Turkey's GDP changed from approximately $96B 596M in 1980 to $1T 113B in 2024, showing an overall 1052.8% sharply increased during the period.
The lowest GDP was recorded in 1984 at $82B 642M, and the highest in 2024 at $1T 113B.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.7%.
For comparison, the average annual growth rate of Iran was 3.7%, and that of Saudi Arabia was 4.4%.
Turkey GDP from 1980 to 2024
The total market value of goods and services produced annually in Turkey.
Overview of Turkey's GDP (1980–2024)
The Gross Domestic Product (GDP) of Turkey recorded a 1052.8% sharply increased from 1980 to 2024.
The average GDP during this period was $470B 484M, and the median was $275B 834M.
GDP fluctuated within a range of $1T 30B, with a standard deviation of $336B 179M.
The average annual change was $24B 38M.
Highest and Lowest GDP Records
- Lowest GDP: 1984, $82B 642M
- Highest GDP: 2024, $1T 113B
- Most Recent GDP: 2024, $1T 113B
Notable Annual GDP Changes
- 2023: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Turkey's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $760B 520M → $720B 159M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $680B 489M → $648B 797M
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $274B 321M → $202B 248M
- Outcome: sharply declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $261B 857M → $275B 834M
- Outcome: increased
Key Economic Indicators of Turkey (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | -0.779 % | $ 96B 596M | $ 159B 193M | $ 2,133.68 | $ 3,516.38 | 22.69 % | 45M 272K people | -3.198 % | 0 % |
1981 | 4.365 % | $ 97B 865M | $ 181B 861M | $ 2,113.07 | $ 3,926.68 | 22.92 % | 46M 314K people | -1.942 % | 0 % |
1982 | 3.429 % | $ 88B 918M | $ 199B 720M | $ 1,876.64 | $ 4,215.13 | 21.24 % | 47M 382K people | -1.071 % | 0 % |
1983 | 4.758 % | $ 84B 968M | $ 217B 415M | $ 1,753.33 | $ 4,486.43 | 16.57 % | 48M 461K people | -2.263 % | 0 % |
1984 | 6.823 % | $ 82B 642M | $ 240B 631M | $ 1,668.46 | $ 4,858.09 | 15.89 % | 49M 532K people | -1.741 % | 0 % |
1985 | 4.258 % | $ 92B 827M | $ 258B 810M | $ 1,835.18 | $ 5,116.69 | 18.05 % | 50M 582K people | -1.091 % | 0 % |
1986 | 6.941 % | $ 102B 337M | $ 282B 349M | $ 1,983.05 | $ 5,471.26 | 21.51 % | 51M 606K people | -1.432 % | 0 % |
1987 | 10.027 % | $ 118B 926M | $ 318B 358M | $ 2,260.66 | $ 6,051.66 | 23.13 % | 52M 607K people | -0.678 % | 0 % |
1988 | 2.121 % | $ 125B 32M | $ 336B 577M | $ 2,333.22 | $ 6,280.86 | 24.95 % | 53M 588K people | 1.276 % | 0 % |
1989 | 0.253 % | $ 147B 727M | $ 350B 660M | $ 2,707.90 | $ 6,427.75 | 22.67 % | 54M 554K people | 0.651 % | 0 % |
1990 | 9.255 % | $ 207B 508M | $ 397B 451M | $ 3,738.16 | $ 7,159.90 | 21.82 % | 55M 511K people | -1.265 % | 0 % |
1991 | 0.926 % | $ 208B 402M | $ 414B 700M | $ 3,691.37 | $ 7,345.46 | 21.84 % | 56M 457K people | 0.436 % | 0 % |
1992 | 5.984 % | $ 219B 176M | $ 449B 534M | $ 3,818.77 | $ 7,832.37 | 22.03 % | 57M 394K people | -0.444 % | 0 % |
1993 | 8.042 % | $ 248B 573M | $ 497B 198M | $ 4,261.64 | $ 8,524.18 | 21.89 % | 58M 328K people | -2.588 % | 0 % |
1994 | -5.456 % | $ 179B 359M | $ 480B 109M | $ 3,026.72 | $ 8,101.93 | 20.54 % | 59M 259K people | 1.467 % | 0 % |
1995 | 7.19 % | $ 233B 566M | $ 525B 418M | $ 3,880.86 | $ 8,730.17 | 20.59 % | 60M 184K people | -1.001 % | 0 % |
1996 | 7.007 % | $ 250B 486M | $ 572B 528M | $ 4,099.23 | $ 9,369.47 | 20.45 % | 61M 106K people | -0.973 % | 0 % |
1997 | 7.528 % | $ 261B 857M | $ 626B 242M | $ 4,221.92 | $ 10,096.89 | 20.76 % | 62M 23K people | -1.007 % | 0 % |
1998 | 3.092 % | $ 275B 834M | $ 652B 865M | $ 4,384.47 | $ 10,377.50 | 25.62 % | 62M 912K people | 0.725 % | 0 % |
1999 | -3.263 % | $ 256B 565M | $ 640B 497M | $ 4,020.27 | $ 10,036.31 | 21.74 % | 63M 818K people | -0.361 % | 0 % |