Türkiye External Debt
Total external debt stocks DT.DOD.DECT.CD
Türkiye's external debt was $537.9B in 2025, ranked 5th globally. This represents a 4.4% increase from 2024. Data from World Bank, covering 1970–2025.
Overview
Türkiye's external debt stood at $537.9B in 2025, a rise of +$22.9B from 2024. Based on recent trends, this figure is projected to reach $537.9B by 2025. Türkiye ranked 5th globally.
Turkey’s external debt has expanded dramatically over the 56‑year span from US$2,746,453,200.20 in 1970 to US$537,890,539,185.37 in 2025, placing the country fifth globally. The surge reflects successive borrowing cycles, with the most recent peak coinciding with the 2025 reporting year, a level that dwarfs the 1970 trough by nearly 196 times. Compared with peers, Turkey’s debt sits between Indonesia’s US$407,252,237,257.47 and Mexico’s US$581,345,185,187.86, while Brazil and the Russian Federation remain higher. The rapid accumulation mirrors periods of high fiscal deficits, currency depreciation, and reliance on external financing to support growth and infrastructure projects. Although the debt‑to‑GDP ratio remains a concern, modest improvements in export performance and fiscal consolidation could temper the upward trajectory, while any sharp reversal in global financing conditions would likely accelerate debt growth.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $585.2B | - | - |
| 2026* trend | $561.5B | - | - |
| 2025* trend | $537.9B | - | - |
| 2025 | $537.9B | +$22.9B | #5 |
| 2024 | $515.0B | +$15.2B | #113 |
| 2023 | $499.8B | +$43.9B | #114 |
| 2022 | $456.0B | +$21.1B | #116 |
| 2021 | $434.9B | +$5.6B | #115 |
| 2020 | $429.3B | +$14.9B | #115 |
| 2019 | $414.3B | −$11.4B | #115 |
| 2018 | $425.8B | −$21.2B | #115 |
| 2017 | $446.9B | +$48.0B | #115 |
| 2016 | $398.9B | −$517.1M | #115 |
| 2015 | $399.5B | −$14.3B | #115 |
| 2014 | $413.8B | +$11.6B | #113 |
| 2013 | $402.2B | +$48.8B | #113 |
| 2012 | $353.4B | +$32.4B | #113 |
| 2011 | $321.0B | +$4.3B | #112 |
Detected Pattern
Analysis
Türkiye matched the Stagflation Risk pattern in 2020. Historically, 38% of countries showing this pattern (117 out of 307) saw external debt improve within 24 months. View full analysis →
Frequently Asked Questions
Türkiye's external debt was $537.9B in 2025. Ranked 5th globally. This represents a 4.4% increase from the previous year.
Türkiye's external debt peaked at $537.9B in 2025.
The lowest external debt in Türkiye was $2.7B in 1970.
Türkiye ranks 5th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Türkiye's external debt is projected to reach $537.9B by 2025 based on trend extrapolation.
Türkiye's external debt was approximately 537.89 billion ($537.9B) in 2025.
The external debt of Türkiye in 2025 was $537.9B. This ranks 5th in the world.
Cite this page
@misc{historysaid_turkiye_external-debt,
title = {Türkiye External Debt},
url = {https://historysaid.com/turkiye/external-debt/},
publisher = {HistorySaid},
year = {2026}
}