Please Paste this Code in your Website
||1999 - 2015
The Turkish economy has shown a steady growth over the last decade. A sound macroeconomic strategy in combination with prudent fiscal policies and major structural reforms in effect since 2002 has integrated the Turkish economy into the globalized world, while transforming the country into one of the major recipients of FDI in its region ($12.5 billion in 2014). With a large and young population, a proximity to both Western and Eastern markets, long coastlines and an improving business climate, Turkey has become an increasingly popular destination for tourists and investors alike. However, like other European countries, Turkey was impacted by the global crisis and in 2009 the country's GDP contracted by 4.8 percent. Although 2010 brought a quick recovery (+9.2 percent), subsequent inflows of portfolio investments (fuelled by monetary easing in developed countries) almost caused the economy to overheat in 2011. The expansion slowed in 2012, when economic growth dropped to just 2.1 percent, cooling fears of overheating. 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 Annual 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 Annual Growth Rate - was last refreshed on Saturday, October 10, 2015.