Türkiye's economy saw 3.7% annual growth in Q3, ranking 4th among OECD countries: President
'Our economy has continued its growth trend, which it has maintained for 21 quarters, in the third quarter of 2025,' Recep Tayyip Erdogan says
ISTANBUL
Turkish President Recep Tayyip Erdogan said Wednesday that the country's economy grew 3.7% on an annual basis in the third quarter, maintaining its upward trend, and also ranking fourth among the Organization for Economic Cooperation and Development (OECD) countries.
"Our economy has continued its growth trend, which it has maintained for 21 quarters, in the third quarter of 2025," Erdogan said in the parliament in Ankara.
Erdogan also touched on the rising tourism in Türkiye, saying the number of visitors in the first nine months of 2025 increased by 1.6% compared to the same period last year.
"We achieved $50 billion in tourism revenue in the first three quarters, thus breaking an all-time three-quarter record," Erdogan said.
He highlighted the decline in Türkiye's risk premium, emphasizing that the country's credit risk premium (CDS) fell to 233 basis points, the lowest level in seven years.
Erdogan said the November inflation figures released on Wednesday raised their hopes. "Accordingly, our November inflation rate came in at 0.87%. Core goods inflation fell to around 18%. Meanwhile, the decline in services inflation continues."
On relations with Africa, Erdogan emphasized that trade with the African continent has increased from $5 billion to $37 billion in 20 years, with a target of $50 billion.
He said direct investments have reached $10 billion, and Turkish companies have undertaken more than 2,000 projects worth $97 billion.
Erdogan said Turkish Airlines has one of the most extensive flight networks on the African continent, reaching 64 destinations in 41 countries.
He emphasized that 2026 will be a "year of international summits" for Türkiye, announcing that the country will host COP31, the NATO summit, and the 13th summit of the Organization of Turkic States.
Erdogan also recalled the Nov. 29 test of Türkiye's KIZIELMA, saying it became the first unmanned combat aircraft capable of striking a target beyond visual range from air to air.
"Türkiye gained strategic advantage in air defense," he added.
