Turkey is a country that straddles both Europe and Asia, and its economy is one of the largest in the region. However, when it comes to its ranking among European countries, there are a few different ways to approach the question.
In terms of gross domestic product (GDP), which measures the value of all goods and services produced within a country, Turkey is currently the 19th largest economy in the world, according to the International Monetary Fund (IMF). When looking specifically at Europe, Turkey is the sixth largest economy, behind Germany, France, the United Kingdom, Italy, and Spain.
However, when it comes to per capita GDP, which measures the average income per person in a country, Turkey falls much lower in the rankings. According to World Bank data from 2020, Turkey has a per capita GDP of around $9,000, which puts it below the European Union average and well behind many other European countries such as Switzerland, Norway, and Luxembourg.
Another way to compare the Turkish economy to those of other European countries is by using various economic indicators. For example, the World Economic Forum produces an annual competitiveness report that ranks countries based on factors such as infrastructure, institutions, and innovation. In the most recent report, Turkey was ranked 55th out of 137 countries, placing it behind many European countries such as Sweden, Germany, and Austria.
Similarly, the World Bank produces an annual "Ease of Doing Business" report that ranks countries based on factors such as starting a business, getting credit, and enforcing contracts. In the most recent report, Turkey was ranked 54th out of 190 countries, again placing it behind many European countries such as Denmark, Norway, and the United Kingdom.
Overall, while Turkey has a large and growing economy, its ranking among European countries varies depending on the specific measure being used. While it is the sixth largest economy in Europe by GDP, it falls much lower in the rankings when it comes to per capita income or various economic indicators.
