In 14 years, the center of gravity of the Turkish economy has changed
According to data prepared in cooperation with the Turkish Statistical Institute (TurkStat) and the Central Bank of the Republic of Turkey (CBRT), the trade sector had the lion’s share in terms of the number of firms in Turkey in 2009 with 38.6 percent. The latest data showed that by 2023, the highest share had shifted to the service sector with 34 percent.
While the deindustrialization trend has continued in the last 14 years of the Turkish economy, the share of the service sector has reached its peak.
According to sector balance sheet data, the service sector had the highest share with 34 percent in terms of the number of firms as of 2023. This sector was followed by trade with 32.3 percent.
In 2009, when the data set started, the trade sector was in the first place with a share of 38.6 percent. The services sector was in second place with 27.1 percent in 2009.
These data show that the center of gravity of the economy has shifted to the service sector in the intervening 14 years.
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