Economy of Turkey

{{Main|Economic history of the Ottoman Empire|Economic history of Turkey}}

File:Turkey_GDP_per_capita_growth_in_time.png

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File:General government net debt as percentage of GDP - European countries.png

The following table shows the main economic indicators from 1980 to 2024 (with IMF staff estimates in 2024–2029). Inflation below 10% is in green.{{Cite web |title=Report for Selected Countries and Subjects |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/weo-report?c=186,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,&sy=2022&ey=2029&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |access-date=2024-12-25 |website=IMF |language=en}}

As of November 2023, there are 1,086,670 registered companies based in Turkey. The sector with the highest number of companies registered in the country is manufacturing with 241,362 companies. This is followed by wholesale trading and services with 197,476 and 187,325 companies respectively.{{cite web | url=https://www.hithorizons.com/eu/analyses/country-statistics/turkey | title=Industry Breakdown of Companies in Turkey | website=HitHorizons | access-date=9 September 2023 | archive-date=4 October 2023 | archive-url=https://web.archive.org/web/20231004011404/https://www.hithorizons.com/eu/analyses/country-statistics/turkey | url-status=dead }}

File:Atatürk_Dam.jpg is the largest of the 22 dams in the Southeastern Anatolia Project. The program includes 22 dams, 19 hydraulic power plants, and the irrigation of 1.82 million hectares of land. The total cost of the project is estimated at $32 billion.]]

{{Excerpt|Agriculture in Turkey|only=paragraphs}}

{{update section|date=April 2019}}

Heavy industry is tending to move out of the EU due to Turkey's laxer pollution regulations and cheaper energy.{{Cite news |title=Turkey's growing power pollution a sign of things to come |website=Reuters |url=https://www.reuters.com/world/middle-east/turkeys-growing-power-pollution-sign-things-come-maguire-2025-02-06/|date=6 February 2025|first=Gavin |last=Macguire|access-date=2025-06-16}}

Turkey's Vestel is the largest TV producer in Europe, accounting for a quarter of all TV sets manufactured and sold on the continent in 2006.{{cite web|url=http://www.businessweek.com/globalbiz/content/jun2006/gb20060609_371863.htm|archive-url=https://web.archive.org/web/20060613161738/http://www.businessweek.com/globalbiz/content/jun2006/gb20060609_371863.htm|url-status=dead|archive-date=13 June 2006|title=The Unknown TV Giant|author=Michael Kuser|work=Bloomberg Businessweek}} By January 2005, Vestel and its rival Turkish electronics and white goods brand Beko accounted for more than half of all TV sets manufactured in Europe.{{cite news|url=http://edition.cnn.com/2005/BUSINESS/01/17/turkey.beko/|access-date=2008-08-29|title=Turkey switches on to TV market|publisher=CNN|date=2005-01-17|first=Jim|last=Boulden|archive-date=13 December 2020|archive-url=https://web.archive.org/web/20201213121003/http://edition.cnn.com/2005/BUSINESS/01/17/turkey.beko/|url-status=dead}} Another Turkish electronics brand, Profilo Telra, was Europe's third-largest TV producer in 2005.{{cite news|url=http://findarticles.com/p/articles/mi_m0EIN/is_2005_August_19/ai_n14927389|archive-url=https://archive.today/20120530095559/http://findarticles.com/p/articles/mi_m0EIN/is_2005_August_19/ai_n14927389|url-status=dead|archive-date=2012-05-30|access-date=2008-08-29 |title=Europe's No. 3 TV Manufacturer, a Private Company: PROFILO-TELRA |date=2005-08-19 |work=Business Wire |publisher=BNET}}

The Turkish textile is the world's fifth largest exporter, accounting for 10% of the country's GDP and employing 750 000 people in 2018. Turkish companies made clothing exports worth $13.98 billion in 2006; more than $10.67 billion of which (76.33%) were exported to the European Union."[http://www.itkib.org.tr/en_new/reports/clothing_2006_annual_report.pdf The Export Performance of the Turkish Clothing Industry in 2006] {{webarchive|url=https://web.archive.org/web/20071128170222/http://www.itkib.org.tr/en_new/reports/clothing_2006_annual_report.pdf |date=2007-11-28 }}," ITKIB

{{Main|Automotive industry in Turkey}}

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The automotive industry in Turkey, which plays an important role in the manufacturing sector of the Turkish economy, produced 1,352,648 motor vehicles in 2022,{{Cite web |title=Türkiye Otomotiv Sanayi 2022 |url=https://www.osd.org.tr/haberler/136 |access-date=2023-12-06 |website=Otomotiv Sanayi Derneği}} ranking as the 13th largest producer in the world (production peaked at 1,695,731 motor vehicles in 2017, when Turkey also ranked 13th).{{Cite web|title=2021 Statistics {{!}} www.oica.net|url=https://www.oica.net/category/production-statistics/2021-statistics/|access-date=2022-08-26|website=oica.net}} Turkish automotive companies like TEMSA, Otokar and BMC are among the world's largest van, bus and truck manufacturers. Togg, or Turkey's Automobile Joint Venture Group Inc. is the first all-electric vehicle company of Turkey.{{Cite web |last=Unveren |first=Burak |date=30 October 2022 |title=Turkey launches TOGG car, Erdogan's prestige project |url=https://www.dw.com/en/turkey-launches-togg-car-erdogans-prestige-project/a-63595678 |access-date=2024-09-24 |website=Deutsche Welle |language=en}}

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| footer = Togg T10X SUV{{cite web|url=https://insideevs.com/news/620213/turkey-national-carmaker-togg-starts-production-2023-c-suv-ev/|title=Turkey's National Carmaker Togg Starts Production Of 2023 C SUV EV|website=insideevs.com|author=Dan Mihalascu|date=4 November 2022}} and Togg T10S sedan produced by Togg,{{cite web|url=https://www.togg.com.tr/|title=TOGG Official Website|publisher=togg.com.tr|accessdate=3 April 2020}} a Turkish automotive company which manufactures EVs{{cite web|url=https://www.autoweek.com/news/green-cars/a30355931/turkey-bets-on-evs-with-the-pininfarina-designed-togg/|title=Turkey Bets on EVs with the Pininfarina-Designed TOGG|author=Jay Ramey|publisher=autoweek.com|date=30 December 2019|access-date=24 May 2020|archive-date=2 June 2022|archive-url=https://web.archive.org/web/20220602194913/https://www.autoweek.com/news/green-cars/a30355931/turkey-bets-on-evs-with-the-pininfarina-designed-togg/|url-status=dead}}{{cite web|url=https://www.trtworld.com/turkey/a-game-changer-t%C3%BCrkiye-inaugurates-its-first-national-car-plant-62068|title='A game changer': Türkiye inaugurates its first national car plant|publisher=TRT World|date=30 October 2022}}

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The automotive industry is an important part of the economy since the late 1960s. The companies that operate in the sector are mainly located in the Marmara Region. With a cluster of car-makers and parts suppliers, the Turkish automotive sector has become an integral part of the global network of production bases, exporting over $22.94 billion worth of motor vehicles and components in 2008.{{cite web |url=http://www.haberler.com/otomotiv-ihracati-2008-de-22-milyar-944-milyon-haberi/ |title=Otomotiv İhracatı 2008'de 22 Milyar 944 Milyon Dolara Ulaştı |publisher=Haberler |access-date=2011-08-29 |archive-date=8 December 2015 |archive-url=https://web.archive.org/web/20151208102218/http://www.haberler.com/otomotiv-ihracati-2008-de-22-milyar-944-milyon-haberi/ |url-status=dead }}{{cite web |author=29.08.2011 Pazartesi 15:58 |url=https://www.bankakredim.net/2008-otomotiv-ihracati-rekor-kirdi/ |title=2008'de otomotiv ihracatı rekor kırdı |publisher=bankakredimnet |access-date=2011-08-29 |archive-url=https://web.archive.org/web/20170313124254/https://www.bankakredim.net/2008-otomotiv-ihracati-rekor-kirdi/ |archive-date=2017-03-13 |url-status=dead }}

Global car manufacturers with production plants include Fiat/Tofaş, Oyak-Renault, Hyundai, Toyota, Honda and Ford/Otosan. Turkish automotive companies like TEMSA, Otokar and BMC are among the world's largest van, bus and truck manufacturers.{{Citation needed|date=September 2023|reason=Need independent reliable source}} Togg is a new Turkish automotive company established in 2018 for producing EVs.{{cite web|url=https://www.togg.com.tr/|title=TOGG Official Website|publisher=togg.com.tr|access-date=3 April 2020}} Togg's factory in Gemlik, Bursa Province, was inaugurated on 29 October 2022, the 99th anniversary of the Turkish Republic.

Turkey's annual auto exports, including trucks and buses, surpassed 1 million units for the first time in 2016 as foreign automakers' investment in new models and a recovery in its mainstay European market lifted shipments. According to the industry group Automotive Manufacturers Association (OSD), Turkey-based car plants exported 1.14 million units in 2016, up 15% from the year before.{{Cite web |last=Sano |first=Akihito |date=15 February 2017 |title=Turkish auto exports hit 1m for first time in 2016 |url=https://asia.nikkei.com/Business/Turkish-auto-exports-hit-1m-for-first-time-in-2016 |access-date=2024-09-24 |website=Nikkei Asia |language=en-GB}} Auto exports hit a record high for the fourth straight year. Production grew 9% year on year in 2016 to 1.48 million units, setting a new record for the second consecutive year. Nearly 80% of vehicles produced in Turkey were exported.{{cite web|url=http://asia.nikkei.com/Politics-Economy/Economy/Turkish-auto-exports-hit-1m-for-first-time-in-2016/|title=Turkish auto exports hit 1m for first time in 2016|website=Nikkei Asian Review}}

File:M8 Metro Line.jpg's M8 line is among the new lines with fully automated driverless trains and platform screen doors for increasing passenger safety.]]

TÜLOMSAŞ (1894), TÜVASAŞ (1951) and EUROTEM (2006) are among the major producers of multiple unit trains, locomotives and wagons in Turkey, including high-speed EMU and DMU models.{{Citation needed|date=September 2023|reason=Need independent reliable source}}

Bozankaya is a Turkish manufacturer of rolling stock including metro, tram and trolleybus vehicles in Ankara.

{{Main|Defense industry of Turkey}}

File:IMG-TAI-TFX.jpg, a twin engine fifth generation air superiority fighter, completed its maiden flight on February 21, 2024.{{cite web|url=https://www.twz.com/unique-sensor-setup-emerges-on-turkeys-stealthy-new-fighter|title=Unique Sensor Setup Emerges On Turkey's Stealthy New Fighter|website=twz.com|author=Joseph Trevithick|date=10 January 2023}}{{cite web|url=https://www.twz.com/our-first-full-look-at-turkeys-new-tf-x-stealthy-fighter|title=Our First Full Look At Turkey's New TF-X Stealthy Fighter|website=twz.com|author=Joseph Trevithick|date=17 March 2023}}{{cite web|url=https://www.aerotime.aero/articles/turkey-kaan-fighter-test|title=Turkey's KAAN fifth-gen fighter jet conducts first test flight|publisher=Aerotime|author=Clément Charpentreau|date=21 February 2024}}{{cite web|url=https://aviationweek.com/defense/aircraft-propulsion/turkish-kaan-fighter-jet-makes-much-anticipated-second-flight|title=Turkish Kaan Fighter Jet Makes Much-Anticipated Second Flight|publisher=Aviation Week|author=Tony Osborne|date=7 May 2024}} TAI Anka-3, a flying wing type stealth UCAV, completed its maiden flight on December 28, 2023.{{cite web|url=https://www.youtube.com/watch?v=fAnxwJk0h10|title=Turkey's ANKA III Fighter Drone Makes Debut Flight|publisher=Bloomberg Television|date=29 December 2023}}{{cite web|url=https://www.bloomberg.com/news/articles/2023-12-29/turkey-s-stealth-drone-anka-3-makes-debut-flight-with-ukraine-engine|title=Turkish Stealth Drone Makes Debut Flight After Years of Secrecy|publisher=Bloomberg|date=29 December 2023}}]]

File:TCG Anadolu (L-400) on the Bosphorus (cropped).jpg during the naval parade for celebrating the centennial of the Turkish Republic on October 29, 2023. Baykar Bayraktar TB3{{Cite web |last=Trevithick |first=Joseph |date=2024-11-19 |title=TB3 Operates From Turkey's 'Drone Carrier' Amphibious Assault Ship For The First Time |url=https://www.twz.com/air/tb3-drone-lands-takes-off-from-turkeys-drone-carrier-amphibious-assault-ship |access-date=2024-11-19 |website=The War Zone |language=en-US}}{{cite web|url=https://baykartech.com/en/press/bayraktar-tb3-uav-successfully-continues-ship-tests/|title=Bayraktar TB3 UAV successfully continues ship tests|website=baykartech.com|publisher=Baykar Technology|date=26 November 2024}}{{cite web|url=https://www.youtube.com/watch?v=cPS5Mv8tvXQ|title=Bayraktar TB3 PT-2 59th Test|publisher=Baykar Technology|date=26 November 2024}} and the jet-powered, low-observable Baykar MIUS Kızılelma are two UCAVs designed to operate on TCG Anadolu.{{cite web|url=https://www.twz.com/turkeys-drone-carrier-amphibious-assault-ship-enters-service|title=Turkey's 'Drone Carrier' Amphibious Assault Ship Enters Service|author=Emma Helfrich|website=thedrive.com|date=11 April 2023}}{{cite web|url=https://www.navalnews.com/naval-news/2022/05/here-is-how-uavs-will-be-recovered-aboard-tcg-anadolu/|title=Here Is How UAVs Will Be Recovered Aboard TCG Anadolu|website=navalnews.com|publisher=Naval News|author=Tayfun Özberk|date=1 May 2022}}{{cite web|url=https://www.youtube.com/watch?v=_vS5zTOAqZE|title=Flight of the Baykar MIUS Kızılelma UCAV at Teknofest 2023|publisher=Savunma Sanayii|date=30 April 2023}}{{cite web |url=https://www.youtube.com/watch?v=IxVpXGf8e8I |title=Bayraktar Kızılelma's Formation Flights – A First in Aviation History |publisher=Baykar Technologies|date=5 June 2023}} The construction of the first MUGEM-class aircraft carrier began on January 2, 2025.{{cite web|url=https://www.navalnews.com/naval-news/2025/01/turkish-navy-starts-construction-of-3-major-projects-mugem-aircraft-carrier-tf-2000-destroyer-and-milden/|title=Turkish Navy starts construction of 3 major projects: MUGEM Aircraft Carrier, TF-2000 Destroyer, MILDEN Submarine|author=Tayfun Ozberk|publisher=Naval News|website=navalnews.com|date=2 January 2025}}]]Turkey has many modern armament manufacturers. Annual exports reached $1.6 billion in 2014.{{cite news|url=http://www.milliyet.com.tr/savunma-sanayi-ihracat-artisi-turkiye-istanbul-yerelhaber-644220/|title=Savunma Sanayi İhracat Artışı, Türkiye Ortalamasının Dört Katından Fazla Oldu|newspaper=Milliyet|access-date=27 February 2015}} MKEK, TAI, Aselsan, Roketsan, FNSS, Nurol Makina, Otokar, and Havelsan are major manufacturers. On 11 July 2002, Turkey became a Level 3 partner of the F-35 Joint Strike Fighter (JSF) development program. TAI builds various aircraft types and models, such as the F-16 Fighting Falcon for the Turkish Air Force.{{cite news |url=https://www.reuters.com/article/tnBasicIndustries-SP/idUSL114958220070511 |title=Turkey signs $1.78 bln deal to buy warplanes |work=Reuters| date=11 May 2007}}{{cite web |url=http://www.f-16.net/news_article2325.html |work=F-16.net |title=Turkey signs contract to buy 30 F-16 block 50+ jets}} Turkey has recently launched domestically built new military/intelligence satellites including a 0.8m resolution reconnaissance satellite (Project Göktürk-1) for use by the Turkish Armed Forces and a 2m resolution reconnaissance satellite (Project Göktürk-2) for use by the Turkish National Intelligence Organization.{{Citation needed|date=September 2023|reason=Need independent reliable source}}

Other important products include the TAI TF Kaan, TF2000-class destroyer, Milgem class corvette, Baykar MIUS Kızılelma UCAV, Baykar Akıncı HALE UCAV, Baykar Bayraktar TB2 MALE UCAV, TAI Aksungur MALE UCAV, TAI Anka MALE UAV/UCAV, Aselsan İzci UGV, Altay main battle tank, T-155 Fırtına self-propelled howitzer, J-600T missile, T-129 attack helicopter, A400M, Roketsan UMTAS anti-tank missile, Roketsan Cirit laser-guided rocket, Panter howitzer, ACV-300, Otokar Cobra and Akrep, BMC Kirpi, FNSS Pars 6x6 and 8x8 APC, Nurol Ejder 6x6 APC, TOROS artillery rocket system, Bayraktar Mini UAV, ASELPOD, and SOM cruise missile.{{Citation needed|date=September 2023|reason=Need independent reliable source}}

Turkey ranks 8th in the list of countries by steel production. In 2013, total steel production was 35.134 million tonnes.{{Cite web |title=İstatıstıkler |url=https://www.cib.org.tr/tr/istatistikler.html |access-date=2023-12-06 |website=Turkish Steel Exporters Association |language=tr}} Turkey's crude steel production reached a record high of 34.1 million tons in 2011.{{cite web|url=http://www.dcud.org.tr/en/page.asp?id=30|title=Turkish Steel Producers Association|author=Turkish Steel Producers Association|work=dcud.org.tr|url-status=dead|archive-url=https://web.archive.org/web/20140109224504/http://www.dcud.org.tr/en/page.asp?id=30|archive-date=2014-01-09}}

Notable producers (above 2 million tonnes) and their ranks among top steel producing companies.{{cite web|url=http://www.gozlemgazetesi.com/671-en-buyuk-celik-ureticileri-listesine-turkiye-damgasi.html|title=Gözlem Gazetesi|author=Gözlem Gazetesi|work=gozlemgazetesi.com|url-status=dead|archive-url=https://web.archive.org/web/20111104042043/http://www.gozlemgazetesi.com/671-en-buyuk-celik-ureticileri-listesine-turkiye-damgasi.html|archive-date=2011-11-04}}

• Erdemir (7.1 million tonnes) (47th) (Only Erdemir-Turkey; Erdemir-Romania is not included)
• Habaş (4.4 million tonnes) (72nd)
• İçdaş (3.6 million tonnes) (76th)
• Diler (2.3 million tonnes) (108th)
• Çolakoğlu (2.1 million tonnes) (110th)

{{Main|Science and technology in Turkey}}

Turkey boasts over 80 technoparks where around 6,000 national and multinational companies engage in R&D activities.{{cite web|title=Developing an Innovation-Oriented Society|url=https://horasis.org/developing-an-innovation-oriented-society/|website=horasis.org|publisher=Horasis|author=Frank-Jürgen Richter|author-link=Frank-Jürgen Richter|date=20 September 2023|access-date=14 October 2023}} TÜBİTAK is the leading agency for developing science, technology and innovation policies in Turkey.{{cite web|url=http://www.tubitak.gov.tr/en/about-us/content-who-we-are|title=Who We Are? – The Scientific and Technological Research Council of Turkey|work=tubitak.gov.tr}} The Turkish Academy of Sciences is an autonomous scholarly society acting to promote scientific activities in Turkey.{{cite web|url=http://www.tuba.gov.tr/content/amac/id/212/pid/43/mid/49/|title=Türkiye Bilimler Akademisi|work=tuba.gov.tr|access-date=2014-02-17|archive-url=https://web.archive.org/web/20140221214423/http://www.tuba.gov.tr/content/amac/id/212/pid/43/mid/49/|archive-date=2014-02-21|url-status=dead}} TAEK is the official nuclear energy institution of Turkey. Its objectives include academic research in nuclear energy, and the development and implementation of peaceful nuclear tools.{{cite web|url=http://www.taek.gov.tr/en/institutional/mission-of-taek.html |title=Turkish Atomic Energy Authority – Mission of TAEK |access-date=2014-08-09 |url-status=dead |archive-url=https://web.archive.org/web/20140608145555/http://www.taek.gov.tr/en/institutional/mission-of-taek.html |archive-date=2014-06-08 }}

Turkish government companies for research and development in military technologies include Turkish Aerospace Industries, ASELSAN, HAVELSAN, ROKETSAN, MKE, among others. Turkish Satellite Assembly, Integration and Test Center is a spacecraft production and testing facility owned by the Ministry of National Defence and operated by the Turkish Aerospace Industries. The Turkish Space Launch System is a project to develop the satellite launch capability of Turkey. It consists of the construction of a spaceport, the development of satellite launch vehicles as well as the establishment of remote earth stations.{{cite web|url=http://www.ssm.gov.tr/home/projects/Sayfalar/proje.aspx?projeID=222|publisher=Undersecretariat for Defence Industries|title=Space Launch System Project|access-date=2013-12-20|url-status=dead|archive-url=https://web.archive.org/web/20131220135241/http://www.ssm.gov.tr/home/projects/Sayfalar/proje.aspx?projeID=222|archive-date=2013-12-20}}{{cite news|url=http://www.defensenews.com/article/20130728/DEFREG04/307280004/Turkey-s-Sat-Launcher-Plans-Raise-Concerns |newspaper=Defense News |title=Turkey's Sat-Launcher Plans Raise Concerns |author=Bekdil, Burak Ege |date=2013-07-28 |access-date=2013-12-20 |url-status=dead |archive-url=https://archive.today/20130830224731/http://www.defensenews.com/article/20130728/DEFREG04/307280004/Turkey-s-Sat-Launcher-Plans-Raise-Concerns |archive-date=2013-08-30 }}{{cite news|url=http://www.defensenews.com/article/20131212/DEFREG01/312120022/Turkey-Spends-Big-Innovation |newspaper=Defense News |title=Turkey Spends Big on Innovation |author=Bekdil, Burak Ege |date=2013-12-12 |access-date=2013-12-20 |url-status=dead |archive-url=https://archive.today/20131220150620/http://www.defensenews.com/article/20131212/DEFREG01/312120022/Turkey-Spends-Big-Innovation |archive-date=2013-12-20 }}{{Obsolete source|date=September 2024}}

{{Main|Turkish construction and contracting industry}}

The Turkish construction and contracting industry is made up of a large number of businesses. In 2016 a total of 39 Turkish construction and contracting companies were listed in the Top 250 International Contractors List prepared by the Engineering News-Record.{{cite web|url=http://www.hurriyetdailynews.com/turkish-contractors-rank-second-in-world-for-ninth-straight-year-103260 |title=Turkish contractors rank second in world for ninth straight year |date=26 August 2016 |access-date=2018-08-19}}{{cite web|url=https://www.enr.com/toplists/2016-Top-250-International-Contractors1 |title=The Top 250 International Contractors |publisher=Enr.construction.com |date=2016-08-24 |access-date=2018-08-19}} From the beginning of the 1970s to the end of 2022, Turkish contractors have completed more than 11,605 projects in 133 countries.{{cite web|url=https://www.tmb.org.tr/en|title=Turkish International Contracting Services, 1972-2022|publisher=Turkish Contractors Association|access-date=14 January 2024}} Their business volume abroad has reached 472 billion US Dollars in 2022.

{{wide image|File:Istanbul Financial Center and the skyline of the Atasehir district on the Asian side of Istanbul.jpg|900px|align-cap=center|IFC and the skyline of Ataşehir district on the Asian side of Istanbul. The construction sector plays an important role in Turkey's economy.}}

As Turkey is prone to strong earthquakes, the buildings that were constructed before the post-1999 safety standards and regulations remain a major concern, with many ongoing urban redevelopment and reconstruction projects, especially in large cities. In 2019, an amnesty plan to register illegally constructed buildings for generating extra tax revenues to the government brought in $3.1 billion, but the plan was criticized for ignoring safety issues.{{cite news|url=https://www.reuters.com/article/us-turkey-construction-idUSKCN1QF1VU|title=Turkish cities could become 'graveyards' with building amnesty|date=26 February 2019|access-date=11 March 2019|work=Reuters|last1=Caglayan|first1=Birsen Altayli}} The two major earthquakes on February 6, 2023, in southern Turkey have revealed that some of the recently built structures that collapsed were not constructed in accordance with the latest safety regulations.{{Cite web |date=2024-02-05 |title=Turkey-Syria earthquakes: deficiencies in building structures and construction shortcuts were main cause of casualties {{!}} University of Cambridge |url=https://www.cam.ac.uk/research/news/new-report-into-turkey-syria-earthquakes-uncovers-deficiencies-in-building-structures-and |access-date=2024-09-14 |website=www.cam.ac.uk |language=en}}

{{Main|Banking in Turkey}}

File:IFM Görsel (cropped).jpg and other state-owned banks such as Ziraat Bank, VakıfBank and Halkbank have their new headquarters at the Istanbul Financial Center (IFC) in Ataşehir.{{cite web|url=https://www.aa.com.tr/en/economy/istanbul-finance-center-opens-with-inauguration-of-banking-section/2874556|title=Istanbul Finance Center opens with inauguration of banking section|author=Tuba Ongun|publisher=Anadolu Agency|date=17 April 2023}}{{cite web|url=https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iNU2UmulMILU/v0/-1x-1.jpg|title=Image of the Istanbul Financial Center|website=bloomberg.com|date=10 May 2023}}{{cite web|url=https://ifm.gov.tr/properties|title=Istanbul Financial Center: Properties|website=ifm.gov.tr|access-date=13 May 2023}}]]

During the 19th and early 20th centuries, Bankalar Caddesi (Banks Street) in Istanbul was the financial center of the Ottoman Empire, where the headquarters of the Ottoman Bank (established as the Bank-ı Osmanî in 1856, and later reorganized as the Bank-ı Osmanî-i Şahane in 1863){{cite web|url=http://www.obarsiv.com/ob-tarih.html |title=Ottoman Bank Museum: History of the Ottoman Bank |publisher=Obarsiv.com |access-date=2011-08-29 |url-status=dead |archive-url=https://web.archive.org/web/20120614105241/http://www.obarsiv.com/ob-tarih.html |archive-date=2012-06-14 }} and the Ottoman Stock Exchange (1866) were located.{{cite web|url=http://www.obmuze.com/eng/voyvoda.asp|title=Ottoman Bank Museum|publisher=Ottoman Bank Museum|access-date=2009-06-18|url-status=dead|archive-url=https://web.archive.org/web/20090518102012/http://www.obmuze.com/eng/voyvoda.asp|archive-date=2009-05-18}} Bankalar Caddesi continued to be Istanbul's main financial district until the 1990s, when most Turkish banks began moving their headquarters to the modern central business districts of Levent and Maslak.

Originally established as the Ottoman Stock Exchange (Dersaadet Tahvilat Borsası) in 1866, and reorganized to its current structure at the beginning of 1986, the Istanbul Stock Exchange (ISE) is the sole securities market of Turkey.{{cite web|url=http://www.imkb.gov.tr/genel/tarih.htm |title=Istanbul Stock Exchange: History of the Istanbul Stock Exchange |publisher=Imkb.gov.tr |access-date=2011-08-29 |url-status=dead |archive-url=https://web.archive.org/web/20120225094722/http://www.imkb.gov.tr/genel/tarih.htm |archive-date=2012-02-25 }} In 1995, the Istanbul Stock Exchange moved to its current building in the Istinye quarter.{{cite web|url=http://www.imkb.gov.tr/genel/gelismeler.htm |title=Istanbul Stock Exchange: "İMKB'nin Kuruluşundan İtibaren Önemli Gelişmeler" (Timeline of important events since 1985) |publisher=Imkb.gov.tr |access-date=2011-08-29 |url-status=dead |archive-url=https://web.archive.org/web/20120225094814/http://www.imkb.gov.tr/genel/gelismeler.htm |archive-date=2012-02-25 }} The Istanbul Gold Exchange was also established in 1995.

The Central Bank of the Republic of Turkey (Türkiye Cumhuriyet Merkez Bankası) was founded in 1930 as a privileged joint-stock company. The CBRT possesses the sole right to issue notes. It also has the obligation to provide for the monetary requirements of the state agricultural and commercial enterprises.

The "New Turkish lira" (TRY) was introduced on 1 January 2005.{{cite news|url=http://news.bbc.co.uk/2/hi/business/4137469.stm |title=Turkey knocks six zeros off lira|publisher=BBC|access-date=2008-07-20|date=2004-12-31}} On 1 January 2009, the New Turkish lira was renamed once again as the "Turkish lira", with the introduction of new banknotes and coins.

Banking came under stress beginning in October 2008, as a result of the 2008 financial crisis. Turkish banking authorities warned state-run banks against the pullback of loans from the larger financial sectors.[http://bankrun.us/forums/index.php?topic=10.0 Turkey warns against potential Bank Runs] {{webarchive |url=https://web.archive.org/web/20111005085455/http://bankrun.us/forums/index.php?topic=10.0 |date=5 October 2011 }}

File:Ankara from bus station.jpg business district in Ankara, Turkey's capital and second largest city]]

Turkey's economy resumed its growth between 2009 and 2013, which was followed by a period of stagnation and recession between 2014 and 2020. Turkey's GDP began to recover and grow again in the period between 2020 and 2024.

In 2020, the total value of assets of the banking sector in Turkey amounted to more than $800 billion.{{cite web |title=Leading banks in Turkey by total assets, 2020|url=https://www.statista.com/statistics/857299/leading-banks-in-turkey/ |website=Statista |access-date=14 January 2024|language=en}} As of January 2021, there were a total of 48 banks operating with 9,880 branches in Turkey and 71 branches abroad.{{cite web |title=Banking System in Turkey |url=https://www.allaboutturkey.com/banks.html |website=www.allaboutturkey.com |access-date=14 January 2024}} {{as of|2021|October}}, the foreign currency deposits of the citizens and residents in Turkish banks stood at $234 billion, equivalent to around half of all deposits.{{cite web|url=https://www.bloomberg.com/news/articles/2021-10-14/the-fate-of-turkey-s-battered-lira-hangs-with-local-investors|title=The Fate of Turkey's Battered Lira Hangs With Local Investors|publisher=Bloomberg|website=bloomberg.com|date=14 October 2021}}{{cite web|url=https://www.aljazeera.com/economy/2021/10/14/turkish-lira-falls-out-of-favour-with-local-investors-again|title=Turkish lira falls out of favour with local investors again|publisher=Al Jazeera|website=aljazeera.com|date=14 October 2021}} {{as of|2024|October}}, the foreign currency reserves of the Turkish Central Bank were $85 billion, its gold reserves were $67.4 billion, while its official reserve assets stood at $159.8 billion.{{cite web|url=https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Statistics/Balance+of+Payments+and+Related+Statistics/International+Reserves+and+Foreign+Currency+Liquidity/|title=International Reserves and Foreign Currency Liquidity - October 2024|publisher=Central Bank of the Republic of Turkey|website=tcmb.gov.tr|access-date=5 December 2024}}

{{Main|Transport in Turkey}}

File:Turkish Airlines 1350321.jpg, flag carrier of Turkey, has been selected by Skytrax as Europe's best airline for five years in a row (2011–2015).{{cite web|url=http://www.worldairlineawards.com/Awards_2012/europe.htm |title=Turkish Airlines is named the Best Airline in Europe at the 2012 World Airline Awards held at Farnborough Air Show |publisher=Skytrax |date=12 July 2012 |access-date=25 April 2013 |url-status=dead |archive-url=https://web.archive.org/web/20130425042957/http://www.worldairlineawards.com/awards_2012/europe.htm |archive-date=25 April 2013 }}{{cite web|url=http://www.hurriyetdailynews.com/turkish-airlines-named-best-airline-in-europe-for-fifth-year-in-a-row.aspx?PageID=238&NID=84117&NewsCatID=345|title=Turkish Airlines named best airline in Europe for fifth year in a row – BUSINESS|date=17 June 2015 }} With destinations in 129 countries worldwide, Turkish Airlines is the largest carrier in the world by number of countries served {{As of|2024|lc=y}}.{{cite web|title=Turkish Airlines: International Flight Destinations|url=http://www.turkishairlines.com/en-int/flights-tickets/flights-destinations/|url-status=dead|archive-url=https://web.archive.org/web/20160519093619/http://www.turkishairlines.com/en-int/flights-tickets/flights-destinations|archive-date=19 May 2016|access-date=22 June 2016|publisher=Turkish Airlines}}]]

File:İstanbul_Havalimanı_Airport_2019_24.jpg is the main international airport serving Istanbul, Turkey. It is a major hub in the world.]]

In 2013 there were ninety-eight airports in Turkey,{{cite web|url=https://www.cia.gov/the-world-factbook/countries/turkey/|archive-url=https://web.archive.org/web/20210110073821/https://www.cia.gov/the-world-factbook/countries/turkey|url-status=dead|archive-date=10 January 2021|title=CIA World Factbook: Turkey|access-date=2014-11-17}} including 22 international airports.{{cite web|url=http://www.studyinturkey.org/en/discover-turkey/first-step-to-turkey/international-airports/ |archive-url=https://web.archive.org/web/20131225064653/http://www.studyinturkey.org/en/discover-turkey/first-step-to-turkey/international-airports/ |url-status=dead |archive-date=2013-12-25 |title=Study in Turkey: International Airports in Turkey |access-date=2014-11-17 }} {{As of|2015}}, Istanbul Atatürk Airport is the 11th busiest airport in the world, serving 31,833,324 passengers between January and July 2014, according to Airports Council International.{{cite web |url=http://www.aci.aero/Data-Centre/Monthly-Traffic-Data/Passenger-Summary/Year-to-date |title=Year to date Passenger Traffic |publisher=ACI |date=2014-09-25 |access-date=2014-09-25 |archive-date=13 August 2018 |archive-url=https://web.archive.org/web/20180813170044/http://www.aci.aero/Data-Centre/Monthly-Traffic-Data/Passenger-Summary/Year-to-date |url-status=dead }} The new (third) international airport of Istanbul is planned to be the largest airport in the world, with a capacity to serve 150 million passengers per annum.{{cite web|url=http://www.dhmi.gov.tr/haberler.aspx?HaberID=1451|title=It will be the biggest airport of the world|date=2013-01-24|access-date=2013-01-24|archive-url=https://web.archive.org/web/20130129004331/http://www.dhmi.gov.tr/haberler.aspx?HaberID=1451|archive-date=2013-01-29|url-status=dead}}{{cite web|url=http://www.newsweek.com/istanbuls-new-erdogan-backed-airport-be-named-after-erdogan-264580|title=Istanbul's New Erdoğan-Backed Airport to Be Named After... Erdoğan|website=Newsweek|date=14 August 2014}}{{cite web|url=http://www.ibtimes.co.uk/erdogan-airport-istanbuls-super-hub-be-named-after-turkeys-president-elect-1461166|title=Erdogan Airport: Istanbul's Super Hub 'to be Named After Turkey's President-Elect'|author=Gianluca Mezzofiore|work=International Business Times UK|date=14 August 2014}}

File:1915 Çanakkale Bridge 20220327.jpg on the Dardanelles strait, connecting Europe and Asia, is the longest suspension bridge in the world.{{cite web|url=https://www.theb1m.com/video/turkey-has-built-the-worlds-longest-suspension-bridge|title=Turkey Has Built the World's Longest Suspension Bridge|publisher=The B1M|author=Tim Gibson|date=11 May 2022}}{{cite web|url=https://www.youtube.com/watch?v=BzrdNIsGVc0|title=Why Turkey Built the World's Longest Suspension Bridge|date=11 May 2022 |publisher=The B1M|access-date=22 May 2022}}{{cite news |url=http://www.hurriyetdailynews.com/groundbreaking-ceremony-for-bridge-over-dardanelles-to-take-place-on-march-18.aspx?pageID=238&nID=110948&NewsCatID=345 |newspaper=Hürriyet Daily News |title=Groundbreaking ceremony for bridge over Dardanelles to take place on March 18 |date=2017-03-17 |access-date=22 May 2022}}]]

The state-owned utility Turkish State Railways operates the 12,740–km railway network, 23rd longest in the world. Since 2003, Turkish State Railways has also been investing in high-speed rail lines, which at 2,175 km (1,353 mi) ranked ninth longest in the world.{{cite book |last1=Heper |first1=Metin |title=Historical Dictionary of Turkey |date=2018}}

File:YHT train at Ankara railway station.jpg high-speed train of the Turkish State Railways at the ATG terminal in Ankara]]

As of 2010, the country had a roadway network of 426,951 km, including 2,080 km of expressways and 16,784 km of divided highways.{{cite web|url=http://www.kgm.gov.tr/Sayfalar/KGM/SiteTr/Kurumsal/YolAgi.aspx|title=Karayolları Genel Müdürlüğü|work=kgm.gov.tr|access-date=10 December 2011|archive-date=9 November 2016|archive-url=https://web.archive.org/web/20161109030650/http://www.kgm.gov.tr/Sayfalar/KGM/SiteTr/Kurumsal/YolAgi.aspx|url-status=dead}}

As of 2010, the Turkish merchant marine included 1,199 ships (604 registered at home), ranking 7th in the world. Turkey's coastline has 1,200 km of navigable waterways.

In 2008, {{convert|7555|km}} of natural gas pipelines and {{convert|3636|km}} of petroleum pipelines spanned the country's territory.

{{Main|Communications in Turkey}}

As of 2008, there were 17,502,000 operational landline telephones in Turkey, which ranked 18th in the world;{{cite web|url=https://www.cia.gov/the-world-factbook/countries/turkey/ |archive-url=https://web.archive.org/web/20210110073821/https://www.cia.gov/the-world-factbook/countries/turkey |url-status=dead |archive-date=10 January 2021 |title=CIA World Factbook: Turkey |publisher=Cia.gov |access-date=2011-08-29}} while there were 65,824,000 registered mobile phones in the country, which ranked 15th in the world during the same year. The largest landline telephone operator is Türk Telekom, which also owns TTNET, the largest internet service provider in Turkey.{{Citation needed|date=September 2023|reason=Need independent reliable source}} The largest mobile phone operators in the country are Turkcell, Vodafone Turkey, Avea and TTNET Mobil.{{Citation needed|date=September 2023|reason=Need independent reliable source}}

The telecommunications liberalisation process started in 2004 after the creation of the Telecommunication Authority, and is still ongoing.{{Citation needed|date=September 2023|reason=Need independent reliable source}} Private sector companies operate in mobile telephony, long-distance telephony and Internet access. Additional digital exchanges are permitting a rapid increase in subscribers;{{Citation needed|date=September 2023|reason=Need independent reliable source}} the construction of a network of technologically advanced intercity trunk lines, using both fiber-optic cable and digital microwave radio relay, is facilitating communication between urban centres.

The remote areas of the country are reached by a domestic satellite system, while the number of subscribers to mobile-cellular telephone service is growing rapidly.

The main line international telephone service is provided by the SEA-ME-WE 3 submarine communications cable and by submarine fiber-optic cables in the Mediterranean Sea and Black Sea that link Turkey with Italy, Greece, Israel, Bulgaria, Romania, and Russia. In 2002, there were 12 Intelsat satellite earth stations; and 328 mobile satellite terminals in the Inmarsat and Eutelsat systems.

Türksat A.Ş. is the primary communications satellite operator of Turkey, controlling the Turksat series of satellites. Göktürk-1, Göktürk-2 and Göktürk-3 are Turkey's earth observation satellites for reconnaissance, operated by the Turkish Ministry of National Defense. BILSAT-1 and RASAT are the scientific observation satellites operated by the TÜBİTAK Space Technologies Research Institute, which (together with Turkish Aerospace Industries and Aselsan) also takes part in the production of Turkey's satellites.{{Citation needed|date=September 2023|reason=Need independent reliable source}}

As of 2001, there were 16 AM, 107 FM, and 6 shortwave radio stations in the country.{{Update inline|date=May 2024|reason=This data is almost a quarter century old.}}

As of 2015, there were 42,275,017 internet users in Turkey, which ranked 15th in the world; while as of 2012, there were 7,093,000 internet hosts in the country, which ranked 16th in the world.

{{Main|Tourism in Turkey}}In 2023, Turkey was the fifth most visited destination in the world, with 55.2 million foreign tourists visiting the country.{{Cite web |title=Tourism on Track for Full Recovery as New Data Shows Strong Start to 2023 |url=https://www.unwto.org/news/tourism-on-track-for-full-recovery-as-new-data-shows-strong-start-to-2023 |access-date=14 October 2023 |website=www.unwto.org |language=en}}{{Cite web |title=Global and regional tourism performance |url=https://www.unwto.org/tourism-data/global-and-regional-tourism-performance |access-date=2024-02-02 |website=www.unwto.org}} In 2019, Turkey ranked sixth in the world in terms of the number of international tourist arrivals, with 51.2 million foreign visitors.{{Cite book|title=UNWTO Tourism Highlights: 2019 Edition {{!}} World Tourism Organization|year=2019|doi=10.18111/9789284421152|isbn=978-92-844-2115-2|s2cid=240665765}}

Over the years, Turkey has emerged as a popular tourist destination for many Europeans, competing with other Mediterranean countries such as Greece, Italy and Spain. Resorts in provinces such as Antalya and Muğla (which are located on the Turkish Riviera) have become very popular among tourists.{{cite web|url=https://www.bbc.com/travel/article/20241203-a-turkish-film-and-tv-stars-guide-to-antalya-turkey|title=A Turkish film and TV star's guide to Antalya, Turkey|author=Eva Sandoval|publisher=BBC|website=bbc.com|date=4 December 2024}}

{{Main|Health care in Turkey}}

File:BaşakşehirCityHospital_(1).jpg in Istanbul]]

There are numerous private hospitals in Turkey, which has benefited from medical tourism in recent years. Health tourism generated revenues worth $1 billion in 2019 for Turkey's economy. A total of 662,087 patients were treated at Turkish hospitals in 2019 within the scope of health tourism, with around 60% of the income being obtained from plastic surgeries.{{cite news|url=https://www.dailysabah.com/business/tourism/health-tourism-earns-above-1b-to-turkey-in-2019-under-spotlight-with-covid-19|access-date=2021-04-08 |title=Health tourism earns above $1B to Turkey in 2019, under spotlight with COVID-19|date=2020-08-20|work=Daily Sabah |publisher=Daily Sabah}}

{{main|List of companies of Turkey}}

In 2024, ten publicly traded Turkish companies were listed in the Forbes Global 2000 list – an annual ranking of the top 2000 public companies in the world by Forbes magazine.{{Cite web |author= |date=6 June 2024 |title=The Global 2000 |url=https://www.forbes.com/lists/global2000/ |access-date=2024-06-13 |website=Forbes |language=en}} The banking industry leads with four companies in the list followed by the airline, automotive and retailer with one company each. There are also three conglomerates. As of 2024, the listed public companies were:

{{main|List of countries by GDP (PPP)|List of countries by past and projected GDP (PPP)}}

The following "OECD Long Term Projections" table was published in February 2022 for the 16 largest economies by GDP using PPP exchange rates from 2030 to 2060.{{cite web|title=Economic Outlook No 109 – February 2022 – Long-term baseline projections|url=https://data.oecd.org/gdp/gdp-long-term-forecast.htm|access-date=11 February 2022|archive-date=20 January 2022|archive-url=https://web.archive.org/web/20220120203842/https://data.oecd.org/gdp/gdp-long-term-forecast.htm|url-status=dead}}

{{Static row numbers}}{{mw-datatable}}{{sticky header}}{{sort under}}{{Table alignment}}

{{See also|Free trade agreements of Turkey}}As of 2016, the main trading partners of Turkey are the European Union, Russia, the United Kingdom, the UAE, Iraq, and China, many being top in both export as well as import.{{cite web|url=http://rapor.tuik.gov.tr/reports/rwservlet?disticaretdb2=&report=IHT0151.RDF&p_kod=1&p_ulke1=-1&p_yil1=2012&p_kod1=1&p_kod2=4&p_dil=2&desformat=html&ENVID=disticaretEnv|archive-url=https://archive.today/20121221194510/http://rapor.tuik.gov.tr/reports/rwservlet?disticaretdb2=&report=IHT0151.RDF&p_kod=1&p_ulke1=-1&p_yil1=2012&p_kod1=1&p_kod2=4&p_dil=2&desformat=html&ENVID=disticaretEnv|url-status=dead|archive-date=2012-12-21|title=Foreign Trade Statistics as of October 2012|publisher=Turkish Statistical Institute|access-date=2008-08-29|date=2006-11-30|format=Word document}} Turkey has taken advantage of a customs union with the EU, signed in 1995, to increase industrial production for exports, while benefiting from EU-origin foreign investment into the country.{{cite web|url=http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/05/03/000016406_20060503112446/Rendered/PDF/wps3908.pdf |title=Turkey's evolving trade integration into Pan-European markets |author=Bartolomiej Kaminski |publisher=World Bank |access-date=2008-08-29 |date=2006-05-01 |url-status=dead |archive-url=https://web.archive.org/web/20070614030216/http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/05/03/000016406_20060503112446/Rendered/PDF/wps3908.pdf |archive-date=2007-06-14 }} In addition to the European-Turkish Customs Union, the Turkish government has signed free-trade agreements with 22 countries.{{cite web |title=T.C. Ticaret Bakanlığı |url=https://www.ticaret.gov.tr/dis-iliskiler/serbest-ticaret-anlasmalari/yururlukte-bulunan-stalar |website=ticaret.gov.tr |access-date=8 September 2018 |language=tr}}

A very large aspect of Turkey trade revolves around the automotive industry, where its top exports are cars, accounting for $13.2 billion. Other top exports from the country are gold, delivery trucks, vehicle parts and jewelry, which are respectively, $6.96 billion, $5.04 billion, $4.64 billion, and $3.39 billion. These values are calculated using the 1992 revision of the Harmonized System classification. Comparatively, it imports many of the same industries, such as, gold valued at $17.1 billion, refined petroleum at $9.8 billion, cars at $8.78 billion, vehicle parts at $6.34 billion and scrap iron at $5.84 billion.{{cite web|url=https://oec.world/en/profile/country/tur/|title=OEC – Turkey (TUR) Exports, Imports, and Trade Partners|website=oec.world|language=en|access-date=2019-09-23}}

The construction and contracting companies, such as Enka, Rönesans Holding and Tekfen, have been significant players in the country's economy.{{Cite web |last=Watch |first=Corporate |date=2021-04-29 |title=ENKA: key facts about the Turkish megacorp behind the Rioni Valley dams |url=https://corporatewatch.org/enka-key-facts-about-the-turkish-megacorp-behind-the-rioni-valley-dams/ |access-date=2024-09-05 |website=Corporate Watch |language=en-GB}} As the Turkish emissions trading system has not yet been legislated the country has no carbon price, so large exporters to the European Union will have to pay the EU Carbon Border Adjustment Mechanism from 1 January 2026.{{Cite web |last=Ekonomim |date=2025-05-27 |title=AB'den yeni karar: Firmaların yüzde 90'ı karbon vergisinden muaf olacak |url=https://www.ekonomim.com/kuresel-ekonomi/abden-yeni-karar-firmalarin-yuzde-90i-karbon-vergisinden-muaf-olacak-haberi-820828 |access-date=2025-06-12 |website=Ekonomim |language=tr-TR}}

Turkey had many improvements in the ease of doing business index. Its rank increased from 68th in 2017 to 33rd in 2020. As of 2021, it was performing better than countries like the Netherlands and Belgium.{{Cite web|title=World Bank Group to Discontinue Doing Business Report|url=https://www.worldbank.org/en/news/statement/2021/09/16/world-bank-group-to-discontinue-doing-business-report|access-date=2021-09-16|website=World Bank|language=en}}{{Cite news|last=Zumbrun|first=Josh|date=2021-09-16|title=World Bank Cancels Flagship 'Doing Business' Report After Investigation|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/world-bank-cancels-flagship-doing-business-report-after-investigation-11631811663|access-date=2021-09-16|issn=0099-9660}}{{Cite web|last1=Machen|first1=Ronald|last2=Jones|first2=Matthew|last3=Varghese|first3=George|last4=Stark|first4=Emily|date=15 September 2021|title=Investigation of Data Irregularities in Doing Business 2018 and Doing Business 2020|url=https://thedocs.worldbank.org/en/doc/84a922cc9273b7b120d49ad3b9e9d3f9-0090012021/original/DB-Investigation-Findings-and-Report-to-the-Board-of-Executive-Directors-September-15-2021.pdf|url-status=live|website=World Bank|archive-url=https://web.archive.org/web/20210916154554/https://thedocs.worldbank.org/en/doc/84a922cc9273b7b120d49ad3b9e9d3f9-0090012021/original/DB-Investigation-Findings-and-Report-to-the-Board-of-Executive-Directors-September-15-2021.pdf |archive-date=16 September 2021 }}{{Vague|reason=Multiple sources given, yet they all point out that the 'ease of doing business index' is not reliable|date=May 2024}}

{{Excerpt|Energy in Turkey#Economics}}

{{Excerpt|Renewable energy in Turkey|only=paragraphs}}

{{Excerpt|Natural gas in Turkey}}

{{Excerpt|Oil in Turkey}}

{{Excerpt|Coal in Turkey}}

File:ALİ_EKŞİ_KMPAŞA_BEJİ_-_panoramio.jpg

In 2019, the country was the world's 2nd largest producer of chromium;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-chromium.pdf| title = USGS Chromium Production Statistics}} the largest producer of boron;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-boron.pdf| title = USGS Boron Production Statistics}} 6th largest producer of antimony;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-antimony.pdf| title = USGS Antimony Production Statistics}} 9th largest producer of lead;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-lead.pdf| title = USGS Lead Production Statistics}} 13th largest producer of iron ore;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-iron-ore.pdf| title = USGS Iron Ore Production Statistics}} 11th largest producer of molybdenum;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-molybdenum.pdf| title = USGS Molybdenum Production Statistics}} 4th largest producer of gypsum;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gypsum.pdf| title = USGS Gypsum Production Statistics}} 15th largest producer of graphite;{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-graphite.pdf| title = USGS Graphite Production Statistics}} in addition to being the 11th largest producer of salt.{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-salt.pdf| title = USGS Salt Production Statistics}}

As a gold producer Turkey is currently ranked 22nd globally. Hosting some of the largest gold deposits in the European continent it is currently Europe's largest gold producer, producing 42 tonnes of gold in 2020.{{Cite web|title=Gold Mining Industry {{!}} Turkish Gold Miners Association|url=http://turkishgoldminersassociation.org/madenciligin-onemi/|access-date=2021-10-05|language=en-US}} World class deposits include Kisladag Mine 17Moz and Copler 10Moz.{{Citation needed|date=September 2023|reason=Need independent reliable source}}

{{See also|Environmental issues in Turkey}}Almost all post-covid stimulus was detrimental to the environment, with Russia being the only worse country.{{Cite report|url=https://www.f4b-initiative.net/publications-1/greenness-of-stimulus-index---6th-edition|title=Greenness of Stimulus Index – 6th Edition|date=July 2021|publisher=F4B}} In the 21st century, Turkey's fossil fuel subsidies are around 0.2% of GDP,{{cite journal|last1=Acar|first1=Sevil|last2=Challe|first2=Sarah|last3=Christopoulos|first3=Stamatios|last4=Christo|first4=Giovanna|year=2018|title=Fossil fuel subsidies as a lose-lose: Fiscal and environmental burdens in Turkey|url=https://pdfs.semanticscholar.org/ca3d/038634a2b6bf7886688e17840aa7dc19652d.pdf|url-status=dead|journal=New Perspectives on Turkey|volume=58|pages=93–124|doi=10.1017/npt.2018.7|archive-url=https://web.archive.org/web/20200227003746/https://pdfs.semanticscholar.org/ca3d/038634a2b6bf7886688e17840aa7dc19652d.pdf|archive-date=2020-02-27|s2cid=149594404}}{{Cite report|url=https://about.bnef.com/blog/new-report-finds-g-20-member-countries-support-fossil-fuels-at-levels-untenable-to-achieve-paris-agreement-goals/|title=Climate Policy Factbook|date=2021-07-20|publisher=BloombergNEF|page=29}} including at least US$14 billion (US$169 per person) between January 2020 and September 2021.{{Cite web|title=Turkey|url=https://www.energypolicytracker.org/country/turkey/|access-date=2021-11-15|website=Energy Policy Tracker|language=en-US}} Data on finance for fossil fuels by state-owned banks and export credit agencies is not public.{{Cite report|url=https://about.bnef.com/blog/new-report-finds-g-20-member-countries-support-fossil-fuels-at-levels-untenable-to-achieve-paris-agreement-goals/|title=Climate Policy Factbook|date=2021-07-20|publisher=BloombergNEF|page=32}}

As of 2023 fossil gas is subsidized more than electricity - equalizing the subsidies would benefit the environment.https://shura.org.tr/wp-content/uploads/2023/09/SHURA-2023-08-YO-Elektrifikasyon.pdf {{bare URL PDF|date=February 2024}}

{{Expand section|date=November 2021}}

The minimum wage in Turkey is ₺ 22,104 (US$ 630.36) as of January 1, 2025.{{Cite web |title=Ce qui change en Turquie au 1ᵉʳ janvier 2025 : salaires, taxes et nouvelles règles |url=https://lepetitjournal.com/istanbul/actualites/change-turquie-1r-janvier-2025 |access-date=2025-02-09 |website=lepetitjournal.com |language=fr}}{{Cite web |last=Khandelwal |first=Manish |date=2024-12-25 |title=Turkey Sets New Minimum Wage for 2025: What It Means for Foreign Workers |url=https://travelobiz.com/turkey-sets-new-minimum-wage-for-2025-what-it-means-for-foreign-workers/ |access-date=2025-02-09 |website=travelobiz |language=en-GB}}

TurkStat estimated unemployment at 9.4% in 2023. The province with the highest unemployment rate was Hakkari at 23.3% and the province with the lowest unemployment rate was Sinop at 4.8%.{{Cite web |title=TÜİK Kurumsal |url=https://data.tuik.gov.tr/Bulten/Index?p=Provincial-Level-Labour-Force-Statistics-2023-53838 |access-date=2024-09-03 |website=data.tuik.gov.tr}}

In 2021 trade unions complained that according to TurkStat data the unemployment rate was falling, whereas the data provided by the government's Employment Agency (İŞKUR) showed that it was rising.{{Cite web|title=Unemployment rises according to Employment Agency, TurkStat says the opposite|url=https://m.bianet.org/english/labor/253151-unemployment-rises-according-to-employment-agency-turkstat-says-the-opposite}}{{Update inline|date=May 2024|reason=Has this discrepancy been resolved?|?=yes}} Environmentalists argue that some actions to improve the environment would also benefit the economy. For example, investing in wind power in Turkey and solar power in Turkey would create jobs and is competitive with fossil fuels.{{Cite web|last1=Yilmaz|first1=Onur|last2=Yetisgin|first2=Cansu|date=2020-07-27|title=Turkey's 11th Development Plan Needs to be Updated to Ensure a Green Recovery for Sectors Affected by COVID-19|url=https://www.climatescorecard.org/2020/07/turkeys-11th-development-plan-needs-to-be-updated-to-ensure-a-green-recovery-for-sectors-affected-by-covid-19/|access-date=2020-07-29|website=Climate Scorecard|language=en-US}}

{{main|Poverty in Turkey}}

Turkey made steady progress in reducing poverty from the early 2000s to the mid-2010s, after which the trend levelled off.{{Cite web |title=Poverty & Equity Brief |url=https://databankfiles.worldbank.org/public/ddpext_download/poverty/987B9C90-CB9F-4D93-AE8C-750588BF00QA/current/Global_POVEQ_TUR.pdf|publisher=The World Bank|date=April 2023| author1-first=Samuel |author1-last=Freije-Rodriguez |author2-first= Cigdem |author2-last=Celik}}{{Cite web |title=Turkey TR: Poverty Headcount Ratio at National Poverty Lines: % of Population {{!}} Economic Indicators {{!}} CEIC |url=https://www.ceicdata.com/en/turkey/poverty/tr-poverty-headcount-ratio-at-national-poverty-lines--of-population |access-date=2023-12-26 |website=www.ceicdata.com}}{{Vague|reason=How much has poverty been reduced?date=May 2024|date=June 2025}} In 2022, social security expenditure stood at 12.4% of GDP according to OECD data.{{Cite web | url=https://www.oecd.org/social/expenditure.htm | title=Social Expenditure – Aggregated data|work=Organisation for Economic Co-operation and Development}}

{{See also|List of Turkish provinces by GDP}}

According to Eurostat data, Turkish GDP per capita adjusted by purchasing power standards stood at 64 percent of the EU average in 2018.{{cite web|url=http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&plugin=1&language=en&pcode=tec00114|title=GDP per capita in PPS|publisher=Eurostat|access-date=24 May 2020}} Istanbul has the largest GDP, while Kocaeli comes first in GDP per capita.{{Cite web |title=TÜİK - Coğrafi İstatistik Portalı |url=https://cip.tuik.gov.tr/ |access-date=2024-12-10 |website=cip.tuik.gov.tr}}

The country's wealth is mainly concentrated in the northwest and west, while the east and southeast suffer from poverty, lower economic production and higher levels of unemployment.{{cite news|url=http://www.economist.com/node/17276440?story_id=17276440|title=Anchors aweigh|first=John|last=Peet|date=21 October 2010|newspaper=The Economist|access-date=30 October 2010}} However, in line with the rapid growth of Turkey's GDP during the first two decades of the 21st century (with brief periods of stagnation and recession), parts of Anatolia began reaching a higher economic standard. These cities are known as the Anatolian Tigers.{{Cite web |last1=Atiyas |first1=Izak |last2=Bakis |first2=Ozan |last3=Gurakar |first3=Esra Ceviker |title=Anatolian Tigers and the Emergence of the Devout Bourgeoisie in Turkey |url=https://erf.org.eg/programs/anatolian-tigers-and-the-emergence-of-the-devout-bourgeoisie-in-turkey/?tab=undefined&c=undefined |access-date=2025-04-28 |website=Economic Research Forum}}

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Source: Eurostat – ESAhttps://ec.europa.eu/eurostat/databrowser/view/tgs00005/default/table?lang=en&category=t_na10.t_nama10.t_nama_10reghttps://ec.europa.eu/eurostat/databrowser/view/tgs00006/default/table?lang=en&category=t_na10.t_nama10.t_nama_10reg

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Source: Eurostat – ESA

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• Economic history of Turkey
• National debt of Turkey
• List of companies of Turkey
• List of countries by labour force
• List of countries by real GDP growth rate
• List of countries by total wealth
• Ista-Burs Megaregion

{{notelist}}

{{Reflist}}

• {{Cite report |title=Turkey Energy Outlook |first1=Carmine |last1=Difiglio |first2=Bora Şekip |last2=Güray |first3=Ersin |last3=Merdan |publisher=Sabanci University Istanbul International Center for Energy and Climate (IICEC) |url=https://iicec.sabanciuniv.edu/teo |date=November 2020 |website=iicec.sabanciuniv.edu |isbn=978-605-70031-9-5}}
• {{cite report |last=Ersoy |first=Mücella |year=2019 |title=Turkish coal mining sector: Current State, Strategy for the Future |url=http://www.unece.org/fileadmin/DAM/energy/images/CMM/CMM_CE/Turkey_2019/3._2019-_CBM_Workshop-M_Ersoy-100619.pdf |publisher=Turkish Coal Operations Authority}}
• {{Cite report |last1=Taranto |first1=Yael |last2=Aydınalp Köksal |first2=Merih |last3=Dal |first3=Eda |date=December 2020 |title=The external cost of fossil fuel use in power generation, heating and road transport in Turkey |url=https://www.shura.org.tr/the-external-cost-of-fossil-fuel-use-in-power-generation-heating-and-road-transport-in-turkey/ |website=SHURA Energy Transition Center}}

{{commons category}}

• [https://wits.worldbank.org/CountryProfile/en/TUR Turkey Trade Statistics, World Bank]
• [https://www.greengrowthknowledge.org/country/turkey Green growth knowledge platform] − {{Webarchive|url=https://web.archive.org/web/20200629060631/https://www.greengrowthknowledge.org/country/turkey |date=29 June 2020 }}

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