Net incurrence of liabilities, total (% of GDP) in Turkey
Turkey: Net incurrence of liabilities, total (% of GDP) was 5.3% in 2024. ◆ Volatile
Net incurrence of liabilities, total in Turkey, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Turkey recorded 5.3% for net incurrence of liabilities, total in 2024.
That represents a change of down 22.6% on the previous year and up 476.9% over ten years.
Over the whole period, net incurrence of liabilities, total in Turkey peaked at 8.3% in 2020 and was at its lowest, 0.6%, in 2013.
Turkey ranks 37th of 136 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total (% of GDP) in Turkey, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 1.8% | — |
| 1973 | 1.5% | -14.3% |
| 1974 | 1.5% | -1.2% |
| 1975 | 1.1% | -27.2% |
| 1976 | 1.6% | +48.8% |
| 1977 | 5.0% | +209.4% |
| 1978 | 3.5% | -30.9% |
| 1979 | 4.9% | +42.5% |
| 1980 | 3.1% | -37.5% |
| 1986 | 2.5% | -19.8% |
| 1988 | 3.6% | +47.5% |
| 1989 | 3.5% | -4.1% |
| 2008 | 1.8% | -47.1% |
| 2009 | 5.7% | +209.2% |
| 2010 | 2.7% | -53.5% |
| 2011 | 1.8% | -33.6% |
| 2012 | 1.0% | -41.2% |
| 2013 | 0.6% | -38.0% |
| 2014 | 0.9% | +43.6% |
| 2015 | 1.3% | +38.7% |
| 2016 | 2.2% | +68.4% |
| 2017 | 3.2% | +49.7% |
| 2018 | 3.1% | -2.7% |
| 2019 | 4.7% | +48.1% |
| 2020 | 8.3% | +78.6% |
| 2021 | 4.1% | -50.6% |
| 2022 | 7.6% | +85.6% |
| 2023 | 6.9% | -9.8% |
| 2024 | 5.3% | -22.6% |
Turkey compared with similar countries
- Turkey's 5.3% is above the median for upper middle income countries, which is 2.9%, 1.9× the median. (47 countries reporting)
- Turkey's 5.3% is above the median for Europe & Central Asia, which is 3.4%, 1.6× the median. (34 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.6% | 1.1% | 5.0% | 8 |
| 1980s | 3.2% | 2.5% | 3.6% | 4 |
| 2000s | 3.8% | 1.8% | 5.7% | 2 |
| 2010s | 2.1% | 0.6% | 4.7% | 10 |
| 2020s | 6.5% | 4.1% | 8.3% | 5 |
Countries ranked near Turkey
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Frequently asked questions
- What is net incurrence of liabilities, total in Turkey?
- Net incurrence of liabilities, total in Turkey was 5.3% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Turkey?
- The highest recorded value was 8.3% in 2020.
- What is the lowest net incurrence of liabilities, total recorded in Turkey?
- The lowest recorded value was 0.6% in 2013.
- How does Turkey rank for net incurrence of liabilities, total?
- Turkey ranks 37th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in Turkey?
- Over the last ten years it is up 476.9%. The long-run trend across the full record is volatile.
- Where does this Turkey data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.