OECD-FAO report: Turkey’s growth will surpass India’s by 2017
Posted by meb at June 4th, 2008
Turkey’s growth rate is expected to rank third after China and India in coming years and to pass India and take the second spot by 2017 among Organization for Economic Cooperation and Development (OECD) member countries, according to a new report.
The 14th edition of the Agricultural Outlook, prepared jointly by the OECD and the Food and Agriculture Organization of the United Nations (FAO), notes that Turkey grew an annual average of 7.2 percent between 2002 and 2006. The report also predicts a 5.4 percent growth rate in Turkey for 2008 and 5.7 percent for 2009. According to the report Turkey’s annual average growth rate will be 5.5 percent between 2010 and 2017.
The Agricultural Outlook report estimates that China’s growth rate will drop to 8.2 percent from double digit rates after 2010. Turkey is expected to rank third for growth rate in the next 10 years, right after India and China. India will see a higher growth rate than Turkey until 2014; then, the report predicts, its annual growth rate will decline to 5.3 percent while that of Turkey will continue to climb, exceeding this rate. Russia is expected to rank directly below Turkey in the next 10 years.
The report also provides estimations for population growth rates. The rates of population increase in countries that are currently seeing rapid growth are expected to decline sharply. The population growth rate of one of the fastest growing countries, India, is estimated to decrease to 1.22 percent in 2017, while it is currently close to 1.50 percent. South Korea’s population growth rate is expected to decline to 0.09 percent from its current level of 0.36 percent. Turkey’s population growth rate is expected to be 1.28 percent this year and to drop to 1.01 percent by 2017.
source: Today’s Zaman
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