Turkey’s GDP to exceed $1 trillion by 2014
Posted by meb at November 12th, 2008
Turkey’s gross domestic product (GDP) will be $968.2 billion by 2013 and its economy will surpass $1 trillion for the first time in its history by 2014, a recent report by the International Monetary Fund (IMF) predicts.
If current growth tendencies stay the same, Turkey will still be the 17th largest economy in the world by the time it passes the $1 trillion threshold, it said.
In its predictions for the five-year period between 2008 and 2013, the fund estimated that Turkey’s GDP will be $798.9 billion by the end of this year but will retreat to $789 billion in 2009. This downturn will be ephemeral and the economy will start growing again, the report states. It notes that the country’s GDP will be $828.5 billion in 2010, $874.3 billion in 2011 and $920.7 billion in 2012.
The US, which enjoys an annual GDP of $14.3 trillion, will increase this amount by $3 trillion in the next five years, the IMF projected. Russia, whose current GDP is nearly as half that of Germany, will almost catch Germany in 2013, it said. According to the IMF report, after five years, Germany will have $4.4 trillion and Russia will have $3.7 trillion in GDP. Russia will leave behind France, Britain and Italy to become the fifth-largest economy in the world following Germany. China will dethrone Japan by 2010 and rise as the world’s second-largest economy. With a current GDP of $1.6 trillion, Brazil will exceed $2 trillion by 2013. India’s GDP will rise to $1.98 trillion from $1.2 trillion in the next five years, the IMF report estimates.
source: Today’s Zaman
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