Türkiye Set to Become the World’s 16th Largest Economy by 2025

Vice President Cevdet Yılmaz has stated that Türkiye is expected to move up one position in the global economic rankings by 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, The Caspian Post reports citing Turkish media.

“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.