Report: Turkey will be world's 13th largest economy by 2026

The Turkish economy will grow to the 13th largest in the world in 2026, outpacing a number of major economies such as Italy and Canada, a recent study using International Monetary Fund figures has predicted. Turkey's share of the global economy will continue to rise steadily in the years ahead, the study utilizing IMF long-term expectations found. Turkey's gross domestic product (GDP) will be the 16th highest in the world by the end of this year, the study claimed. Turkey's GDP, which was 1.03 percent of global GDP in 1985, will be 1.35 percent this year, according to the study. The US share is estimated to be 19.6 percent by the end of 2010, whereas that of China will be 12.73 percent. The study also estimated that China will dethrone the US as the world's largest economy in 2017, predicting that China's share of global GDP will be 17.49 percent that year while the US' will decline to 17.26 percent. India is expected to rise to the number three position with 6.18 percent. According to the study, the US share of global GDP will continue to fall through 2026, making it much less powerful than China.