Turkiye

The Republic of Turkey is a republic spanning the Anatolian Peninsula in Western Asia and the East Thrace region in Southern Europe, with its capital in Ankara. Located at a geographical crossroads connecting Asia and Europe, it possesses a unique presence combining the contexts of both regions, along with a diverse industrial base.

In 2025, the Turkish economy maintained steady economic growth, with a real GDP growth rate of 3.6% (up 0.3 percentage points from the previous year) and a real per capita GDP growth rate of 3.2% (up 0.1 percentage points from the previous year). Looking at dollar-denominated levels, nominal GDP (in dollar terms) reached approximately 1 trillion 597.3 billion dollars (up 17.5% year-on-year), and nominal GDP per capita reached 18,599.4 dollars (up 17.0% year-on-year). The total population continues to expand at 85,878,556 people (up 0.4% year-on-year), while the unemployment rate stands at 8.5% (an improvement of 0.3 percentage points from the previous year).

On the price front, an area of economic challenge, the consumer price inflation rate in 2025 remains high at 34.9%, but dropped by 23.6 percentage points compared to the previous year, showing signs of easing in rapid price rises. On the fiscal front, government debt (as a percentage of GDP) as of 2024 is kept at a low level of 25.5% (down 5.6 percentage points from the previous year). Meanwhile, in external economic indicators, trade (as a percentage of GDP) recorded 49.9% (down 4.7 percentage points from the previous year), and the current account balance (as a percentage of GDP) recorded -1.9% (a deterioration of 0.9 percentage points from the previous year). Note that the real interest rate has not been disclosed.