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Türkiye’s gross domestic product (GDP) is projected to rise to $1.4 trillion by the end of 2025, up from $1.32 trillion in 2024, Trade Minister Omer Bolat said Friday.
Speaking at an event in Istanbul hosted by the Foreign Economic Relations Board of Türkiye (DEIK), Bolat noted that the country’s economy has expanded at an average annual rate of 5.3% over the past 22 years under the Justice and Development Party (AK Party).
He added that Türkiye has ranked among the fastest-growing economies globally over the past decade.
Turkish economy expanded by 3.2% in 2024 compared to the previous year.
In the first half of 2025, the economy grew by 2% compared with the same period last year, slowing from the 3% pace recorded in the previous quarter.
While the government’s Medium-Term Program set a 4% annual growth target for 2025, Finance Minister Mehmet Simsek recently indicated the goal would be “slightly” missed due to persistent global headwinds.
Bolat said merchandise exports reached $262 billion in 2024 and rose 5.2% year-over-year to $156.4 billion in the first seven months of 2025, representing an additional $7.6 billion in value for the economy over the period.
Türkiye’s share of global exports has climbed to 1.07%, driven by $37.5 billion in automotive shipments, $32 billion in textiles and clothing, $35 billion in chemicals and energy, and $32.5 billion in agricultural products.
“In July, we surpassed the $25 billion monthly export mark for the first time,” Bolat said, noting that on March 28, exports exceeded $2 billion in a single day. He added that goods exports over the past 12 months totaled $269.4 billion—the highest level in the republic’s history.
Bolat emphasized that the record export performance reflects advances in quality, competitiveness, and technology across Türkiye’s industry, agriculture, and services sectors.
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