Türkiye (Turkey)

Economy & industry overview

Türkiye is an upper-middle-income emerging-market economy and the 17th largest in the world by nominal GDP, with a highly diversified base spanning manufacturing, finance, tourism, construction, agriculture, and defence industries. The country is a member of the G20, OECD, and operates within the EU Customs Union, giving it deep trade integration with European markets. Following a period of extremely high inflation driven by unorthodox monetary policy, authorities pivoted in mid-2023 to orthodox tightening, raising the benchmark rate from 8.5% to 50% by March 2024, and inflation has been on a gradual downward trajectory since its peak. The economy grew approximately 3.3% in 2024 and is underpinned by strong domestic consumption, a dynamic private sector, and record IPO activity on Borsa Istanbul. Key structural challenges include persistent inflation, lira volatility, high external financing needs, and youth unemployment.

Key sectors

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Macro

GDP nominal, USD	$1.32T
GDP growth real, annual	3.3%
Inflation annual	32.1%
Population people	85.4M
GDP per capita USD	$15,148
Market cap total listed, USD	$465.60B
Market cap / GDP	30.1%
Unemployment	8.4%
Listed companies	656
Exchange	Borsa İstanbul (BIST)

Data year: 2024. Sources: World Bank World Development Indicators 2024, IMF World Economic Outlook April 2026, Trading Economics, CEIC Data – Borsa Istanbul Market Capitalization, Baker McKenzie Cross-Border Listings Guide – Borsa Istanbul (Feb 2026), Turkish Statistical Institute (TÜİK), FocusEconomics, Macrotrends, Wikipedia – Economy of Turkey, BIST 100, Borsa Istanbul, Turkish Ministry of Environment and Urbanisation – Citizenship by Investment, Daily Sabah – IMF Article IV 2025.

Local exchange & access

Exchange	Borsa İstanbul
Code	BIST
Website	www.borsaistanbul.com
Currency	TRY

Local broker access

Foreign investors can access Borsa İstanbul equities through local Turkish brokerage accounts (e.g. İş Yatırım / Is Investment, Yapı Kredi Yatırım, Garanti BBVA Yatırım) or through international brokers with emerging-market access. US-listed ETFs such as TUR (iShares MSCI Turkey ETF) provide indirect equity exposure without requiring a local brokerage account. Some Turkish companies have US-listed ADRs or GDRs. Capital gains on equities held by foreign investors are generally exempt from Turkish withholding tax under most bilateral tax treaties. Repatriation of investment proceeds is permitted under Turkish law subject to standard AML documentation.

Global brokers with foreign-market access

• Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
• Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
• Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
• Fidelity International Trading — International stock trading on a number of developed and emerging markets.

Listed for convenience only — not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.

Relocation & residency

Foreign-investor access

Türkiye is a popular destination for digital nomads, retirees, and entrepreneurs. Foreign nationals may obtain a short-stay residence permit (up to 2 years, renewable) upon application to the Provincial Directorate of Migration Management with proof of accommodation and financial sufficiency. A long-term residence permit is available after 8 years of continuous legal residence. Istanbul and Ankara are the primary business hubs; the country has no income tax on foreign-sourced income for new residents under certain conditions, but local employment income is taxed progressively. Cost of living is generally lower than Western Europe, though inflation has significantly eroded real purchasing power.