- Türkiye becomes 2nd fastest-growing economy among OECD countries during 2000-2024 period, while nation's economy expands fivefold to $1.36T
ISTANBUL
Türkiye's total goods and services exports saw an all-time high of $390 billion as of October 29, 2025, rising from $50 million in 1923, as the nation is celebrating the 102nd anniversary of the Turkish Republic.
"This success is the result of the determination of our producers, the diligence of our exporters, the courage of our entrepreneurs, and the unity of our nation. It represents the quality, competitiveness, and taste of Turkish goods and services," Türkiye's Trade Ministry said in a statement Tuesday, celebrating the Republic Day.
The Turkish economy, which had an export structure predominantly consisting of agricultural products in 1923, has today reached a wide range of value-added exports, from automotive to white goods, according to the statement.
The goods exports reached a record high of $270 billion as of Oct. 2025, exceeding the target set by the ministry at the beginning of the year.
Türkiye's share in the total exports globally reached an all-time high of 1.07% in 2024, rising from 0.55% in 2002 and an average of 0.38% in the 1980-2000 period.
"As of 2024, exports exceeded $1 billion to 53 countries, reaching the highest export figures in the history of the Republic in 60 countries. Also, that year, annual exports in 31 of our provinces exceeded $1 billion, and the number of exporting companies rose to 180,396. Furthermore, the number of exports exceeding $1 billion reached 53, marking a new milestone," it said.
Exports to EU soar to record high
Turkish exports to the EU also climbed, reaching a record high of $115.1 billion in 2024, from $11.3 billion in 1996, driven by the momentum gained by the Customs Union.
Türkiye's share in the total imports also hit a record high of 4% in 2024, up from 2.2% in 2002, according to the statement.
Industry, high-tech shares in exports rise
Industrial product exports accounted for 94.2% of total exports in 2024, up from 21.2% in 1969. Similarly, machinery and vehicles contributed to 30.1% of total exports last year, up from 0.2% in 1969.
The shares of medium-high- and high-technology products in total manufacturing industry exports increased to 41% in 2024, up from 30.4% in 2002 and 42.6% in the first nine months of 2025.
Turkish economy 2nd fastest-growing among OECD
Türkiye's economy grew by an average of 5.4% annually between 2000 and 2024, making it the second-fastest-growing economy among the Organization for Economic Co-operation and Development (OECD) countries.
While the global economy grew by 3.1% between 1980 and 2002, the Turkish economy grew by 3.9%, a 0.8 percentage point increase. In the 2003-2024 period, the global economy grew by 3.6%, 1.5 percentage points faster than the 1980-2002 period and 1.9 percentage points faster than the global average.
Türkiye's GDP soared fivefold to $1.36 trillion in 2024, ranking 17th globally, from $238.7 billion in 2002, which placed 21st worldwide. The GDP per capita also rose to $15,325 in 2024, from $3,616 in 2002.
"While GDP per capita in Türkiye was only 35% of the OECD average in 2002, based on purchasing power parity, this rate increased to over 70% by 2024," it added.