Turkey becomes the 13th largest economy in the world

Turkey becomes the 13th largest economy in the world
Posted on: 31 Aug 2017

According to the IMF's Purchasing Power Parity (SPP) report, Turkey’s “national income per capita” went above $ 25,000 thus making Turkey the 13th largest economy in the world.  Referring to the report, AK Party Deputy Chief Economist CEVDET YILMAZ shared an important message on his official twitter account. He said: "In the period 2002-2016 our per capita income approached US$ 11 thousand (from US$ 3.5 thousand).

YILMAZ went on to say: “Our national income, in spite of internal and external threats, reached US$ 860 billion in 2016 (from US$ 230 billion in 2002). Based on the IMF purchasing power parity, we are now the 13th largest economy in the world in national income, increasing our per capita income to US$ 25 thousand. Our economy, which enjoyed an average growth of 5.7 per year in the period of 2002-2016, will continue to move forward in confidence and stability on the way to our 2023 targets. "

On the other hand, Prime Minister Mehmet SIMSEK also shared a similar message last week pointing out that the Turkish economy had become the 13th largest economy in the world. In IMF's report on the purchasing power parity, per capita national income of Turkey was announced at US$ 25,780 in 2017. This figure, which was $ 16,900 in 2010, corresponds to an increase of $ 8,800 in 2017.

Experts comment that Turkish economy has achieved a faster growth compared to its competitors like Brazil. Brazil's figure which was at the level of US$ 14,340 in 2010, was calculated at US$ 15,490 in 2017 corresponding to an increase of US$ 1,150.

Minister Yılmaz drew attention to this point in his social media account, saying: "As a country that has secured institutional guarantees for political stability after April 16th, we will confidently proceed to our 2023 targets. The success achieved by the AK Party governments in the economy, which is approaching 15 years, can be summed up with the words of confidence and stability ".