 |
Turkey closing the gap with European economies
According to the International Monetary Fund’s (IMF) World Economic Outlook report dated October 2009, Turkey’s GDP valued at PPP was $188.8 million in 1985. This figure reached $330.3 billion in 1992 and rose to $869.1 billion last year, representing a 163.12 percent increase in the space of 17 years. During the same period, Spain’s GDP valued at PPP rose by 125.74 percent, while this figure was 115.08 percent for the UK, 89.64 percent for France, 81.6 percent for Russia, 71.4 percent for Germany and 66.06 percent for Italy.
The IMF expects Turkey’s GDP valued at PPP to increase further to $1.13 trillion in 2014, with its share in the overall European economy reaching 4.88 percent. The size of the Turkish economy currently amounts for 4.55 percent of the European economy overall, up from 3.4 percent in 1992.
The IMF data show that while Germany’s economy was 5.49 times the size of Turkey’s 25 years ago, this figure declined to 4.96 times in 1992. Currently Europe’s biggest economy, Germany is 3.23 times the size of the Turkish economy, and this figure is expected to decrease to 1.92 times by 2014, according to IMF forecasts.
Germany’s GDP valued at PPP was $1.04 trillion in 1985 and rose to $1.64 trillion in 1992 and $2.81 trillion in 2009. The IMF expects this figure to reach $3.29 trillion by 2014.
Accordingly, the economy of Russia, the second-largest in Europe, was 3.55 times the size of Turkey’s in 1992; this figure fell to 2.45 times last year. The IMF expects the Russian economy to reach $2.75 trillion in size in 2014, a figure which is 2.43 times the size of Turkey’s.
The economy of the UK, which rose from $696 million in 1985 to $1.01 trillion in 1992 and $2.16 trillion in 2009, is also predicted to reach $2.66 trillion by 2014. From 1985 to 1999 the gap between the British and Turkish economies fell from 3.69 times to 2.49 times in size. According to the estimates, this figure will decline to 2.35 in the next five years.
The IMF report foresaw France’s GDP valued at PPP to rise from $2.11 trillion in 2009 to $2.52 trillion in 2014, with its size compared to Turkey’s falling from the current 2.43 to 2.23 times by 2014.
|
||||||||||||||||||||||||||||||||||||||||||||||||||
| AMANDA PAUL |  |
||
| Ukraine: a lost country | |||
| MÜMTAZER TÜRKÖNE |  |
||
| The 52nd anniversary of May 27 | |||
| ABDULLAH BOZKURT |  |
||
| Turkey and Mexico: Distant yet so close | |||
| BERİL DEDEOĞLU |  |
||
| Yemen and beyond | |||
| ARZU KAYA URANLI |  |
||
| On Memorial Day a few words to make your day memorable | |||
| ABDÜLHAMİT BİLİCİ |  |
||
| Google kidnaps Gül! | |||
| CUMALİ ÖNAL |  |
||
| Critical months for Egypt | |||
| DOĞU ERGİL |  |
||
| Qualities of power | |||
| İHSAN YILMAZ |  |
||
| The Egyptian elections, Islam and Islamists | |||
| EMRE USLU |  |
||
| Operational errors | |||
| MARKAR ESAYAN |  |
||
| There is need for a new initiative | |||
| JOOST LAGENDIJK |  |
||
| Europe can’t have it all. Or can it? | |||
| HASAN KANBOLAT |  |
||
| Are Russian tourists being discouraged from visiting Turkey? | |||
| MELİH ARAT |  |
||
| Handmade | |||
| KLAUS JURGENS |  |
||
| Back to the ’80s | |||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||
