Recent developments in the Turkish economy
Gençkaya, Ö. F.
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During the past fifteen years of Justice and Development Party's (AKP) rule Turkey has experienced important gains in income and living standards. Over the period 2002-2016, the real per capita income has increased by 78.5%, and the transformation into an industrial and service economy has been ongoing, with agriculture still accounting for 7.9% of GDP and 20.7% of total employment. However, Turkey's catch-up with advanced economies has slowed since 2008, and progress has increasingly diverged from the historic record of the 2002-2007 period. Furthermore, political developments within Turkey and in the surrounding region started to have lasting influence on economic developments in Turkey.