Turkiye

Turkey is a republican state located on the Anatolian Peninsula in West Asia and the southeastern tip of the Balkan Peninsula in Southern Europe. Geographically, it is a strategic crossroads of Eastern and Western civilizations, and its economy is based on diverse industries such as manufacturing, tourism, and agriculture. This geographical advantage and diverse industrial structure contribute to the development of the Turkish economy.

As of 2025, the Turkish economy is showing robust growth, with the real GDP growth rate at approximately 3.6%, an increase of about 0.3 percentage points from the previous year. Correspondingly, the real GDP per capita growth rate also increased by about 0.1 percentage points from the previous year to approximately 3.2%, suggesting an improvement in the real living standards of individual citizens. Nominal GDP (in USD) reached approximately $1.60 trillion, and nominal GDP per capita (in USD) reached approximately $18,600, representing increases of approximately 17.5% and 17.0% respectively year-on-year, indicating an expansion of the economic scale in dollar terms. On the other hand, although the consumer price inflation rate remains high at approximately 34.9%, it has decreased by about 23.6 percentage points from the previous year, showing progress towards inflation containment. The total population is approximately 85.88 million, continuing a slight upward trend of about 0.4% year-on-year. In terms of employment, the unemployment rate as of 2025 is approximately 8.5%, an improvement of about 0.3 percentage points from the previous year, suggesting a gradual improvement in the employment environment.

Looking at the fiscal and external balances, the government debt-to-GDP ratio as of 2024 is approximately 26.6%, which is a healthy level, representing a decrease of about 6.6 percentage points from the previous year, indicating progress in fiscal consolidation. The current account balance-to-GDP ratio as of 2024 is a slight deficit of approximately -0.8%, but it has improved by about 2.9 percentage points from the previous year, and the deficit is trending downwards. The trade-to-GDP ratio as of 2025 is approximately 49.9%, indicating that trade constitutes a large proportion of the economy, but it has decreased by about 4.7 percentage points from the previous year, suggesting changes in trade activity.