Private Jets & Porsches: The Rich Kids Of Istanbul

The economy of Turkey is an emerging market economy as defined by the International Monetary Fund.Turkey is among the world's developed countries according to the CIA World Factbook. Turkey is also defined by economists and political scientists as one of the world's newly industrialized countries. With a population of 83.4 million as of 2021, Turkey has the world's 20th-largest nominal GDP, and 11th-largest GDP by PPP.The country is among the world's leading producers of agricultural products, textiles, motor vehicles, transportation equipment, construction materials, consumer electronics and home appliances.Over the past 20 years, there have been major developments in the economic and social aspects of Turkey's economy. There have been increases in levels of employment and income since 2000. However, due to significant changes in external factors such as an increase in Syrian refugees and a reduction in economic reforms, Turkey has slowed down in its economic progress.