6/14/2011

Turkey to far outpace neighbors in GDP growth rate

Dunya - Turkey’s economic growth during the period 2011-2016 is expected to surpass those of its neighbors by a significant margin, according to IMF data. The gross domestic product (GDP) growth rate of Turkey over the next five years --estimated to be around 45.3 percent-- will overshadow the surrounding countries’ estimated average growth of 33.3 percent.

Based on IMF projections, Turkey’s GDP will hit USD 1.159 billion in current prices by 2016, while the combined total GDP of surrounding countries amounts to USD 1.407 billion.

Of Turkey’s neighboring countries, Greece is expected to have the lowest growth rate between 2011 and 2016 with 12 percent, while southern neighbor Iraq is expected to grow at a rate of 81.4 percent. Among other adjacent countries, Syria is expected to grow by 52.3 percent, Iran by 34.1 percent, Azerbaijan by 33.1 percent, Bulgaria by 32.8 percent, Armenia by 30.3 percent and Georgia by 21.7 percent, in the given period.
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