Turkiye Country Profile by Andaman Partners

Country Profiles

Türkiye

Profile in Brief

NOTE: This is a brief summary of the full Country Profile, which can be viewed or downloaded at the link below.

Türkiye has a GDP of USD 1.3 trillion (2024) with real GDP growth of 3.2%, driven by strong domestic demand and public spending, but with the challenges of inflation and currency volatility.

Türkiye has a total land area of 783,356 square kilometres.

Government is a presidential representative democracy and a constitutional republic.

Economy at a Glance
GDP Overview (2024)

Türkiye’s GDP is forecast to reach USD 2 trillion in 2030, with gradual growth in GDP per capita to USD 20,176.

Inflation peaked in 2022 (72.3%), and has remained above 50% in 2022-2023. Türkiye’s currency has been volatile compared to its peers, with sharp declines from 2017 to 2024.

Central government debt peaked in 2021 during the COVID-19 pandemic and has declined since, reaching 32% of GDP in 2023. Household consumption has trended sharply upwards from 2020.

Trade Profile (2024)

Total trade amounted to USD 606 billion in 2024. Metals, Electronics & Machinery was the largest sector, followed by Minerals, Fuels & Chemicals.

Leading export partners (2024): Germany (USD 20.4 billion), U.S. (USD 16.3 billion), U.K. (USD 15.3 billion).

Leading import partners (2024): China (USD 44.9 billion), Russia (USD 44.0 billion), Germany (USD 27.1 billion).

To download the full Country Profile, please see the option below.

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