The 2025 year-end issue of the "Turkic Economic Review," presented in eight languages by the Center for Analysis of Economic Reforms and Communication (CAERC) in cooperation with the Secretariat of the Organization of Turkic States (OTS), has been published.

Prepared by the Turkic World Research Center (TWRC) at CAERC based on preliminary statistics, the review provides an economic indicator analysis for 2025 of the OTS member states - Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, and Uzbekistan - as well as observer states Hungary, Turkmenistan, and the Turkish Republic of Northern Cyprus (TRNC). Drawing on recent economic development indicators, the review assesses the potential of OTS members and their impact on the global economy.

In 2025, the Turkic states accounted for a 2% share of the global economy with a GDP of 2.11 trillion USD, while their combined population of 178.8 million constituted 2.8% of the global population. These indicators demonstrate that the Turkic states hold a significant position both economically and demographically.

During the report period, based on preliminary indicators, the Turkic states demonstrated faster development with a 5.2% GDP growth rate, compared to the global growth rate of 3.2%. Kyrgyzstan, Uzbekistan, and Kazakhstan achieved growth rates of 11.1%, 7.7%, and 6.5% respectively, ensuring sustainable development in their industrial and agricultural sectors. Economic growth stood at 6.3% in Turkmenistan and 4.5% in the TRNC. Meanwhile, Türkiye, which possesses the organization's largest economy, achieved an economic expansion of 3.6%. The GDP growth rate was 1.4% in Azerbaijan and 0.4% in Hungary.

Trade turnover holds substantial importance for both global integration and economic integration among OTS countries. In 2025, the total trade turnover of the Turkic states reached 1.12 trillion USD, accounting for approximately 3.6% of the global trade turnover, which stands at 34 trillion USD.

Türkiye recorded the highest trade turnover at 638.731 billion USD. Meanwhile, Kazakhstan and Uzbekistan conducted trade worth 143.888 billion USD and 81.160 billion USD, respectively.

According to preliminary figures, Kazakhstan and Uzbekistan experienced sustained export growth in their agricultural and industrial sectors. These metrics highlight the diverse trade dynamics in the region and show that Turkic states are capitalizing on strong export performances.

In the industrial sector, Kyrgyzstan and Kazakhstan led with growth rates of 10.6% and 7.4%, respectively. Concurrently, the industrial sector expanded by 6.8% in both Uzbekistan and Turkmenistan. This growth was driven by large-scale manufacturing and infrastructure projects. In Türkiye, the industrial sector grew by 4.5%.

On the other hand, Turkmenistan demonstrated the strongest growth in the agricultural sector at 7%. Agriculture expanded by 5.9% in Kazakhstan, while Uzbekistan, Hungary, and the TRNC each achieved a 4.4% increase.

Investments, particularly in fixed capital, are vital for long-term growth. In 2025, Kyrgyzstan and Türkiye showed robust increases in fixed capital investments of 18.4% and 15.1% respectively, backed by heavy investments in infrastructure, energy, and manufacturing. Kazakhstan and Uzbekistan also posted healthy growth in fixed capital investments at 13% and 10.5% respectively, boosting their foreign direct investments and achieving positive developments in their business environments.

The banking sector across the Turkic states also exhibited substantial growth. During the report period, total assets in the banking sector increased by 44.9% in Kyrgyzstan, 41% in Türkiye, 25.5% in Uzbekistan, and 11% in the TRNC, Kazakhstan, and Hungary alike. These figures stem from the strengthening of financial services that support economic development and investments. The banking sector of Azerbaijan showed a more moderate growth of 7.7%.

State budget performance serves as another vital indicator of economic health. The TRNC recorded the highest increases, with state budget revenues rising by 51.8% and expenditures by 52.4%. Kyrgyzstan also registered high growth, with state budget revenues up by 44% and expenditures by 41%. Azerbaijan, Türkiye, and Uzbekistan demonstrated effective fiscal management, showing stable growth in both revenue and expenditure fields.

Overall, the Turkic states outperformed global averages in terms of GDP growth and trade turnover, and achieved substantial investment milestones.

The "Turkic Economic Review" is traditionally presented in a total of eight languages, including English and the respective native languages of the OTS member and observer states. You can access the publications in these languages via the links below:

Azerbaijani: https://ereforms.gov.az/az.pdf

English: https://ereforms.gov.az/en.pdf

Russian: https://ereforms.gov.az/ru.pdf

Turkish: https://ereforms.gov.az/tr.pdf

Hungarian: https://ereforms.gov.az/hu.pdf

Uzbek: https://ereforms.gov.az/uz.pdf

Kazakh: https://ereforms.gov.az/kz.pdf

Kyrgyz: https://ereforms.gov.az/kr.pdf