OECD Economic Surveys: Turkey 2021

Abstract

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Turkey were reviewed by the Committee on 12 November 2020. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 22 December 2020. The Secretariat’s draft report was prepared for the Committee by Rauf Gönenç, Dennis Dlugosch, Selçuk Gül and Cem Çebi under the supervision of Sebastian Barnes. Hüzeyfe Torun and Yusuf Kenan Bağır from the Structural Economic Research Department of the Central Bank of the Republic of Turkey contributed firm-level analyses for the Thematic Chapter.

Statistical research assistance was provided by Eun Jung Kim and editorial assistance by Michelle Ortiz and Héloïse WICKRAMANAYAKE.

The previous Survey of Turkey was issued in July 2018.

Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at www.oecd.org/eco/surveys

Basic statistics of Turkey, 2019

(Numbers in parentheses refer to the OECD average)

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million)	83.4		Population density per km² (2018)	107.0	(38.0)
Under 15 (%)	24.3	(17.9)	Life expectancy at birth (years, 2018)	77.4	(80.1)
Over 65 (%)	8.7	(17.1)	Men (2018)	74.4	(77.5)
International migrant stock (% of population)	7.0	(13.3)	Women (2018)	80.3	(82.8)
Latest 5-year average growth (%)	1.6	(0.6)	Latest general election	June-2018
ECONOMY
Gross domestic product (GDP)			Value added shares (%)
In current prices (billion USD)	762.0		Agriculture, forestry and fishing	7.1	(2.6)
In current prices (billion TRY)	4 320.2		Industry including construction	30.8	(26.8)
Latest 5-year average real growth (%)	4.1	(2.2)	Services	62.1	(70.5)
Per capita (000 USD PPP)	28.1	(48.5)
GENERAL GOVERNMENT
Per cent of GDP
Expenditure (2018, OECD: 2019)	34.6	(41.6)	Gross financial debt (2016, OECD: 2018)	31.8	(95.8)
Revenue (2018, OECD: 2019)	31.5	(38.5)	Net financial debt (2016, OECD: 2017)	18.4	(68.7)
EXTERNAL ACCOUNTS
Exchange rate (TRY per USD)	5.67		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	1.84		Machinery and transport equipment	31.2
In per cent of GDP			Manufactured goods	24.8
Exports of goods and services	32.7	(54.2)	Miscellaneous manufactured articles	17.6
Imports of goods and services	29.9	(50.6)	Main imports (% of total merchandise imports)
Current account balance	1.2	(0.3)	Machinery and transport equipment	25.2
Net international investment position	-45.1		Commodities and transactions, n.e.s.	18.0
			Manufactured goods	16.1
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate (aged 15 and over, %)	45.7	(57.6)	Unemployment rate, Labour Force Survey (aged 15 and over, %)	13.7	(5.4)
Men	63.1	(65.6)	Youth (aged 15-24, %)	25.2	(11.7)
Women	28.7	(50.0)	Long-term unemployed (1 year and over, %)	3.2	(1.4)
Participation rate (aged 15 and over, %)	53.0	(61.1)	Tertiary educational attainment (aged 25-64, %)	22.0	(38.0)
Average hours worked per year	1,832	(1,659)	Gross domestic expenditure on R&D (% of GDP, 2017, OECD: 2018)	1.0	(2.6)
ENVIRONMENT
Total primary energy supply per capita (toe)	1.8	(3.9)	CO2 emissions from fuel combustion per capita (tonnes)	4.5	( 8.3)
Renewables (%)	15.9	(10.8)	Water abstractions per capita (1 000 m³, 2018)	0.7
			Municipal waste per capita (tonnes, 2018)	0.4	(0.5)
SOCIETY
Income inequality (Gini coefficient, 2015, OECD: 2016)	0.404	(0.310)	Education outcomes (PISA score, 2018)
Relative poverty rate (%, 2015, OECD: 2016)	17.2	(11.5)	Reading	466	(487)
Median disposable household income (000 USD PPP, 2015, OECD: 2016)	10.6	(24.4)	Mathematics	454	(489)
Public and private spending (% of GDP)			Science	468	(489)
Health care	4.4	(8.8)	Share of women in parliament (%)	17.4	(30.7)
Pensions (2017)	7.4	(8.6)	Net official development assistance (% of GNI, 2017)	1.0	(0.4)
Education (% of GNI, 2018)	3.8	(4.5)

1. The year is indicated in parenthesis if it deviates from the year in the main title of this table.

2. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 80% of member countries.

Source: Calculations based on data extracted from databases of the following organisations: OECD, International Energy Agency, International Labour Organisation, International Monetary Fund, United Nations, World Bank.