0-100 Index)
Political Rights
(0-100 Index)
Corruption
Perceptions
(0-100 Index)




United Arab Emirates 53.2 71.3 48.0 16.7 76.7
Lebanon 52.1 26.3 50.3 35.7 95.9
Jordan 46.0 53.9 52.5 31.0 46.6
Oman 43.8 64 38.8 19.0 53.4
Kuwait 43.2 56.8 40.9 38.1 37.0
Turkey 40.3 39.8 44.5 42.9 34.2
Saudi Arabia 37.6 54.6 36.4 7.1 52.1
Bahrain 35.2 60.8 33.4 9.5 37.0
Yemen, Rep. 10.8 4.8 31.5 7.1 0.0

Access the interactive all country Governance table

Key:
The World Economics Governance Index gives equal weight to all four criteria.

Index numbers shown on a scale of 0-100.

Governance: 0 = Poor governance, 100 = As good as it gets.
Corruption Perceptions: 0 = Bad, 100 = Good.
Rule of Law: 0 = low rule of law, 100 = High rule of law.
Press Freedom: 0 = Low press freedom, 100 = High press freedom.
Political Rights: 0 = Low political rights, 100 = High political rights.



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