The report estimated that Turkey's GDP would increase to $710.833 billion in 2014.

The figure pointed to a narrowing gap between Turkey and European countries as the change was 125.74 percent in Spain, 115.8 percent in Great Britain, 89.64 percent in France, 81.6 percent in Russia, 71.4 percent in Germany, and 66.06 percent in Italy.

The report said in 1985 and in 2009 Germany's economy was 5.49 and 3.23 times the size of Turkey's economy, respectively. The report also estimated Germany's economy would be 1.92 times the size of Turkey's economy in 2014.

The report said the share of Turkey in Europe's economy increased to 4.55 percent in 2009 from 3.4 percent in 1992 as IMF estimated that the figure would be 4.88 percent in 2014.Turkey's gross domestic product with current prices soared to $869.1 billion as of 2009 from $330.3 billion in 1992, marking a 163.12 percent increase on purchasing power parity, an IMF report said Monday.

IMF report says Turkey GDP more than doubled in 1992-2009 period

Change

$Million  $Million     $Million    $Million    2009/1992

Countries      1985      1992      2009      2014        (%)

1            Germany    1035,5    1637,6    2807,0    3285,5       71.4

2             Russia            n/a    1170,9    2126,4    2749,0       81.6

3      Great Britain       696,0    1005,9    2163,5    2654,8     115.1

4             France        746,8    1113,9    2112,3    2519,2      89.6

5              Italy          710,5    1054,4    1750,9    2021,4      66.1

6              Spain        374,5      604,1    1363,8    1567,2     125.7

7             Turkey       188,8      330,3     869,1    1132,2     163.1

8             Poland        180,6     224,4     685,6      891,4      205.5

9    The Netherlands   206,3     314,3     659,3     775,3      109.8

10            Belgium      130,5      194,8     383,3     454,0       96.7

11            Sweden     117,8       162,3     331,2    414,6     104.1

12            Ukraine         n/a       266,1      294,6    401,2      10.7

13             Greece     106,3     145,8     344,4     395,0      136.2

14            Austria       109,6     162,9     323,0     382,6       98.3

15        Switzerland     120,7     172,0     314,4     362,6       82.8

16            Romania     122,7     110,7     251,7     344,9      127.5

17         Czech Rep.      97,1     111,7     254,4     322,2      127.7

18             Norway       78,1     112,7     256,3     305,5      127.4

19           Portugal        69,4     123,8     232,5     266,8       87.8

20            Denmark      75,7     104,4     202,4     243,3       93.8

21            Hungary       75,9      82,7     186,1     233,5      125.0

22            Finland         61,5      81,3     182,0     220,4      124.0

23            Ireland         31,6      50,4     174,9     202,2      247.2

24            Belarus          n/a      44,6     119,6     167,9      167.9

25           Slovakia          n/a       n/a     115,7     156,0

26           Bulgaria         50,9      52,7      89,0     110,6       68.7

27             Serbia           n/a       n/a      77,8     103,6

28            Croatia           n/a      34,2      79,3     100,1      132.0

29           Slovenia          n/a      21,5      57,5      72,3      167.2

30          Lithuania          n/a      26,5      52,7      63,6       99.3

31         Luxembourg      7,2      14,2      38,8      46,9      173.8

32 Bosnia-Herzegovina     n/a       n/a      29,9       40,1

33             Latvia           n/a      13,7      32,3      38,5      136.6

34            Albania          7,1       6,0      22,4       31,6      272.4

35            Estonia         n/a       n/a      24,1        28,8

36 Greek Cypriot side     5,6       8,8      23,0        28,5      161.1

37          Macedonia      n/a      10,3      18,6        24,7       80.6

38            Iceland         3,5       4,9      11,9        14,0      140.8

39            Moldova       n/a       7,8       9,9         12,8       26.0

40              Malta         2,4       4,5       9,8         12,0      117.9

41         Montenegro    n/a       n/a       6,8           8,5