In 2007, GDP was $ 658,756 million, which suggests that the Turkish economy became the sixteenth biggest economy among 30 OECD countries. GDP per capita in 2007 was $ 9,333.

The Turkish Statistical Institute (TurkStat) announced the new series of GDP on 8 March 2008. The old accounts, based on the 1968 UN system of accounts, did not adequately attempt to assess the sizeable informal sector. The new system is in line with European System of Accounts (ESA-95) methods and includes more comprehensive coverage of the housing and manufacturing sectors.

New Gross Domestic Product series with 1998 base year by production approach has increased by 31.6% in current prices compared to Gross Domestic Product series with 1987 base year for the year 2006.

For futher information on revised GDP estimates covering 1998-2007 click here

Real economic growth rates (based on GDP- production approach) in Q1, Q2, Q3 and Q4 in 2007 were 7.6%, 4.0%, 3.4%, and 3.4%, respectively. For the year 2007 as a whole GDP rose by 4.5% at constant prices.

As a result, the cumulative rate of real GDP growth reached 40% in the past six years, marking it as the longest stretch of uninterrupted growth episode in Turkey's history.

Main economic indicators

National accounts