The Turkish economy is a developing free market economy. Turkey is a founding member of the OECD and the G20, and is classified among the E7, GOBLEs, and YGUs.

By 2025, the Turkish economy will be the 16th largest economy in the world and the seventh largest in Europe in terms of nominal GDP. It is also the 12th largest economy in the world and the sixth largest in Europe in terms of purchasing power parity. According to the International Monetary Fund, Turkey is an upper-middle-income, mixed-market emerging economy, while according to the World Bank, Turkey will enter the high-income category in terms of GDP per capita by 2024. It is the fourth most visited destination in the world and has over 1,500 research and development centers established by multinational and national companies. Turkey is among the world’s leading producers of agricultural products, textiles, motor vehicles, transportation equipment, construction materials, consumer electronics, and home appliances.