Business

Turkish economy shares top spot in fastest growth among OECD nations

Turkish, Spanish economies grew 3.2% in 2024, as of latest data, and Indonesia tops G20 with 5.03% growth, but India’s data set for release expected to boast highest growth

ANKARA Türkiye shared the top spot with Spain in the fastest-growing economies last year among countries in the Organization for Economic Cooperation and Development (OECD) whose data have been released. Türkiye and Spain’s growth rate reached 3.2% in 2024, followed by the US with 2.

8%, Lithuania with 2.7%, and Norway with 2.1%.

Meanwhile, Austria’s economy shrank 1% and Germany’s contracted 0.2%, as of the latest growth data from OECD countries. Among the G20 nations, Indonesia had the fastest-growing economy with 5.

03% growth in 2024, followed by China with 5% and Russia with 4.1%. Türkiye and Spain shared the same spot among the G20 at fourth place, but India’s growth rate set to be announced at 1200GMT on Friday is expected to be ahead of those two countries.

India’s economy is estimated to grow 6.4% in 2024, which would place the country at the top of the G20, with Türkiye and Spain remaining among the top five..