Dec 29 2017

Turkish economy now almost double Iran's - pro-government paper

Turkey’s gross domestic product (GDP) has grown from $273 billion to $793 billion since 2000, almost doubling that of Iran, pro-government Turkish newspaper Yeni Şafak said.

In comparison, Iran's economy grew only marginally from $357 billion to $368 billion in the same period.

The comparison reflects a recent statement by Turkey’s President Recep Tayyip Erdoğan, who said, “We see those who have the oil, we see those who have the money, but we have got way ahead of them.”

Using the IMF’s World Economic Outlook database, the news report said Turkey’s GDP grew from $94 billion in 1980 to $202 billion in 1990, and kept its rank as world’s 20th biggest economy, on average.

The most recent World Bank data shows that Turkey’s GDP grew more than its oil-producing neighbours in the Middle East, but slower than the TIMBI group of countries (with India, Mexico, Brazil and Indonesia) that it was once compared with.

GDP (current US$) of selected countries. Source: World Bank and OECD.
GDP (current US$) of selected countries. Source: World Bank and OECD.