New IMF data: Turkey crossed $2 trillion mark in PPP (now 13th largest in the world)

[AUz]

I don't know if members here have seen this, but the new IMF April 2017 world economic outlook update is out and it has given updated economic figures for all countries.

Previous figures were based on 2015 upgrade of base numbers. With the new base data, Turkey's economy has crossed $2 trillion$ mark and is now the 13th largest economy in the world (based on Purchasing Power Parity in International Dollars)

GDP based on Purchasing Power Parity in International Dollars

Interestingly, Turkey is now a bigger economy (in PPP) than Saudi Arabia, South Korea and Spain.

Turkish GDP per capita (PPP) is $25,000+ now

Turkish members...comments? Are you surprised? Did you know about it?

What's going on here? Turkey added almost $200 billion to $300 billion in its overall GDP evaluation.

Did you government change the base-year or anything? I read something about that previously.

@flamer84

 

[flamer84]

I don't know if members here have seen this, but the new IMF April 2017 world economic outlook update is out and it has given updated economic figures for all countries.

Previous figures were based on 2015 upgrade of base numbers. With the new base data, Turkey's economy has crossed $2 trillion$ mark and is now the 13th largest economy in the world (based on Purchasing Power Parity in International Dollars)

GDP based on Purchasing Power Parity in International Dollars

Interestingly, Turkey is now a bigger economy (in PPP) than Saudi Arabia, South Korea and Spain.

Turkish GDP per capita (PPP) is $25,000+ now

Turkish members...comments? Are you surprised? Did you know about it?

What's going on here? Turkey added almost $200 billion to $300 billion in its overall GDP evaluation.

Did you government change the base-year or anything? I read something about that previously.

@flamer84

You know very well that I consider PPP measurement just as a feel good one with no real value in monetary terms like the nominal one so I don t understand why you tagged me.

 

[hussain0216]

Well done Turkey, superb performance from the Turks, keep improving your country

And well done to the mighty Erdogan, keep slapping your enemies Ottoman style

 

[T-123456]

Not to be taken to serious.

 

[Attila the Hun]

Turkish members...comments? Are you surprised? Did you know about it?

No, we still have room for improvement. 13th isn't all that great to be honest.

Interestingly, Turkey is now a bigger economy (in PPP) than Saudi Arabia, South Korea and Spain.

I am surprised about this though.

 

[what]

The government changed the way GDP is calculated, so take it with a grain of salt.

 

[KediKesenFare3]

The government changed the way GDP is calculated, so take it with a grain of salt.

The gov't cannot change the methodology of the IMF. The data is correct. Look at the international ranking in terms of GDP (PPP) per capita. 25k USD isn't in fact that much: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

We're in the same category with Russia, Kazakhstan, Romania, Malaysia etc.

GDP PPP comparison
Russia: $ 4 trillion
Germany: $4,1 trillion
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

That's the weak spot of PPP data.

 

[Trango Towers]

enemies of turkey will make excuses. turkey on the other hand continues to grow.

 

[what]

The gov't cannot change the methodology of the IMF. The data is correct. Look at the international ranking in terms of GDP (PPP) per capita. 25k USD isn't in fact that much: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

We're in the same category with Russia, Kazakhstan, Romania, Malaysia etc.

GDP PPP comparison
Russia: $ 4 trillion
Germany: $4,1 trillion
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

That's the weak spot of PPP data.

Maybe you can tell us how the IMF calculates its GDP, but I'm sure that they cant do without the numbers from Turkey and the methodology in Turkey has been changed (http://www.reuters.com/article/us-turkey-economy-idUSKBN1411IR). If they do so please enlighten me, because I dont think they have access to all the necessary statistics from every single country in the world.

 

[AUz]

The government changed the way GDP is calculated, so take it with a grain of salt.

If government is calculating the GDP by internationally accepted methods--then there's no problem. No?

Turkey was supposed to cross $2T market around 2020. But seeing it crossing 2T mark now is what surprises me

 

[what]

If government is calculating the GDP by internationally accepted methods--then there's no problem. No?

Turkey was supposed to cross $2T market around 2020. But seeing it crossing 2T mark now is what surprises me

You can medle a lot with how you calculate your GDP. I dont think there is a international standard for GDP calculation. Some countries add illegal prostitution and drugs.

Fact is Turkish methodology was adjusted right around when the economy retracted I believe in the last quarter of 2016. I'm just stating facts.

 

[Mr.Nair]

Mean while top 6 in 2017

 

[Chinese-Dragon]

Turkey is doing surprisingly well, considering the chaos on their doorstep in Syria. If I were Turkey I would wash my hands of Syria completely.

Also, PPP is a very flawed measure, according to the PPP data, China is the largest economy in the world, which is clearly not correct.

 

[blondeturkish]

Mean while top 6 in 2017

View attachment 392354

china is ahead of usa how?

 

[Mr.Nair]

Looks like for PPP, interesting facts:-

Pakistan adding 50 billion dollar every year
Turkey adding 250 billion dollar every year
India adding 1000 billion dollar ever year
China adding 2000 billion dollar every year