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B_A
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GDP still need 2 months ( I don't know why TÜİK always later than other countries)
Import and export I guess within this week.
B_A
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TÜİK Kurumsal
2023 gdp will released 29 Şubat
BalkanTurk90
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Tod
Today i seen new IMF source that is attached in Wikipedia turkish economy , i dont know how real is but its 1.34 Trillion GDPTÜİK Kurumsal
data.tuik.gov.tr
2023 gdp will released 29 Şubat
B_A
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That s normal and achievable if no more crisis or disaster again.Tod
Today i seen new IMF source that is attached in Wikipedia turkish economy , i dont know how real is but its 1.34 Trillion GDP
View attachment 64428
Bulgaria is 17000 USD per capita now.
We have to reach 20k USD asap.
Chinese economy is in deep crisis we would lap out them.
BalkanTurk90
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Yes very achievable and those numbers i think are for present not for end of 2024 .
If u look other economies that reached 1 trillion to 2 trillion:
USA 1 Trillion 1969 - 2 Trillion 1977
Japan 1 Trillion 1979 - 2 Trillion 1986
India 2007 - 2014
China 1998 - 2005
So i think Turkiye easy will reach 2 Trillion in 6-7 years like other countries if no major world war happens or another world exonimic crisis
(Turkiye 1 Trillion 2023 - 2 Trillion 2029
DBdev
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Türkiye is at the very bottom of
Meaning to buy the same $100 supermarket goods in OECD countries Turks have to pay the least amount $36!
Life is cheapest in Türkiye in a sense. Now that minimum wage is around $570 or so life is even more comfortable.
Minimum wage is in US according to a simple search is $1160 a month.
www.bing.com
Turkish minimum wage can buy $1583 worth groceries according to my calculation.
There are Americans that work 3-4 jobs a day to just get by.
www.cnbc.com
Most Americans in big cities will never own a house unlike their parents. They don't have free insurance. Paid insurance most of the time doesn't cover eye, dental etc etc. They have 2-3 weeks a year UNPAID vacation rights. Movies rarely show those people. Most of the movies are in Manhattan. Everyone is a billionaire. Even the family in home alone. Was estimated in 2022 that the house was worth about $2.4 million. The American dream is bullshit. Be grateful for our country. Grass is always greener on the other side until you go to the other side.
people.com
OECD comparative price levels list:
Purchasing power parity - Wikipedia
en.wikipedia.org
Meaning to buy the same $100 supermarket goods in OECD countries Turks have to pay the least amount $36!Purchasing power parity - Wikipedia
Life is cheapest in Türkiye in a sense. Now that minimum wage is around $570 or so life is even more comfortable.
Minimum wage is in US according to a simple search is $1160 a month.
"monthly minimum wage" in America - Bing
Met de intelligente zoekmachine van Bing kunt u gemakkelijker snel vinden waar u naar op zoek bent en wordt u beloond.
Turkish minimum wage can buy $1583 worth groceries according to my calculation.
There are Americans that work 3-4 jobs a day to just get by.
Nearly 70% of Americans are looking for extra work to combat inflation
Americans are taking extra hours or re-thinking their jobs entirely as daily costs surge.
Most Americans in big cities will never own a house unlike their parents. They don't have free insurance. Paid insurance most of the time doesn't cover eye, dental etc etc. They have 2-3 weeks a year UNPAID vacation rights. Movies rarely show those people. Most of the movies are in Manhattan. Everyone is a billionaire. Even the family in home alone. Was estimated in 2022 that the house was worth about $2.4 million. The American dream is bullshit. Be grateful for our country. Grass is always greener on the other side until you go to the other side.
How Rich Are the McCallisters in Home Alone? Report Says They're in the 1%
A new investigation by the 'New York Times' delves into the real cost of the famous 'Home Alone' house and the fictional family's finances
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BalkanTurk90
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When USA economy was 1 Trillion in 1969 , americans would buy a home for 22 000 $ , now in 2024 they can get one for 500 000 $ . So comparing Turkiye and USA in Dollar is not fair because of differential prices and other factories just like USA 1970 vs Usa 2024Türkiye is at the very bottom of
OECD comparative price levels list:
Meaning to buy the same $100 supermarket goods in OECD countries Turks have to pay the least amount $36!
Purchasing power parity - Wikipedia
Life is cheapest in Türkiye in a sense. Now that minimum wage is around $570 or so life is even more comfortable.
Minimum wage is in US according to a simple search is $1160 a month.
"monthly minimum wage" in America - Bing
Met de intelligente zoekmachine van Bing kunt u gemakkelijker snel vinden waar u naar op zoek bent en wordt u beloond.
Turkish minimum wage can buy $1583 worth groceries according to my calculation.
There are Americans that work 3-4 jobs a day to just get by. Most Americans in big cities will never own a house unlike their parents. They don't have free insurance. Paid insurance most of the time doesn't cover eye, dental etc etc. They have 2-3 weeks a year UNPAID vacation rights. Movies rarely show those people. Most of the movies are in Manhattan. Everyone is a billionaire. Even the family in home alone. Was estimated in 2022 that the house was worth about $2.4 million. The American dream is bullshit. Be grateful for our country. Grass is always greener on the other side until you go to the other side.
How Rich Are the McCallisters in Home Alone? Report Says They're in the 1%
A new investigation by the 'New York Times' delves into the real cost of the famous 'Home Alone' house and the fictional family's finances
Lets take averange job in USA in 1970 (teacher) Salary 8600 per year and will buy house in just 3 years
Teachers in 2023 with averange salary of 68 000 will need 8 years to reach 500k and buy a home from 3 to 8 , This example is aslo for other living foods etc etc . So americans have became poorer . They lucky that their grandmothers dont borth 6+ babies because they would became like india gheto homeless . They born 1 or 2 children and they can inherit home free and other kid can became good busnessman or doctor and buy home on its own.
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B_A
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Maybe Chinese government and country isn’t in crisis but Chinese people are.They are communist. Even North Korean isn’t in crisis
(Turkiye country gdp is growing we don’t have large debt ,we never in crisis these years but Turk and west media always say our country in deep crisis)
Hundred thousand of Chinese rush to America on foot.Millions of people lost their prepaid houses.
I don’t care the Chinese but at least our gdp per capita is higher than them again.
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B_A
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The people G7 countries paid far much taxes than 20 years earlier .When USA economy was 1 Trillion in 1969 , americans would buy a home for 22 000 $ , now in 2024 they can get one for 500 000 $ . So comparing Turkiye and USA in Dollar is not fair because of differential prices and other factories just like USA 1970 vs Usa 2024
Lets take averange job in USA in 1970 (teacher) Salary 8600 per year and will buy house in just 3 years
Teachers in 2023 with averange salary of 68 000 will need 8 years to reach 500k and buy a home from 3 to 8 , This example is aslo for other living foods etc etc . So americans have became poorer . They lucky that their grandmothers dont borth 6+ babies because they would became like india gheto homeless . They born 1 or 2 children and they can inherit home free and other kid can became good busnessman or doctor and buy home on its own.
A Japanese only had to paid 10% of this income for tax and medical in 1990 but 25%now.
And they taxed all the small businesses but not the big international companies.
B_A
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If no 2016 coup and Covid
I guess we have at least 20k+usd per capita now.
The weakness of ours compared to South Korea or Taiwan is that we don’t have a world brand company and the current account balance.Our strength is that we dont need export so much food.
B_A
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Türkiye’s exports reached a new all-time high in 2023 despite global challenges, the crises in its near geography, and devastating earthquakes that struck the southeastern region, the country's president announced on Tuesday.
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The outbound shipments of $255.8 billion (TL 7.6 trillion) mark the third straight annual peak and surpass the target set in the government's medium-term program (MTP), which was unveiled in early September.
The figure is up 0.6% from $254 billion in 2022. Sales totaled $225.4 billion in 2021 after they were hit by the coronavirus pandemic and dropped to as low as $169.5 billion in 2020.
The MTP export estimates were set at $255 billion for 2023 and $267 billion for 2024.
At $361.8 billion, imports in 2023 also came in below the program's estimate of $367 billion.
Sales in December alone rose 0.4% year-over-year to $23 billion, Erdoğan told an event in Ankara. Imports totaled $29.1 billion, the Turkish Exporters Assembly (TIM) data showed.
Exports are among the top priorities of the government it seeks to rely on to ensure sustainable economic growth
Türkiye has embraced more conventional policymaking after the May elections and delivered aggressive monetary tightening aimed at arresting soaring inflation, reducing trade deficits, rebuilding foreign exchange reserves and stabilizing the Turkish lira.
Since June, the central bank has lifted its one-week repo rate by 3,400 basis points to 42.5%. After its rate-setting meeting last month, it suggested it is closer to the finish line by saying it expects to "complete the tightening cycle as soon as possible."
The rate has led to much higher costs for mortgages, auto loans, business borrowing and many other forms of credit.
"Without compromising on production, employment, and economic growth, we aim to reduce inflation back to single digits," Erdoğan said.
Inflation rose to nearly 62% last month and is expected to peak at 70%-75% in May before dipping to about 36% by the end of 2024 as tightening cools prices.
"In case there are no new extraordinary events in the global economy, we will see the effects of our policies more clearly from the second half of the year," said Erdoğan.
Türkiye has also seen diminishing volatility in the lira exchange rate, which eased below the average volatility of developing countries.
The currency ended 2023 nearly 37% weaker against the U.S. dollar. It slid to a new record low beyond 29.7 against the greenback on Tuesday.
The policy pivot in the second half of the year seems to have been paying off, as Erdoğan touted the narrowing foreign trade and the current account deficits.
He recalled the surpluses in the current account balance in September and October, adding that the trend was expected to have continued in November and December as well.
"We have observed a persistent decrease in the trade deficit and current account deficit over the last five months. We believe that this improvement will continue in the upcoming period," the president noted.
The trade gap dropped to $106 billion, down 3.2% compared to $109.5 billion in 2022, according to the TIM data. The MTP estimated a shortfall of $112 billion.
The deficit fell about 37% in December to $6.1 billion.
The current account gap stood at $40.7 billion in the January-October period. On a 12-month basis, it reached $50.7 billion in October.
Trade Minister Ömer Bolat has cited the challenging global trade landscape throughout 2022, citing sluggish global production, particularly in the European Union, Türkiye's main trade partner, and a decline in global demand.
The country also suffered more than $6.5 billion in losses due to the devastating earthquakes in early February, which ripped through southeastern Türkiye, killing over 50,000 people, leveling hundreds of thousands of buildings, and severely damaging the infrastructure. The overall cost is estimated at about $104 billion, according to Erdoğan.
Erdoğan emphasized the ground Türkiye has covered over the last two decades, stressing that average monthly exports have reached $21.3 billion, compared to just $3 billion back in 2002.
"Our goal is not to leave any country where Turkish products are unrecognized and our exporters have not set foot," he noted.
Erdoğan hailed Türkiye's resilience despite multiple global challenges over the last few years, including the pandemic, global supply chain disruptions, the Russia-Ukraine war, and the raw material and energy crisis.
The economy expanded by a more-than-expected 5.9% year-over-year in the third quarter, accelerating from an upwardly revised 3.9% growth in the second quarter and 4% in the first. It achieved a 4.7% average growth in the first nine months of the year.
The economy is expected to end 2023 with a gross domestic product (GDP) growth of over 4% as activity begins to slow after aggressive monetary tightening meant to cool domestic demand and high inflation.
Erdoğan said Türkiye's share in global exports, which topped 1% for the first time in 2021, increased to 1.02% in 2022.
"This ratio rose to 1.03% in the first two quarters of last year. Alongside strong growth performance, our growth composition also developed positively," he said.
Last Update: Jan 02, 2024 4:43 pm
www.dailysabah.com
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The outbound shipments of $255.8 billion (TL 7.6 trillion) mark the third straight annual peak and surpass the target set in the government's medium-term program (MTP), which was unveiled in early September.
The figure is up 0.6% from $254 billion in 2022. Sales totaled $225.4 billion in 2021 after they were hit by the coronavirus pandemic and dropped to as low as $169.5 billion in 2020.
The MTP export estimates were set at $255 billion for 2023 and $267 billion for 2024.
At $361.8 billion, imports in 2023 also came in below the program's estimate of $367 billion.
Sales in December alone rose 0.4% year-over-year to $23 billion, Erdoğan told an event in Ankara. Imports totaled $29.1 billion, the Turkish Exporters Assembly (TIM) data showed.
Exports are among the top priorities of the government it seeks to rely on to ensure sustainable economic growth
Türkiye has embraced more conventional policymaking after the May elections and delivered aggressive monetary tightening aimed at arresting soaring inflation, reducing trade deficits, rebuilding foreign exchange reserves and stabilizing the Turkish lira.
Since June, the central bank has lifted its one-week repo rate by 3,400 basis points to 42.5%. After its rate-setting meeting last month, it suggested it is closer to the finish line by saying it expects to "complete the tightening cycle as soon as possible."
The rate has led to much higher costs for mortgages, auto loans, business borrowing and many other forms of credit.
"Without compromising on production, employment, and economic growth, we aim to reduce inflation back to single digits," Erdoğan said.
Inflation rose to nearly 62% last month and is expected to peak at 70%-75% in May before dipping to about 36% by the end of 2024 as tightening cools prices.
"In case there are no new extraordinary events in the global economy, we will see the effects of our policies more clearly from the second half of the year," said Erdoğan.
Türkiye has also seen diminishing volatility in the lira exchange rate, which eased below the average volatility of developing countries.
The currency ended 2023 nearly 37% weaker against the U.S. dollar. It slid to a new record low beyond 29.7 against the greenback on Tuesday.
The policy pivot in the second half of the year seems to have been paying off, as Erdoğan touted the narrowing foreign trade and the current account deficits.
He recalled the surpluses in the current account balance in September and October, adding that the trend was expected to have continued in November and December as well.
"We have observed a persistent decrease in the trade deficit and current account deficit over the last five months. We believe that this improvement will continue in the upcoming period," the president noted.
The trade gap dropped to $106 billion, down 3.2% compared to $109.5 billion in 2022, according to the TIM data. The MTP estimated a shortfall of $112 billion.
The deficit fell about 37% in December to $6.1 billion.
The current account gap stood at $40.7 billion in the January-October period. On a 12-month basis, it reached $50.7 billion in October.
Trade Minister Ömer Bolat has cited the challenging global trade landscape throughout 2022, citing sluggish global production, particularly in the European Union, Türkiye's main trade partner, and a decline in global demand.
The country also suffered more than $6.5 billion in losses due to the devastating earthquakes in early February, which ripped through southeastern Türkiye, killing over 50,000 people, leveling hundreds of thousands of buildings, and severely damaging the infrastructure. The overall cost is estimated at about $104 billion, according to Erdoğan.
Erdoğan emphasized the ground Türkiye has covered over the last two decades, stressing that average monthly exports have reached $21.3 billion, compared to just $3 billion back in 2002.
"Our goal is not to leave any country where Turkish products are unrecognized and our exporters have not set foot," he noted.
Erdoğan hailed Türkiye's resilience despite multiple global challenges over the last few years, including the pandemic, global supply chain disruptions, the Russia-Ukraine war, and the raw material and energy crisis.
The economy expanded by a more-than-expected 5.9% year-over-year in the third quarter, accelerating from an upwardly revised 3.9% growth in the second quarter and 4% in the first. It achieved a 4.7% average growth in the first nine months of the year.
The economy is expected to end 2023 with a gross domestic product (GDP) growth of over 4% as activity begins to slow after aggressive monetary tightening meant to cool domestic demand and high inflation.
Erdoğan said Türkiye's share in global exports, which topped 1% for the first time in 2021, increased to 1.02% in 2022.
"This ratio rose to 1.03% in the first two quarters of last year. Alongside strong growth performance, our growth composition also developed positively," he said.
Last Update: Jan 02, 2024 4:43 pm
Türkiye's exports soar to record $255.8 billion in 2023: Erdoğan
Türkiye’s exports reached a new all-time high in 2023 despite global challenges, the crises in its near geography, and devastating earthquakes that...
Zafer
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Who is holding you from showing a Nominal GDP list, come on.
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You have to buy metals, raw materials, energy subject to real global market prices.
2023: Türkiye:17th
On the other hand total GDP of world increased 100 trillion USD. F....k . USD has also Inflation.
We are 87 million people moreover distribution of national income is horrible.
2023: Türkiye:17th
On the other hand total GDP of world increased 100 trillion USD. F....k . USD has also Inflation.
We are 87 million people moreover distribution of national income is horrible.
B_A
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We are talking about nominal gdp.....
If use PPP we are almost same level as Japanese....
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Please remember when we were 15-17th biggest economy in the world for instance 15-20 years ago population of Türkiye was how many million people?
"increasing population while dropping in the list" is not a success.
For instance a country ( which had 100 million population)20 years ago was 10th on the world GDP list. Then the country today has 80 million but still in the 10th place. Here is the success.
We were 13-15 economy in the history with much less people, but today we are 17the economy with the 88million. Where is the progress? So we can't use human resources effectively. Quality of Turkish economy decreasing.
"increasing population while dropping in the list" is not a success.
For instance a country ( which had 100 million population)20 years ago was 10th on the world GDP list. Then the country today has 80 million but still in the 10th place. Here is the success.
We were 13-15 economy in the history with much less people, but today we are 17the economy with the 88million. Where is the progress? So we can't use human resources effectively. Quality of Turkish economy decreasing.
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World Ranking;
* The percentages represent GDP growth in the last 5 years
GDP Source: IMF Estimates
| Türkiye | 2002 | 2007 | 2012 | 2017 | 2023 |
| GDP($B) * | 240.2 | 680.5 (183%) | 880.1 (29%) | 859 (-2.4%) | 1154 (34%) |
| GDP(Ranking) | 21st | 17th | 17th | 17th | 17th |
| GDP(per capita) | 74th | 63rd | 68th | 69th | 65th |
| GDP PPP | 18th | 18th | 15th | 13rd | 11th |
| GDP PPP(capita) | 64th | 65th | 62nd | 54th | 48th |
| Inflation Rate(Consumer) | 29.7% | 8.39% | 6.16% | 11.92% | 64% |
| Trade of Balance($B) | -15.5 | -62.8 | -84 | -74.2 | -106 |
* The percentages represent GDP growth in the last 5 years
GDP Source: IMF Estimates
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