The Turkish Economy among the
Top 20 Economies in the World in 2027

Will Turkey be able to re-enter the top 20 economies?

Turkey regressed from the league of 'the world's 20 largest economies' in 2021 by falling to 21st place.

The IMF's World Economic Outlook Report dated April 2022 makes forecasts about the state of the country's economies until the end of 2027.

According to IMF forecasts, Turkey, which has declined to the 21st largest economy in the world with $806.8 billion in 2021, will decline to the 23rd rank in 2022. The Turkish economy was last in 23rd place in 2001.

The Turkish economy, which is expected to continue to be the 23rd in GDP ranking in 2023, is expected to be among the 20 largest economies in the world in 2027.

In 2020, Turkey was in 20th place. However, with the Saudi Arabian economy reaching a size of 833.4 billion dollars, it fell from the top 20 as of last year. In 2021, the USA continued to be the world's largest economy with 23 trillion dollars, followed by China with 17 trillion 460 billion dollars and Japan with 4 trillion 940 million dollars.

In 2022, the IMF expects the post-pandemic recovery to be interrupted due to Russia's attempt to invade Ukraine. For this reason, global growth, which was 6.1% last year, is expected to decline to 3.6% this year. The IMF predicts that Turkey will grow by 2.7% this year, below the world average.

As a result of these, it was predicted by the IMF that by the end of 2022, the Turkish economy would fall to 23rd place, surpassing Taiwan and Poland with 692.4 billion dollars.