Turkey GDP Trends from 1980 to 2024: A overall increase with some decline Flow

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%.

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.


Turkey GDP from 1980 to 2024

The total market value of goods and services produced annually in Turkey.

Change Chart

    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)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 96B 596M
    $ 2,133.68
    $ 3,516.38
    $ 159B 193M
    -0.779 %
    -3.198 %
    22.69 %
    0 %
    45M 272K people
    1981
    $ 97B 865M
    $ 2,113.07
    $ 3,926.68
    $ 181B 861M
    4.365 %
    -1.942 %
    22.92 %
    0 %
    46M 314K people
    1982
    $ 88B 918M
    $ 1,876.64
    $ 4,215.13
    $ 199B 720M
    3.429 %
    -1.071 %
    21.24 %
    0 %
    47M 382K people
    1983
    $ 84B 968M
    $ 1,753.33
    $ 4,486.43
    $ 217B 415M
    4.758 %
    -2.263 %
    16.57 %
    0 %
    48M 461K people
    1984
    $ 82B 642M
    $ 1,668.46
    $ 4,858.09
    $ 240B 631M
    6.823 %
    -1.741 %
    15.89 %
    0 %
    49M 532K people
    1985
    $ 92B 827M
    $ 1,835.18
    $ 5,116.69
    $ 258B 810M
    4.258 %
    -1.091 %
    18.05 %
    0 %
    50M 582K people
    1986
    $ 102B 337M
    $ 1,983.05
    $ 5,471.26
    $ 282B 349M
    6.941 %
    -1.432 %
    21.51 %
    0 %
    51M 606K people
    1987
    $ 118B 926M
    $ 2,260.66
    $ 6,051.66
    $ 318B 358M
    10.027 %
    -0.678 %
    23.13 %
    0 %
    52M 607K people
    1988
    $ 125B 32M
    $ 2,333.22
    $ 6,280.86
    $ 336B 577M
    2.121 %
    1.276 %
    24.95 %
    0 %
    53M 588K people
    1989
    $ 147B 727M
    $ 2,707.90
    $ 6,427.75
    $ 350B 660M
    0.253 %
    0.651 %
    22.67 %
    0 %
    54M 554K people
    1990
    $ 207B 508M
    $ 3,738.16
    $ 7,159.90
    $ 397B 451M
    9.255 %
    -1.265 %
    21.82 %
    0 %
    55M 511K people
    1991
    $ 208B 402M
    $ 3,691.37
    $ 7,345.46
    $ 414B 700M
    0.926 %
    0.436 %
    21.84 %
    0 %
    56M 457K people
    1992
    $ 219B 176M
    $ 3,818.77
    $ 7,832.37
    $ 449B 534M
    5.984 %
    -0.444 %
    22.03 %
    0 %
    57M 394K people
    1993
    $ 248B 573M
    $ 4,261.64
    $ 8,524.18
    $ 497B 198M
    8.042 %
    -2.588 %
    21.89 %
    0 %
    58M 328K people
    1994
    $ 179B 359M
    $ 3,026.72
    $ 8,101.93
    $ 480B 109M
    -5.456 %
    1.467 %
    20.54 %
    0 %
    59M 259K people
    1995
    $ 233B 566M
    $ 3,880.86
    $ 8,730.17
    $ 525B 418M
    7.19 %
    -1.001 %
    20.59 %
    0 %
    60M 184K people
    1996
    $ 250B 486M
    $ 4,099.23
    $ 9,369.47
    $ 572B 528M
    7.007 %
    -0.973 %
    20.45 %
    0 %
    61M 106K people
    1997
    $ 261B 857M
    $ 4,221.92
    $ 10,096.89
    $ 626B 242M
    7.528 %
    -1.007 %
    20.76 %
    0 %
    62M 23K people
    1998
    $ 275B 834M
    $ 4,384.47
    $ 10,377.50
    $ 652B 865M
    3.092 %
    0.725 %
    25.62 %
    0 %
    62M 912K people
    1999
    $ 256B 565M
    $ 4,020.27
    $ 10,036.31
    $ 640B 497M
    -3.263 %
    -0.361 %
    21.74 %
    0 %
    63M 818K people