Turkey's economy projected to exceed $1.4 trillion by the end of the year, according to the country's trade minister
Turkey's economy continues to show resilience and growth, with the nation's GDP projected to surpass $1.4 trillion by the end of 2025. This impressive figure represents a steady increase, growing at an average annual rate of about 5.3% over the past 22 years.
In 2024, the economy grew by 3.2%, with exports playing a significant role in this performance. The country's export values in key sectors for 2024-2025 were particularly strong. Automotive exports reached around $37.5 billion, textiles and clothing exports were about $32 billion, chemicals and energy exports approximated $35 billion, and agricultural products exports stood near $32.5 billion.
In the first seven months of 2025, Turkey’s exports totaled $156.4 billion, showing a 5.2% increase year-on-year. This addition of $7.6 billion in export value to the economy is a testament to the country's robust performance. Turkey’s share of global exports also rose to around 1.07–1.1% during this period.
Despite some challenges such as global trade tensions and tariff increases, Turkey's economy continues to demonstrate resilience with industrial, agricultural, and services sectors advancing in quality and competitiveness.
The growth of the Turkish economy has been evident since the ruling Justice and Development Party (AKP) took office. In fact, the national income of Turkey increased from $238 billion in 2002 to $1.32 trillion last year. The Turkish trade minister, Omer Bolat, expects the national income to exceed $1.4 trillion by the end of this year.
This optimistic outlook was echoed at an event in Istanbul, where Omer Bolat stated that the Turkish economy has grown at an average annual rate of 5.3% over the past 22 years. He also mentioned that Turkey's merchandise exports continued to grow in the first seven months of this year, closing at $156.4 billion with a 5.2% increase.
As of July, Turkey's goods exports over the past 12 months reached a record high of $269.4 billion in the history of the republic. This milestone was achieved when Turkey surpassed the $2 billion per day mark for export figures in an unspecified month, and when Turkey's merchandise exports reached the highest level in the history of the republic in an unspecified month, totaling $25 billion.
These achievements underscore Turkey's commitment to economic growth and its potential to continue its upward trajectory in the global economy.
In the context of Turkey's economic growth, the business sector significantly contributed to the country's success, as exports from key sectors like automotive, textiles and clothing, chemicals and energy, and agricultural products saw substantial increases from 2024 to 2025. Moving forward, the finance sector is expected to play a crucial role in sustaining this growth, as the Turkish economy aims to surpass $1.4 trillion by the end of 2025.
