The Turkish economy grew 3.2% in 2024, slowing from 5.1% in 2023 and marking the softest expansion since 2020. The slowdown was driven by weaker growth in household consumption (3.8% vs. 13.5% in 2023), government spending (0.8% vs. 2.5%), and fixed investments (3.9% vs. 8.4%). Meanwhile, net trade supported growth, with exports rising 0.9% (vs. -2.8%) and imports falling 4.1% (vs. +11.8%). source: Turkish Statistical Institute
Full Year GDP Growth in Turkey decreased to 3.20 percent in 2024 from 5.10 percent in 2023. Full Year GDP Growth in Turkey averaged 4.72 percent from 1999 until 2024, reaching an all time high of 11.80 percent in 2021 and a record low of -5.90 percent in 2001. This page includes a chart with historical data for Turkey Full Year GDP Growth. Turkey Full Year GDP Growth - values, historical data and charts - was last updated on February of 2026.
Full Year GDP Growth in Turkey decreased to 3.20 percent in 2024 from 5.10 percent in 2023. Full Year GDP Growth in Turkey is expected to reach 3.50 percent by the end of 2026, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Full Year GDP Growth is projected to trend around 4.00 percent in 2027 and 4.90 percent in 2028, according to our econometric models.