Turkey Economy

Europe & Central Asia · Upper middle income · Capital: Ankara

Updated 17 Oct 2026

GDP Annual Growth Rate in Turkey decreased to 2.56 percent in Q2 2026 from 2.59 percent in Q1 2026. Inflation Rate in Turkey decreased to 31.51 percent in Aug 2026 from 31.75 percent in Jul 2026.

GDP Growth
2.6%
▼ −0.0 pp Q2 2026 · OECD
Inflation Rate
31.5%
▼ −0.2 pp Aug 2026 · BIS
Interest Rate
37.00%
■ 0.00 pp Sep 2026 · BIS
Unemployment
7.8%
▼ −0.3 pp Aug 2026 · OECD

GDP Growth Rate

Real GDP, annual % change. Hatched bars are IMF projections.

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Inflation vs Interest Rate

Monthly data, %. Source: BIS.

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Key Highlights

  • Real GDP grew 2.6% in Q2 2026 (previous year: 2.6%).
  • Consumer price inflation was 31.5% in Aug 2026, compared with 31.8% in the previous period.
  • The central bank policy rate stood at 37.00% at the end of Sep 2026 (previous: 37.00%).
  • The unemployment rate was 7.8% in Aug 2026 (previous: 8.1%).
  • General government debt was 23.7% of GDP in 2025.
  • The IMF projects real GDP growth of 2.7% for 2026 (World Economic Outlook projection).

Main Indicators

IndicatorLastPreviousPeriodTrendSource
GDP Annual Growth Rate2.6%2.6%Q2 2026OECD
Interest Rate37.00%37.00%Sep 2026BIS
Inflation Rate31.5%31.8%Aug 2026BIS
Unemployment Rate7.8%8.1%Aug 2026OECD
Government Debt to GDP23.7%23.6%2025IMF
Balance of Trade-$3.8B$7.3B2025World Bank
Current Account to GDP-1.9%-1.0%2025World Bank
GDP$1,597.3B$1,359.1B2025World Bank

GDP

IndicatorLastPreviousPeriodTrendSource
GDP per Capita$18,599$15,8932025World Bank
GDP per Capita PPP$45,288$45,1232025World Bank
Gross National Income$1,574.0B$1,340.6B2025World Bank
GDP from Agriculture5.2%5.8%2025World Bank
GDP from Industry24.0%25.5%2025World Bank
GDP from Manufacturing16.8%19.5%2024World Bank
GDP from Services59.4%57.5%2025World Bank
Gross Fixed Capital Formation30.6%31.3%2025World Bank
Household Consumption to GDP54.7%54.3%2025World Bank
GDP Growth Rate1.12%0.31%Q2 2026OECD

Labour

IndicatorLastPreviousPeriodTrendSource
Youth Unemployment Rate16.0%16.3%2025World Bank
Labour Force Participation Rate54.4%54.2%2025World Bank
Employment Rate49.7%49.4%2025World Bank
Population85.88M85.52M2025World Bank

Prices

IndicatorLastPreviousPeriodTrendSource
GDP Deflator Growth36.4%59.3%2025World Bank
Core Inflation Rate32.0%32.5%Dec 2025OECD
Inflation Rate MoM0.89%0.87%Dec 2025OECD
Food Inflation28.3%27.4%Dec 2025OECD

Money

IndicatorLastPreviousPeriodTrendSource
Deposit Interest Rate57.60%71.04%2025World Bank
Broad Money Growth37.9%36.9%2025World Bank
Foreign Exchange Reserves$185.6B$155.5B2025World Bank
Private Debt to GDP49.1%49.1%Q1 2026BIS

Trade

IndicatorLastPreviousPeriodTrendSource
Current Account-$30.3B-$13.0B2025World Bank
Exports$396.9B$374.7B2025World Bank
Imports$400.7B$367.4B2025World Bank
Foreign Direct Investment$12.97B$11.66B2025World Bank
External Debt$515.0B$499.8B2024World Bank
Remittances$0.76B$0.98B2025World Bank
Terms of Trade86.886.72024World Bank
Tourist Arrivals15.97M51.75M2020World Bank
Tourism Revenues$13.77B$41.42B2020World Bank

Government

IndicatorLastPreviousPeriodTrendSource
Government Budget-2.8%-5.0%2025IMF
Government Revenues to GDP28.1%27.3%2024IMF
Government Spending to GDP32.6%32.5%2024IMF
Tax Revenue to GDP17.6%18.2%2024World Bank
Military Expenditure1.91%1.84%2025World Bank

Business

IndicatorLastPreviousPeriodTrendSource
Industrial Production-0.5%-0.8%Jul 2026OECD
Composite Leading Indicator100.73100.46Sep 2026OECD
Business Confidence100.1099.63Sep 2026OECD

Consumer

IndicatorLastPreviousPeriodTrendSource
Retail Sales YoY12.2%12.6%Jul 2026OECD
Consumer Confidence101.37100.98Sep 2026OECD

Housing

IndicatorLastPreviousPeriodTrendSource
Residential Property Prices25.1%26.7%Q2 2026BIS

Turkey economy explained in simple words

Size of the economy

The economy of Turkey produced goods and services worth $1,597.3B in 2025, making it the 16th largest of 214 economies with data.

With a population of about 85.9 million, GDP per person is $18,599. The World Bank classifies Turkey as a “upper middle income” economy.

Economic growth

Real GDP grew 2.6% in 2026, compared with world growth of 3.5% (IMF).

Over the last 10 years growth averaged 3.5% a year, ranging from 2.1% to 7.4%.

The IMF projects growth of 2.7% in 2026.

Prices and interest rates

Consumer price inflation was 31.5% in Aug 2026.

The central bank policy rate was 37.00% at the end of Sep 2026.

The difference between the two — the real interest rate — is about 5.49%.

Jobs

The unemployment rate was 7.8% in Aug 2026 (world: 4.8%).

About 54.4% of people aged 15 and over are in the labour force (working or looking for work).

Government finances

General government debt was 23.7% of GDP in 2025, compared with a median of 52.9% across 191 economies.

The government budget balance was -2.8% of GDP (2025) — a deficit, meaning spending exceeded revenue.

Trade and external position

The current account was -1.9% of GDP in 2025 — a deficit with the rest of the world.

Exports of goods and services were $396.9B and imports $400.7B.

Foreign exchange reserves (including gold) stood at $185.6B.

Structure of the economy

By sector, value added is split roughly as: services 59.4%, industry 24.0%, agriculture 5.2% of GDP.

How to read this page

The four boxes at the top show the most-watched numbers: GDP growth (how fast the economy is expanding), inflation (how fast prices are rising), the central bank policy rate (the base cost of borrowing) and unemployment (the share of job-seekers without work). The small arrow shows the change from the previous reading.

The tabs group all available indicators by topic — GDP, labour, prices, money, trade, government and housing. Each row shows the latest value, the previous value, the period it refers to, a small trend line and the source. Click any indicator to open its full history, chart, statistics and comparison with other countries.

Monthly and quarterly figures come from national statistics offices and central banks — via the OECD, the Bank for International Settlements (BIS) and, for India, the Ministry of Statistics (MoSPI); annual figures come from the World Bank and the IMF. Different indicators are published at different times, so the periods shown can differ.

Frequently asked questions

What is the GDP growth rate of Turkey?
The latest GDP growth rate of Turkey is 2.6% (Q2 2026), compared with 2.6% in the previous period. Source: OECD — Organisation for Economic Co-operation and Development.
What is the inflation rate of Turkey?
The latest inflation rate of Turkey is 31.5% (Aug 2026), compared with 31.8% in the previous period. Source: Bank for International Settlements (BIS).
What is the interest rate of Turkey?
The latest interest rate of Turkey is 37.00% (Sep 2026), compared with 37.00% in the previous period. Source: Bank for International Settlements (BIS).
What is the unemployment rate of Turkey?
The latest unemployment rate of Turkey is 7.8% (Aug 2026), compared with 8.1% in the previous period. Source: OECD — Organisation for Economic Co-operation and Development.
What is the government debt to GDP ratio of Turkey?
The latest government debt to GDP ratio of Turkey is 23.7% (2025), compared with 23.6% in the previous period. Source: IMF — World Economic Outlook.

Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.