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EU Candidate State
Turkey was one of the first countries to become a member of the Council of
Europe in 1949. The country was also an associate member of the Western
European Union from 1992 to its end in 2011. Turkey signed a Customs Union
agreement with the EU in 1995 and was officially recognised as a candidate for
full membership on 12 December 1999, at the Helsinki summit of the European
Council. Negotiations for full membership were started on 3 October 2005.
High GDP Per Capita
Turkey has experienced the highest GDP growth in the World with an increase
of %7,4. OECD and World Bank forecast that real GDP growth of Turkey raises
an annual average of 3.5% until 2020.
Between 2005-2015:
• Turkey’s GDP increased by 45% to US $ 720 billion in nominal value.
• Annual average real GDP growth is 3.8%.
• The share of the budget deficit in GDP has fallen from 10% to 0.1%.
• In terms of comparasion;
• Compound Annual Growth Rate (CAGR) of Euro Area is 3.1% whereas the
same ratio is 6.2% in Central Europe.
• CAGR of Turkey is 6.4% and higher than MENA Region where it is 4.3%.
Large and Young Population
Population in Turkey was 80.1 million in 2017. It is expected that the population
will increase to 84 million in 2023 and 93,5 in 2050 according to
Turkish Statistical Institute (TUIK). Turkey has the youngest population across
the Europe.