Turkey is a country that is partially located in Asia and partially in Europe, which makes it difficult to determine its position in the economic ranking of European countries. However, Turkey is classified as an emerging economy, and according to the International Monetary Fund, Turkey ranks eighth among European countries in terms of Gross Domestic Product, after the European Union, Norway, Switzerland, Russia, Turkmenistan, Ukraine, and Georgia. In 2020, Turkey's Gross Domestic Product amounted to about 717 billion US dollars. Turkey has seen an increase in economic growth in recent decades, with the agricultural, industrial, and service sectors being the most important sectors of the Turkish economy. Turkey enjoys a strategic location that makes it a center for trade between East and West.
