The Turkish economy has achieved high GDP growth rates after it overcame the deepest economic crisis of its history in 2001. This is mainly due to regulations and audits to decrease the banking sector's fragility, sound fiscal policies and mass privatizations of public enterprises. The average yearly growth rate of GDP was about 5% between 2002 and 2012.
Turkish import and export activities have been increasing from the early 2000s, except during the global economic crisis in 2009. The average annual growth rate between 2002 and 2013 was approximately 14% for exports and 15% for imports. During the same period, trade volume in services has been increasing as well.
The current account deficit was $75.1 billion in 2011, about 10% of the GDP, before decreasing to $48.5 billion (about 6% of GDP) in 2012. The current account deficit increased again in 2013 to $64.9 billion, about 8% of GDP.
As a result of the "open door" policy of the country, the number of foreign and joint ventures has increased up to today. Foreign investments remain an important factor for the continuation of stable social and economic development in the country. Average net inflows of foreign direct investment to the country have been 1.8% of GDP for the period 2002–2012.