Population (2017): 80.8 million
GDP (2017): US$851 billion
World Bank “Ease of Doing Business” Rank (2018): 60th
Bilateral Trade with Singapore: S$1.03 billion
Trading Partner Rank (2017): 42nd
Turkey’s economic growth rebounded after the global financial recession, with an average annual growth of over 6% from 2010 through 20161. With healthy long-run growth prospects, it is projected to be the world’s 11th largest economy by 2050, ahead of countries such as France and Saudi Arabia, on the back of a 3% average annual growth rate2.
1: World Bank
2: PwC report, 2017
Turkey enjoys strong historical, cultural and economic ties with countries in the neighbouring regions of Southern Europe, the Commonwealth of Independent States (CIS) and the Middle East. Singapore companies can tap these linkages to expand into nearby countries, either by using Turkey as a hub or by partnering with Turkish companies.