Türkiye’s GDP Expected to Surpass $1.3 Trillion by Year-End, Vice President Yilmaz Announces
Ankara, The Gulf Observer: Türkiye’s gross domestic product (GDP) is projected to exceed $1.3 trillion by the close of this year, with GDP per capita anticipated to reach over $15,000, according to Vice President Cevdet Yilmaz. Speaking at a business forum organized by the Foreign Economic Relations Board of Türkiye (DEIK), Yilmaz shared the nation’s economic progress and future outlook, noting expectations for GDP per capita to surpass $20,000 by fiscal year 2027-28.
Marking the republic’s 100th anniversary, Türkiye has achieved unprecedented records in production, employment, exports, and national income. Since the Justice and Development (AK) Party’s administration began in late 2002, Türkiye has sustained an average annual growth rate of 5.4%, well above the global average of 3.6%. “Twenty years ago, Türkiye’s GDP per capita was very low, yet today we stand among the world’s largest economies,” Yilmaz noted, crediting this growth to political stability, strong leadership, and predictable policies.
The Vice President emphasized that Türkiye’s exports are expected to hit $264 billion by the end of this year, while tourism revenues are estimated to reach $60 billion. He also highlighted Türkiye’s progress in the service sectors and the government’s reform-driven approach to attract foreign investment, adding, “Political stability is the foundation of economic stability. Countries with political stability and the right policies can develop rapidly.”
Türkiye’s economic achievements underscore its transformative journey over the past two decades, solidifying its position as a robust and competitive player in the global economy.
