Republic of Türkiye

Some facts about Türkiye

• As of 2024, Türkiye is the 12th largest economy in the world and the 4th largest economy in Europe in terms of GDP according to Purchasing Power Parity
• Türkiye is one of the fastest-growing economies globally. The annual average GDP growth of Türkiye between 2002-2024 is 5.3%. Türkiye recorded a growth rate of 3% in 2024.
• Per capita national income increased by 17% to 15.463 USD in 2024.
• The total population of Türkiye in 2024 is 85.7 million, half of which is under the age of 34.4.
• Türkiye is a member of the Customs Union of the EU, which allows direct access to the EU market. Moreover, Türkiye has Free Trade Agreements with 30 countries. Therefore, Türkiye has free market access to a population of 1 billion customers.
• Türkiye’s good exports increased by 2.4% in 2024 and reached 261.8 billion USD. Service exports of Türkiye increased by 8.1% in 2024 and reached 115.2 billion USD. The annual average growth of exports of Türkiye between 2002-2023 is 9.8%.

Trade with Türkiye

Türkiye and Canada enjoy growing bilateral trade ties, with two-way merchandise trade exceeding approximately CAD 4 billion annually. Turkish companies are increasingly exploring the Canadian market. Key Turkish exports to Canada include:

• Foods (especially fruits and nuts)
• Textiles, garments
• Machinery and appliances
• Iron and steel products
• Automotive parts
• Ships and yachts

For up-to-date economic indicators, trade figures, and market trends of Türkiye, please refer to the Economic Outlook Report by the Ministry of Trade.

Investing in Türkiye

Türkiye offers a wide range of opportunities for foreign investors, supported by its strategic location, large domestic market, young and skilled labor force, and robust infrastructure.

To learn more, see the Why Invest in Türkiye report prepared by the Presidency Investment Office. It outlines Türkiye’s competitive sectors, investment incentives, and macroeconomic fundamentals.

Key industries attracting foreign investment include:

• Renewable energy
• Technology and startups
• Manufacturing (automotive, machinery, chemicals)
• Tourism and health tourism
• Agribusiness and food processing

Tourism in Türkiye

Türkiye is one of the world’s leading tourism destinations, welcoming over 60 million international visitors annually. Türkiye offers a wide range of tourism options thanks to its diverse geography, rich historical heritage, and cultural depth. With coastlines along the Black Sea, Marmara, Aegean, and Mediterranean seas, Türkiye attracts visitors with both its natural and historical assets.

More information is available at Türkiye’s official tourism portal:
GoTürkiye.com

Trade and Investment Support Organizations

Investment Office of the Presidency of Turkey – www.invest.gov.tr
Turkish Exporters Assembly (TİM) – www.tim.org.tr
Türkiye-Canada Business Council (DEİK) – www.deik.org.tr