According to the IMF, Turkey’s return to the top 20 in 2027

According to the latest IMF World Economic Outlook report, Turkey has dropped to the position of the 21st largest economy in the world with $806.8 billion in 2021.

In 2020, Turkey ranked 20th. However, with Saudi Arabia’s economy reaching a size of $833.4 billion, it dropped from the top 20 last year. In 2021, the US continued to be the world’s largest economy with 23 trillion dollars, followed by China with 17 trillion and 460 billion dollars and Japan with 4 trillion and 940 million dollars.

Top 25 economies in 2021:

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

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

Top 25 economic forecasts for 2022:

ORDER WILL NOT CHANGE IN 2023

The IMF announced its global growth forecast for 2023, the same as for 2022, at 3.6%. In that year, Turkey was expected to grow by 3%, again below the world average.

According to IMF estimates, Turkey still reaches an economic size of 714.3 billion dollars. In 2023, it will continue to hold its 23rd place in 2022.

Top 25 economic forecasts for 2023:

According to the report, Turkey will continue to rank 23rd in 2024. In 2025, it will overtake Poland, which will have a GDP of USD 913.2 billion and USD 883.3 billion, and rise to 22nd place.

$1 trillion by 2026

In 2026, however, Turkey will remain in 22nd place, but the important threshold of 1 trillion dollars will be left behind. In 2027, Turkey will return to the top 20 after a 7-year hiatus. Turkey will be the 19th largest economy in the world with 1 trillion of 140 billion dollars.

Top 25 economic forecasts for 2027:

While the US is predicted to be the world’s largest economy with 30 trillion 970 billion dollars in 2027, this country will be followed by China with 29 trillion 130 billion dollars, Japan with 6 trillion 260 billion dollars and India with 5 trillion 530 billion dollars.

IT WAS US$957 BILLION IN 2013

According to IMF data, Turkey reached the largest economic size in its history with 957.5 billion dollars in 2013. Turkey, which rose to the position of 16th largest economy in the world in that year, maintained this position also in 2014 and 2015.

The position of the Turkish economy in the world for years:

In 2016, it was transferred to Indonesia and dropped to 17th place. Then, in 2018, it dropped to 19th place, moving on to the Netherlands and Saudi Arabia. It dropped to 20th place in 2020.