May 9, 2022
When we look at Turkey’s macroecenomic developments, we can see that GDP per capita increased from 3,608 USD in 2002 to 8,597 USD in 2020.
In Purchasing Power Parity (PPP) terms (temporary data), GDP per capita exceeded 28,435 USD in 2020.
In 2020, according to Purchasing Power Parity GDP figures, Turkey ranks as the 11th largest economy in the World and 4 th in Europe.
Turkish economy expanded by 11.0% in 2021.
Real GDP growth rate of the fourth quarter of 2021 is 9,1%. Therefore, In 2021, Turkish economy grew by 11.0%
During 2003-2021 period, average annual growth rate in Turkey realized as 5.5%.
Capacity utilization rate in March 2022 increased by 2.6 percentage points compared to the same month of the previous year and realized as 77.3.
In January 2022, seasonally adjusted industrial production decreased by 2.4% compared to previous month and calendar adjusted industrial production index increased by 7.6% compared to same month of the previous year.
In March 2022, the PMI realized as 49.4
In March 2022, New Export Orders Index realized as 50.4.
CPI inflation rates realized as 61.14 and PPI inflation rates realized as 114.97 % in March 2022.
In February 2022, central government budget revenues was TL 200,8 billion.
Central government budget expenditures was TL 270,6 billion, and the central government budget surplus was TL 69,7 billion.
Central Government budget deficit/GDP ratio in Turkey was 3.5% in 2020 and 2.7% in 2021.
General Government Debt Stock/GDP ratio of Turkey, defined by European Union Standards, was 35.9% in 2020, and it was below the Maastricht Criterion (60%). General Government Debt Stock/GDP ratio of Turkey was %38.1 in 2021.
In January 2022, the current account deficit increased by 300.5% compared to January of the previous year and was realized as 7,1 billion dollars.
Source: Republic of Turkey Ministry of Trade – ECONOMIC OUTLOOK March 2022
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