Turkey's GDP is Estimated $501.5 billion for 2007 (11.02.2008)

* Turkey’s GDP for 2007 expected to exceed $500 billion: Biggest Muslim Economy

The economic growth rate, which was equal to 3.8 percent for the first three quarters of 2007 with GDP increasing 1.5 percent in the third quarter, was significant.

Turkey's GDP will be $501.5 billion in the event that the growth rate for the fourth quarter is equal to that of the first three quarters -- covering the January to September period -- with the help of increasing inflation.

In addition the GNP per capita, which was expected to be $6,625, will grow to $7,139 as a recent census showed the population below expected levels. Although growth is at a standstill, the GDP will increase to $7,075 per capita in the last quarter.

GNP per capita exceeding $7,000 almost certain

The growth rate in the last quarter may be low and thus may decrease the annual growth rate average. Thus, if the average growth rate for 2007 is below 3.5 percent, the GNP will then exceed $500 billion.

The GDP is in all likelihood expected to exceed $7,000 per capita. The annual average growth must drop below 1.8 percent for GDP per capita to fall below $7,000. However, considering the current situation, such an outcome is impossible. An economic slowdown of more than 4.4 percent is needed to record a 1.8 percent growth rate in the last quarter of 2007.

According to several growth rate possibilities in the last quarter and the annual average growth rate, the latest projected amount of population and the annual average dollar price as well as the recent growth rate in the last quarter and the GNP per capita for 2007 are shown in the table.