Turkey is the 11th largest economy in the world and the 4th in Europe
Turkish Vice President Cevdet Yılmaz announced that Turkey is the 11th largest economy in the world and the 4th largest in Europe based on gross domestic product at purchasing power parity, and has recently surpassed Italy.
At the “Turkey Business World Meeting” in Tirana, the capital of Albania, he said that the Turkish economy continues to grow with a stable and reliable structure, and that the country’s economic value will exceed 1.5 trillion dollars in 2025.
Yılmaz predicted that by the end of 2025 Turkey’s exports will reach 273.8 billion dollars and tourism revenues will reach 64 billion dollars, while the current account deficit will remain at a reasonable level of 1.4 percent of GDP.
Referring to the economic relations between Turkey and Albania, he added: “The trade volume between the two countries will approach one billion dollars in 2024, and in addition, 120 million dollars have been exchanged in the services sector.”
Yılmaz stated that Turkish contracting companies have so far carried out 37 projects worth more than 1.8 billion dollars in Albania, although no new projects have been launched in this field since 2021. He also noted that Turkey’s direct investments in the finance, energy, trade, mining, industrial agriculture, and tourism sectors have reached about one billion dollars, creating direct employment for more than 2,500 people.
He concluded by emphasizing the Turkish government’s support for investors in Albania, saying that the existing administrative and bureaucratic problems would be raised in official meetings with Albanian officials in order to pave the way for increased economic cooperation between the two countries.
