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The economy of Turkey is an emerging free-market economy. [36] It ranked as the 17th-largest in the world and 7th-largest in Europe by nominal GDP in 2024. [7] It also ranked as the 12th-largest in the world and 5th-largest in Europe by PPP in 2024. [7]
Under Atatürk the economy advanced from state based policies to a mixed economy in line with the increase in capital in the society. However one distinct characteristic between 1923 and 1985, in large part as a result of government policies, a backward economy developed into a complex economic system producing a wide range of agricultural, industrial, and service products for both domestic ...
The economic and political map of Europe also includes: Turkey, Georgia, Armenia, Azerbaijan, Cyprus and Kosovo. Country 2024 [4] 2023 [5] 2022 2021 [6] 2020 [6]
Turkey’s ramped-up exports come as avian flu has killed more than 140 million egg-laying birds in the United States since 2022, and 17 million alone in November and December. Fewer birds means ...
Turkey's exports as percentage of imports. A longstanding characteristic of Turkey's economy is a low savings rate. [17] Since Recep Tayyip Erdoğan assumed control of the government, Turkey has been running huge and growing current account deficits, $33.1 billion in 2016 and $47.3 billion in 2017, [18] climbing to US$7.1 billion in the month of January 2018 with the rolling 12-month deficit ...
Turkey has a diversified economy; main industries include automobiles, electronics, textiles, construction, steel, mining, and food processing. [318] It is a major agricultural producer . [ 324 ] Turkey ranks 8th in crude steel production , and 13th in motor vehicle production , ship building (by tonnage ), and annual industrial robot ...
The change in Istanbul's living standards is a direct reflection of the nation's statistics as the 27.5% share of the total consumption in Turkey is performed by the population of Istanbul. In the late 1990s, the economy of Turkey, and Istanbul in particular, suffered several major depressions.
Agriculture is still an important sector of Turkey's economy, and the country is one of the world's top ten agricultural producers. [1] Wheat, sugar beet, milk, poultry, cotton, vegetables and fruit are major products; [2] and Turkey is the world's largest grower of hazelnuts, [3] apricots, [2] and oregano.