Turkey economy explained

Turkey’s economy explained! Turkey’s economy is the world’s 19th largest by nominal GDP. Turkey’s labor market, standard of living, trade balance in goods and services, the country’s trading partners, government debt, as well as Turkey’s real GDP growth rate in 2021 are presented.


GDP = C + I + G + NX (Gross Domestic Product = Consumption + Investment + Government spending + Net Exports)


GNI (Gross National Income) explained

Sources:


GDP (current US$, 2020):

GNI per capita, Atlas method (2020, current US$):

Unemployment Rate
In Turkey, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Employment in agriculture, industry and

Exports, Imports, Trade balance - 2020 data derived from the ITC (International Trade Centre):


Exports of goods and services (% of GDP, 2020):


Imports of goods and services (% of GDP, 2020):

Government Debt-to-GDP Ratio

Economic Growth
International Monetary Fund - World Economic Outlook, April 2021: Managing Divergent Recoveries