The "Turkish Economic Review" for the first half of 2026 (January-June No. 2) published by the Center for Analysis of Economic Reforms and Communication (CERACC) in cooperation with the Secretariat of the Organization of Turkic States (OTS) in 8 languages ​​has been published.

The review, prepared by the Center for Turkic World Studies of the CERACC, presents an analysis of the economic indicators of the member countries of the Organization of Turkic States (OTS) - Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey and Uzbekistan, as well as the observer members Hungary, Turkmenistan and the Turkish Republic of Northern Cyprus (TRNC) - for the first half of 2026. The review assesses the potential of the OTS members and their impact on the global economy based on the latest economic development indicators.

In the first half of 2026, the Turkic states had a 2.11% share in the global economy with a GDP of 1.33 trillion USD, and their population of 178.8 million constituted 2.8% of the global population. These indicators indicate that the Turkic states occupy an important place both economically and demographically.

During the reporting period, the Turkic states demonstrated faster development with a GDP growth of 5.86% compared to the global growth rate of 1.51% (quarterly cumulative). Kyrgyzstan, Uzbekistan and Turkmenistan demonstrated growth rates of 11.9%, 8.5% and 6.3%, respectively, ensuring sustainable development in the industrial and agricultural sectors. Economic growth in the TRNC was 6.0%, and in Kazakhstan 4.1%. Turkey, having the largest economy in the organization, achieved economic growth of 2.5%. The GDP growth rate in Azerbaijan was 0.8%.

Trade is important for both global integration and economic integration among TCT countries. In the first half of 2026, the total trade turnover of TCT member states was approximately 679.7 billion USD, which is approximately 3.58% of the estimated global trade turnover of 18.96 trillion USD.

Turkey leads the way with the highest trade turnover, with 325,036 million USD. Hungary, Kazakhstan, Uzbekistan and Azerbaijan traded 187,905 million USD, 71,791.8 million USD, 41,011.2 million USD and 26,054.2 million USD, respectively.

Kyrgyzstan, TRNC, Uzbekistan, Kazakhstan, Turkey, Turkmenistan and Azerbaijan have seen sustained export growth in the agricultural and industrial sectors. These figures show the diversity of trade dynamics in the region and the strong export performance of the Turkic states.

In the industrial sector, Kyrgyzstan and Uzbekistan led the way with growth of 12.7% and 8%, respectively. Meanwhile, the industrial sectors of TRNC and Kazakhstan grew by 6.7% and 3.3%. This growth was influenced by large-scale manufacturing and infrastructure projects. The industrial sectors in Turkmenistan and Hungary grew by 2.7% and 2.1%.

On the other hand, in the agricultural sector, Turkey showed the strongest growth with 10%. Agriculture grew by 6.2% in TRNC, 4.7% in Uzbekistan, 4.4% in Kazakhstan, 4.3% in Kyrgyzstan, 2.2% in Azerbaijan, and 2.0% in Turkmenistan.

Investment in fixed capital is crucial for long-term growth. In the first half of 2026, Kyrgyzstan and TRNC recorded a 64.3% and 43.77% increase in fixed capital investment, respectively, supported by large investments in infrastructure, energy and manufacturing. Uzbekistan, Azerbaijan, Kazakhstan and Hungary recorded healthy growth in fixed capital investment of 17.5%, 13.8%, 9.6% and 7.4%, respectively, increasing their foreign direct investment and achieving positive developments in their business environments.

The banking sector in the Turkic countries also showed significant growth. During the reporting period, the total assets of the banking sector in Kyrgyzstan increased by 55.9%, in TRNC by 38.81%, in Turkey by 32.9%, in Uzbekistan by 25.7%, in Kazakhstan by 14.4% and in Hungary by 10.2%. These indicators are based on the strengthening of financial services that support economic development and investment. Azerbaijan's banking sector showed a more moderate (7.4%) growth.

The performance of the state budget is another important indicator of economic health. Uzbekistan recorded the highest growth in state budget revenues, with 43.7% and state budget expenditures, with 51.5%, Kyrgyzstan recorded the highest growth in state budget revenues, with 48.8% and state budget expenditures, with 41.3%. The TRNC recorded a high growth in state budget revenues, with 40.75% and 34.66%, respectively. Turkey recorded a high growth in state budget revenues, with 39.4% and 31.8%, respectively. Kazakhstan and Hungary demonstrated effective financial management, showing stable growth in both revenues and expenditures.

The Turkic states outperformed global growth in terms of GDP growth and trade turnover, and achieved significant investments.

The “Turkic Economic Review” is traditionally presented in a total of 8 languages: the languages ​​of the OTS member and observer states, as well as English. You can access the publications in these languages ​​via the links below:

In Azerbaijani: Türk İqtisadi İcmalı: yanvar-iyun 2026

In English language: Turkic Economic Outlook: January - June 2026

In Russin language: Тюркский Экономический Обзор: январь-июнь 2026

In Turkish language: Türk Cumhuriyetleri Ekonomik Görünümü: Ocak-Temmuz 2026

In Hungarian labguage: Türk Gazdasági Helyzetkép: január-június 2026

in the Uzbek language: Turkiy Davlatlarning Iqtisodiy Ko'rishi: 2026 yil yanvar-Iyun

in the Kazakh language: Түркі Mемлекеттерінің Экономикалық Көзқарасы: Қаңтар - Маусым 2026

in the Kyrgyz language: Түрк өлкөлөрүнүн экономикалык болжолдоосу: 2026-жылдын январь-июнь