‘Türkiye expected to become world’s 16th largest economy in 2025’

ANKARA

Vice President Cevdet Yılmaz has said Türkiye is projected to rise one place in the global economic rankings in 2025, becoming the world’s 16th largest economy.

Speaking at the parliament’s Planning and Budget Committee during the presentation of the 2026 Central Government Budget Bill, Yılmaz noted that Türkiye’s economic size exceeded $1.3 trillion in 2024.

“According to current forecasts, the country is expected to rank as the 16th largest economy next year. In terms of GDP based on purchasing power parity, Türkiye is projected to be the world’s 11th largest and Europe’s fourth largest economy,” he added.

Yılmaz said the contribution of the agricultural sector to growth is expected to remain limited due to harsh weather conditions such as frost and drought.

In line with the medium-term program (OVP), overall growth in 2025 is forecast at 3.3 percent, extending Türkiye’s uninterrupted growth streak to its 16th year, he added.

Yılmaz underlined that while the global economy grew cumulatively by 15.1 percent between 2020 and 2024, Türkiye’s economy expanded by 30.3 percent in the same period.

“On an annual average basis, global growth stood at 2.9 percent, while Türkiye’s growth performance reached 5.4 percent. This clearly demonstrates our strong development capacity and sustainable growth vision,” he said.

Yılmaz also stated that per capita income, which reached $15,325 in 2024, is expected to rise to $17,748 in 2025 and $18,621 in 2026.