Turkey is the world’s 16th and Europe’s 6th largest economy. According to HSBC’s “The World in 2050” report, Turkey will be the world’s 12th and Europe’s 5th biggest Economy by 2050. In September 2010, the FTSE Group promoted Turkey from ‘secondary emerging’ status to ‘advanced emerging’ status.
Turkey is currently the fastest emerging market of Europe and OECD. Turkish GDP grew by 8.8% in 2011, 2.2% in 2012 and 4% in 2013. The average growth rate in the last decade was 5%, the fastest among the OECD countries, which grew at an average of 1.7%. OECD estimates that Turkey will be the third highest growing country after China and India by 2017 and will surpass India after 2017 to become number two.
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