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.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |
