Turkey Real GDP Growth
1999 - 2020 | Quarterly | % | CEIC Data
The Gross Domestic Product (GDP) in Turkey expanded 5.9 % YoY in Dec 2020, following a growth of 6.3 % in the previous quarter. Real GDP Growth YoY data in Turkey is updated quarterly, available from Mar 1999 to Dec 2020, with an average rate of 5.9 %. The data reached an all-time high of 11.8 % in Mar 2011 and a record low of -14.5 % in Mar 2009. CEIC calculates Real GDP Growth from quarterly Real GDP Index. Turkish Statistical Institute provides Real GDP Index with base 2009=100.
In the latest reports, Nominal GDP of Turkey reached 193.7 USD bn in Dec 2020. Its GDP deflator (implicit price deflator) increased 19.2 % in Dec 2020. GDP Per Capita in Turkey reached 8,599.3 USD in Dec 2020. Its Gross Savings Rate was measured at 28.9 % in Dec 2020. For Nominal GDP contributions, Investment accounted for 31.5 % in Dec 2020. Public Consumption accounted for 15.6 % in Dec 2020. Private Consumption accounted for 55.4 % in Dec 2020.
View Turkey's Real GDP Growth from Mar 1999 to Dec 2020 in the chart:
What was Turkey's Real GDP Growth in Dec 2020?
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 5.9 Dec 2020 | 6.3 Sep 2020 | -14.5 Mar 2009 | 11.8 Mar 2011 | % | quarterly | Mar 1999 - Dec 2020 |
Real GDP Growth by Country Comparison
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| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | 3.0 Dec 2020 | quarterly | Mar 2010 - Dec 2020 |
| Algeria (%) | -3.9 Mar 2020 | quarterly | Mar 2012 - Mar 2020 |
| Argentina (%) | -4.7 Dec 2020 | quarterly | Mar 2005 - Dec 2020 |
| Armenia (%) | -8.8 Dec 2020 | quarterly | Mar 2001 - Dec 2020 |
| Australia (%) | -1.1 Dec 2020 | quarterly | Sep 1960 - Dec 2020 |
| Austria (%) | -5.9 Dec 2020 | quarterly | Mar 1989 - Dec 2020 |
| Azerbaijan (%) | -6.1 Dec 2020 | quarterly | Mar 2001 - Dec 2020 |
| Bahrain (%) | -2.1 Mar 2021 | quarterly | Mar 2009 - Mar 2021 |
| Bangladesh (%) | 5.2 2020 | yearly | 2007 - 2020 |
| Belarus (%) | -0.2 Dec 2020 | quarterly | Mar 2006 - Dec 2020 |
| Belgium (%) | -0.5 Mar 2021 | quarterly | Mar 1996 - Mar 2021 |
| Bolivia (%) | -21.7 Jun 2020 | quarterly | Mar 1991 - Jun 2020 |
| Bosnia and Herzegovina (%) | -3.8 Dec 2020 | quarterly | Mar 2009 - Dec 2020 |
| Botswana (%) | -4.0 Dec 2020 | quarterly | Mar 1995 - Dec 2020 |
| Brazil (%) | -1.2 Dec 2020 | quarterly | Mar 1997 - Dec 2020 |
| Brunei (%) | -1.4 Dec 2020 | quarterly | Mar 2005 - Dec 2020 |
| Bulgaria (%) | -3.8 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Cambodia (%) | 7.1 2019 | yearly | 1994 - 2019 |
| Canada (%) | -3.2 Dec 2020 | quarterly | Mar 1962 - Dec 2020 |
| Chile (%) | -0.1 Dec 2020 | quarterly | Mar 1987 - Dec 2020 |
| China (%) | 18.3 Mar 2021 | quarterly | Mar 1992 - Mar 2021 |
| Colombia (%) | -3.5 Dec 2020 | quarterly | Mar 2001 - Dec 2020 |
| Croatia (%) | -7.0 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Cyprus (%) | -4.5 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Czech Republic (%) | -4.8 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Denmark (%) | -1.5 Dec 2020 | quarterly | Mar 1992 - Dec 2020 |
| Ecuador (%) | -7.2 Dec 2020 | quarterly | Mar 1994 - Dec 2020 |
| Egypt (%) | 2.0 Dec 2020 | quarterly | Sep 2002 - Dec 2020 |
| Estonia (%) | -1.9 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| European Union (%) | -1.7 Mar 2021 | quarterly | Mar 1996 - Mar 2021 |
| Finland (%) | -1.7 Dec 2020 | quarterly | Mar 1976 - Dec 2020 |
| France (%) | 1.5 Mar 2021 | quarterly | Mar 1950 - Mar 2021 |
| Georgia (%) | -6.8 Dec 2020 | quarterly | Mar 1998 - Dec 2020 |
| Germany (%) | -3.1 Mar 2021 | quarterly | Mar 1992 - Mar 2021 |
| Ghana (%) | 0.8 Dec 2020 | quarterly | Jun 2006 - Dec 2020 |
| Greece (%) | -7.9 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Hong Kong SAR, China (%) | -2.9 Dec 2020 | quarterly | Mar 1991 - Dec 2020 |
| Hungary (%) | -4.1 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Iceland (%) | -5.9 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| India (%) | 0.4 Dec 2020 | quarterly | Jun 2005 - Dec 2020 |
| Indonesia (%) | -0.7 Mar 2021 | quarterly | Mar 1994 - Mar 2021 |
| Iran (%) | 4.8 Sep 2020 | quarterly | Jun 1989 - Sep 2020 |
| Ireland (%) | -0.2 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Israel (%) | -0.7 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Italy (%) | -1.5 Mar 2021 | quarterly | Mar 1982 - Mar 2021 |
| Ivory Coast (%) | 7.4 2018 | yearly | 1966 - 2018 |
| Japan (%) | -1.3 Dec 2020 | quarterly | Mar 1956 - Dec 2020 |
| Jordan (%) | -1.6 Dec 2020 | quarterly | Mar 1993 - Dec 2020 |
| Kazakhstan (%) | -4.9 Sep 2020 | quarterly | Mar 2006 - Sep 2020 |
| Kenya (%) | -1.9 Sep 2020 | quarterly | Mar 2010 - Sep 2020 |
| South Korea (%) | 1.7 Mar 2021 | quarterly | Mar 1961 - Mar 2021 |
| Kosovo (%) | 5.6 Mar 2021 | quarterly | Mar 2011 - Mar 2021 |
| Kuwait (%) | 1.2 Sep 2020 | quarterly | Jun 2010 - Sep 2020 |
| Kyrgyzstan (%) | -8.6 Dec 2020 | quarterly | Mar 2007 - Dec 2020 |
| Laos (%) | 5.5 2019 | yearly | 2003 - 2019 |
| Latvia (%) | -2.1 Mar 2021 | quarterly | Mar 1996 - Mar 2021 |
| Lebanon (%) | -1.9 2018 | yearly | 2005 - 2018 |
| Lithuania (%) | -1.1 Dec 2020 | quarterly | Jun 1995 - Dec 2020 |
| Luxembourg (%) | 1.4 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Macau SAR, China (%) | -45.9 Dec 2020 | quarterly | Mar 2002 - Dec 2020 |
| North Macedonia (%) | -0.7 Dec 2020 | quarterly | Mar 2001 - Dec 2020 |
| Malawi (%) | 4.0 2018 | yearly | 2003 - 2018 |
| Malaysia (%) | -3.4 Dec 2020 | quarterly | Mar 2001 - Dec 2020 |
| Malta (%) | -6.2 Dec 2020 | quarterly | Mar 2001 - Dec 2020 |
| Mauritius (%) | -12.2 Sep 2020 | quarterly | Mar 2001 - Sep 2020 |
| Mexico (%) | -2.9 Mar 2021 | quarterly | Mar 1981 - Mar 2021 |
| Moldova (%) | 1.0 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Mongolia (%) | -0.3 Dec 2020 | quarterly | Mar 2011 - Dec 2020 |
| Montenegro (%) | -7.5 Dec 2020 | quarterly | Mar 2011 - Dec 2020 |
| Morocco (%) | -6.0 Dec 2020 | quarterly | Mar 2008 - Dec 2020 |
| Mozambique (%) | 2.0 Dec 2018 | quarterly | Jun 2007 - Dec 2018 |
| Myanmar (%) | 6.8 2019 | yearly | 2011 - 2019 |
| Nepal (%) | -2.7 Mar 2020 | quarterly | Dec 2004 - Mar 2020 |
| Netherlands (%) | -3.0 Dec 2020 | quarterly | Mar 1997 - Dec 2020 |
| New Zealand (%) | 1.2 Dec 2020 | quarterly | Jun 1983 - Dec 2020 |
| Nigeria (%) | 0.1 Dec 2020 | quarterly | Mar 2011 - Dec 2020 |
| Norway (%) | -1.1 Dec 2020 | quarterly | Mar 1979 - Dec 2020 |
| Oman (%) | -0.8 2019 | yearly | 1999 - 2019 |
| Pakistan (%) | 0.5 2020 | yearly | 2001 - 2020 |
| Palestinian Territory (%) | 11.8 Sep 2020 | quarterly | Jun 2011 - Sep 2020 |
| Panama (%) | -10.9 Dec 2020 | quarterly | Mar 2008 - Dec 2020 |
| Paraguay (%) | 1.0 Dec 2020 | quarterly | Mar 1995 - Dec 2020 |
| Peru (%) | -1.7 Dec 2020 | quarterly | Mar 1981 - Dec 2020 |
| Philippines (%) | -8.4 Dec 2020 | quarterly | Mar 1999 - Dec 2020 |
| Poland (%) | -2.7 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Portugal (%) | 1.8 Jun 2019 | quarterly | Mar 1996 - Jun 2019 |
| Qatar (%) | -3.9 Dec 2020 | quarterly | Mar 2012 - Dec 2020 |
| Romania (%) | -1.8 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Russia (%) | -2.8 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| Saudi Arabia (%) | -3.9 Dec 2020 | quarterly | Mar 2011 - Dec 2020 |
| Serbia (%) | 4.5 Sep 2019 | quarterly | Mar 1997 - Sep 2019 |
| Singapore (%) | 0.2 Mar 2021 | quarterly | Mar 1976 - Mar 2021 |
| Slovakia (%) | -2.1 Dec 2020 | quarterly | Mar 1994 - Dec 2020 |
| Slovenia (%) | -5.0 Dec 2020 | quarterly | Mar 1996 - Dec 2020 |
| South Africa (%) | -4.2 Dec 2020 | quarterly | Mar 1961 - Dec 2020 |
| Spain (%) | -4.3 Mar 2021 | quarterly | Mar 1996 - Mar 2021 |
| Sri Lanka (%) | 1.3 Dec 2020 | quarterly | Mar 2011 - Dec 2020 |
| Sudan (%) | -1.3 2019 | yearly | 1983 - 2019 |
| Sweden (%) | -2.1 Dec 2020 | quarterly | Mar 1982 - Dec 2020 |
| Switzerland (%) | -1.7 Dec 2020 | quarterly | Mar 1966 - Dec 2020 |
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| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -3.5 Dec 2020 | quarterly | Dec 2006 - Dec 2020 |
| Consolidated Fiscal Balance (USD mn) | 2,982.502 Mar 2021 | monthly | Jan 2006 - Mar 2021 |
| Tax Revenue (USD mn) | 8,511.665 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| Tax Revenue: % of GDP (%) | 18.4 Mar 2021 | quarterly | Mar 2006 - Mar 2021 |
| National Government Debt (USD mn) | 271,456.7 2020 | yearly | 2001 - 2020 |
| Government Debt: % of GDP (%) | 39.5 Dec 2020 | quarterly | Dec 2001 - Dec 2020 |
| Forecast: Government Expenditure (TRY bn) | 4,106.510 2026 | yearly | 2000 - 2026 |
| Forecast: Government Net Debt (TRY bn) | 5,150.900 2026 | yearly | 2000 - 2026 |
| Forecast: Government Revenue (TRY bn) | 3,386.900 2026 | yearly | 2000 - 2026 |
| General Budget: Revenue (TRY mn) | 111,320.218 Jun 2021 | monthly | Jan 2005 - Jun 2021 |
| General Budget: Cash Balance (TRY mn) | -7,220.836 Jun 2021 | monthly | Jan 2005 - Jun 2021 |
| General Budget: Expenditure (TRY mn) | 119,741.054 Jun 2021 | monthly | Jan 2005 - Jun 2021 |
| General Budget: ytd: EX: Primary: Current Transfers (CT) (TRY th) | 296,898,449.000 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| General Budget: ytd: Expenditure (EX) (TRY th) | 647,409,970.000 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| General Budget: ytd: Revenue: Tax: Direct (TRY th) | 174,105,324.000 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| General Budget: ytd: Revenue: Tax (TRY th) | 496,940,140.000 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| General Budget: ytd: EX: Primary: Capital Expenditure (TRY th) | 16,132,204.000 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| General Budget: ytd: Revenue (TRY th) | 616,830,061.000 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| General Budget: ytd: Balance (TRY th) | -30,579,909.000 Jun 2021 | monthly | Jan 2006 - Jun 2021 |
| Central Government Debt: External (TRY mn) | 538,505.357 Mar 2019 | monthly | Jan 2002 - Mar 2019 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | 7.000 2026 | yearly | 1980 - 2026 |
| Trade Balance (USD mn) | -4,194.3 Mar 2021 | monthly | Jan 2013 - Mar 2021 |
| Total Exports (USD mn) | 14,265.9 Dec 2019 | monthly | Jan 1997 - Dec 2019 |
| Total Exports Growth (%) | 40.3 Mar 2021 | monthly | Jan 2014 - Mar 2021 |
| Aluminum: Exports (USD th) | 1,720,685.930 2020 | yearly | 1995 - 2020 |
| Exports: Medicament (USD th) | 758,266.824 2020 | yearly | 1995 - 2020 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 566,555.239 2020 | yearly | 1995 - 2020 |
| Total Imports (USD mn) | 17,684.5 Dec 2019 | monthly | Jan 1997 - Dec 2019 |
| Total Imports Growth (%) | 21.8 Mar 2021 | monthly | Jan 2014 - Mar 2021 |
| Imports: Medicament (USD th) | 3,005,491.176 2020 | yearly | 1995 - 2020 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 2,530,516.039 2020 | yearly | 1995 - 2020 |
| Total Exports to USA (USD mn) | 1,007.089 Dec 2020 | monthly | Apr 1964 - Dec 2020 |
| Total Imports from USA (USD mn) | 988.307 Mar 2021 | monthly | Apr 1964 - Mar 2021 |
| Total Exports to China (USD mn) | 323.861 Apr 2021 | monthly | Oct 1984 - Apr 2021 |
| Total Imports from China (USD mn) | 2,312.315 Apr 2021 | monthly | Sep 1992 - Apr 2021 |
| Trade Balance: USD (USD mn) | -2,136.727 Mar 2019 | monthly | Jan 1969 - Mar 2019 |
| Exports: BEC: IG: Materials Incidental to Industry: Unprocessed (USD mn) | 530.243 May 2021 | monthly | Jan 1969 - May 2021 |
| Exports: BEC: IG: Materials Incidental to Industry: Processed (USD mn) | 5,979.992 May 2021 | monthly | Jan 1969 - May 2021 |
| Exports: BEC: IG: Unprocessed Fuels & Oils (USD mn) | 11.032 May 2021 | monthly | Mar 1969 - May 2021 |
| Exports: BEC: Capital Goods: Except Transportations Vehicles (USD mn) | 1,031.523 May 2021 | monthly | Jan 1969 - May 2021 |
| Exports: BEC: IG: Investment Goods Parts (USD mn) | 560.708 May 2021 | monthly | Jan 1969 - May 2021 |
| Imports: BEC: IG:Incidental to Industry: Processed Materials (USD mn) | 7,430.502 May 2021 | monthly | Jan 1969 - May 2021 |
| Imports: BEC: IG:Incidental to Industry: Unprocessed Materials (USD mn) | 1,697.001 May 2021 | monthly | Jan 1969 - May 2021 |
| Imports: BEC: IG: Investment Goods Parts (USD mn) | 1,112.819 May 2021 | monthly | Jan 1969 - May 2021 |
| Imports: BEC: Capital Goods: Except Transportations Vehicles (USD mn) | 2,314.554 May 2021 | monthly | Jan 1969 - May 2021 |
| Imports: BEC: IG: Unprocessed Fuels & Oils (USD mn) | 195.417 May 2021 | monthly | Jan 1969 - May 2021 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 3.7 May 2021 | monthly | Jan 2003 - May 2021 |
| Household Debt: % of GDP (%) | 17.9 Dec 2020 | quarterly | Dec 2014 - Dec 2020 |
| Non-Performing Loans (USD mn) | 17,346.864 May 2021 | monthly | Dec 2002 - May 2021 |
| Money Supply M1 (USD mn) | 156,015.970 Apr 2021 | monthly | Dec 1963 - Apr 2021 |
| Money Supply M2 (USD mn) | 436,883.356 Apr 2021 | monthly | Dec 1976 - Apr 2021 |
| M2 Growth (%) | 22.8 Apr 2021 | monthly | Dec 1977 - Apr 2021 |
| Reserve Requirement Ratio (%) | 8.0 May 2021 | monthly | Jan 2011 - May 2021 |
| Foreign Exchange Reserves (USD mn) | 46,196.0 Mar 2021 | monthly | Apr 2000 - Mar 2021 |
| Foreign Exchange Reserves: % of GDP (%) | 6.340 Mar 2021 | quarterly | Jun 2000 - Mar 2021 |
| Foreign Exchange Reserves: Months of Import (NA) | 2.2 Apr 2021 | monthly | Apr 2000 - Apr 2021 |
| Gold Reserves (USD mn) | 43,945.000 May 2021 | monthly | Dec 1956 - May 2021 |
| Total Deposits (USD mn) | 444,558.418 May 2021 | monthly | Dec 2002 - May 2021 |
| Total Deposits Growth (%) | 30.3 Mar 2021 | monthly | Dec 2003 - Mar 2021 |
| Domestic Credit (USD mn) | 568,260.6 Apr 2021 | monthly | Jan 1986 - Apr 2021 |
| Domestic Credit Growth (%) | 24.9 Apr 2021 | monthly | Jan 1987 - Apr 2021 |
| Debt Service Ratio: Private Non-Financial Sector (%) | 14.600 Sep 2020 | quarterly | Mar 2002 - Sep 2020 |
| Credit to Households (USD bn) | 118.232 Dec 2020 | quarterly | Mar 1986 - Dec 2020 |
| Credit to Private Non-Financial Sector (USD bn) | 605.309 Dec 2020 | quarterly | Mar 1986 - Dec 2020 |
| Household Debt (USD mn) | 94,895.9 May 2021 | monthly | Jan 1986 - May 2021 |
| Total Loans (USD mn) | 372,105.044 Mar 2021 | monthly | Jan 1986 - Mar 2021 |
| Total Loans Growth (%) | 21.78 Apr 2021 | monthly | Jan 1987 - Apr 2021 |
| Private Debt: % of Nominal GDP (%) | 55.69 Dec 2020 | quarterly | Dec 1998 - Dec 2020 |
| Money Supply: M3 (TRY th) | 3,782,523,533.680 May 2021 | monthly | Dec 2005 - May 2021 |
| Asset Quality: Banking Sector: NPL to Total Loan (%) | 3.693 May 2021 | monthly | Jan 2003 - May 2021 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | 12.7 Jul 2021 | monthly | Jan 2008 - Jul 2021 |
| Composite Leading Indicator Index: Trend Restored (NA) | 239.070 May 2021 | monthly | Dec 1987 - May 2021 |
| Real Sector Confidence Index: CANE 2: Seasonally Adjusted (sa) (Point) | 112.100 Jul 2021 | monthly | Jan 2007 - Jul 2021 |
| Construction Confidence Index (CCI): Seasonally Adjusted (sa) (Point) | 86.314 Jul 2021 | monthly | Jan 2011 - Jul 2021 |
| Services Sector Confidence Index (SCI): Seasonally Adjusted (sa) (Point) | 114.769 Jul 2021 | monthly | Jan 2011 - Jul 2021 |
| Retail Trade Confidence Index (RCI): Seasonally Adjusted (sa) (Point) | 109.640 Jul 2021 | monthly | Jan 2011 - Jul 2021 |
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