Turkish Economycurrent issues, food for thought, background informationRapid economic growth and the stagnancy of the US dollar against the value of the new Turkish lira boosted national income allowing Turkey to join among the World’s largest economies. In 2005, Turkey was rated 19th with a gross domestic product (GDP) of $362.5 billion, and rise to 17th place with a GDP of $414.1 billion expected in 2006. Turkey was 26th in 2002 with $183 billion GDP rising to 19th place in 2005, leaving behind Saudi Arabia, Poland, Norway, Indonesia, Austria, Sweden, and Taiwan. The IMF predicts that, compared to 2006, Turkey’s GDP will rise to $446.5 billion in 2007, a-$32.4-billion rise; however, this will not be sufficient to close the $210-billion gap between Turkey and Holland. So, Turkey’s ranking will not change in 2007. |
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