Source: world bank Nominal/PPP
Summary:
Turkiye GDP Per Capita expanded from 1960 to 2024, increasing from $267.09 to $15,892.72 .The compound annual growth rate (CAGR) averaged 6.59% over the period. The economy recorded its peak level in 2024 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 39.95%, indicating the largest cyclical decline from peak levels. The country experienced 9 recession episode(s) during the observed period.
Turkiye Economic Phases (1960 - 2024)
From 1960 to 2024, Turkiye economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1962–1964) indicating robust economic expansion
- High Growth (1966–1969) indicating robust economic expansion
- Crisis (1970–1971) indicating severe economic downturn
- High Growth (1972–1979) indicating robust economic expansion
- Contraction (1983–1984) indicating temporary slowdown
- High Growth (1985–1987) indicating robust economic expansion
- High Growth (1989–1990) indicating robust economic expansion
- High Growth (1995–1996) indicating robust economic expansion
- Expansion (1997–1998) indicating steady moderate growth
- High Growth (2002–2008) indicating robust economic expansion
- High Growth (2010–2011) indicating robust economic expansion
- Contraction (2014–2020) indicating temporary slowdown
- High Growth (2021–2024) indicating robust economic expansion
The most remarkable growth occurred in 1995 with an increase of 76.723%, while the largest decline was in 1994 at -28.832%.