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||1998 - 2015
Turkey is a rapidly developing country and the largest national economy in Central and Eastern Europe. Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for about 25% of employment. It has a strong and rapidly growing private sector, yet the state remains a major participant in basic industry, banking, transport, and communication. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country and GDP rebounded strongly to around 9 percent in 2010-11, as exports returned to normal levels following the recession. Growth dropped to roughly 3-4 percent in 2012-13. Turkey's public sector debt to GDP ratio has fallen to nearly 30 percent in 2014. However, Turkey's relatively high current account deficit, domestic political uncertainty, and turmoil within its neighbors leave the economy vulnerable to destabilizing shifts in investor confidence. On the expenditure side, household consumption is the main component of GDP and accounts for 69 percent of its total use, followed by gross fixed capital formation (20 percent) and government expenditure (15 percent). While net external demand accounts for -4 percent of total GDP. This page provides the latest reported value for - Turkey GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for - Turkey GDP Growth Rate - was last refreshed on Wednesday, October 7, 2015.