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.

Click here for GNP per capita by years.

The Turkish Statistical Institute (TurkStat) announced the new series of GDP on 8 March 2007. 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.

It is generally accepted that without efficiency increases sustainable economic growth cannot be achieved.

In this regard productivity surge in Turkey has been one of the main drivers of significant output growth in 2002-2006.

Increases in output per worker in the first, second and last quarters of 2006 over the same quarters of 2005 were 4.7%, 9.7%, 5.8% and 4.7% respectively. Output per worker increased by 6.2% in 2006 over the year 2005.

Output per-hour worked figures also justify that the rate of productivity growth accelerated.

Output per-hour worked increased by 7.5% and 5.9% in the first and second halves of 2006 over the same periods of 2005. Labour productivity, measured by output per hour worked, increased by 5.3% year on year in the final quarter of 2006. As a result, the annual rate of increase in labour productivity accelerated to 6.7% from 6% in 2005.

Main economic indicators

National accounts