Imtilak Properties

The country's gross national income rose to about 274% from 230 billion US dollars in 2002 to 861 billion dollars in 2016, said the Turkish Economy Minister Nihat Zeybekçi.

The minister added in his speech last Sunday at an economic forum in Muğla city, Turkey has an average economic growth rate of 5.6% between 2002 and the end of 2016.

Zeybekçi noted that Turkey is currently ranked 16th in terms of economic power worldwide and sixth European, although it faces many kinds of attacks and challenges.

He also said that the growth in the first quarter of 2016 was %4.5 and %1.8 in the last quarter of the same year.

The Turkish minister pointed out that Turkey's foreign trade volume has reached 87 billion dollars in 2002, while it has risen to 481 billion dollars by the end of 2014. "Turkey ranked second in the world of contracting and executes more than 9,000 projects in 114 countries in the world".

The Turkish economy was negatively affected in the fourth quarter of last year, due to the decline in the local currency exchange rate, but started to recover gradually in the first quarter of this year.