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Turkish economy
Emerging market economy by the International Monetary Fund (IMF)
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Turkey is a founding member of the OECD and G20 and is classified among the E7 countries , GOBLEs and NIES . [28] [29] [30] As of 2023, Turkey's economy is the 17th largest in the world and the 7th largest in Europe according to nominal GDP . It is also the 11th largest economy in the world and the 5th largest economy in Europe according to PPP . According to the IMF, Turkey has an upper-middle income , mixed-market , developing economy. [31] The country is the fourth most visited destination in the world [32] and has more than 1,500 R&D centers established by both multinational and national companies . [33] Turkey is among the world's leading producers of agricultural products, textiles, motor vehicles, transportation equipment, construction materials, consumer electronics and home appliances.
Turkish economy![]()
Levent financial center, Istanbul
Degree
Nominal (20) (2021)
PPP (11) (2021)
CurrencyTurkish lira ( TRY )Fiscal yearcalendar year [1]trade organizationsG-20 , OECD , EU Customs Union , WTO , ECO , BSECStatisticsGDP
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$794.53 billion [2] ( nominal , 2021 est.) [2]
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$2.75 trillion ( PPP , 2021 est.) [2]
GDP growth
2.8% (2018) 0.9% (2019 est.)
1.8% (fiscal year 2020) 6.0% (2021f) [3]
GDP per capita
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$9,327 (nominal, 2021 est.) [2]
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$32,278 (PPP, 2021 est.) [2]
