Makrognosis

Turkey Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:TR

Model score100 / 1009 Nov 2026
Grade equivalentAAAmodel-implied
BandUpper investment grade0–100 scale, 100 = strongest
Rank2nd of 84economies scored

Makrognosis sovereign credit model scores Turkey at 100 out of 100 as of 9 November 2026, equivalent to AAA on the familiar letter scale — upper investment grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Turkey 2nd of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 12.9% of GDP, a fiscal balance of −4.3% of GDP, a current account balance of −0.00% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Turkey sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026020406080100Robomacro
Turkey sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 2026100.0AAA
1 October 2026100.0AAA
31 July 2026100.0AAA
30 July 202651.2BB+
26 July 202653.3BBB-
21 June 202616.8CCC
18 June 202642.4BB-
Get the Turkey sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/TR"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/TR",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Turkey, from official national and international statistics.

InputValueVintage
GDP per capitaUS$18,5992026
Real GDP growth, 5-year average5.9%2026
Inflation, recent average31.2%2026
Government debt12.9% of GDP2026
Fiscal balance−4.3% of GDP2026
Current account balance−0.00% of GDP2026
External debt39.4% of GDP2026
Foreign-exchange reserves7.3 months of imports2026
Governance (World Bank WGI composite)−0.6262026

How Turkey compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
6Germany9 Nov 202694
7Ireland9 Nov 202694
8Sweden9 Nov 202694
9Norway9 Nov 202694
10Canada9 Nov 202691
11Australia9 Nov 202690
12Japan9 Nov 202689

All 84 economies ranked →

Turkey economic indicators

Turkey GDP (Gross Domestic Product)Turkey GDP at current prices (CBRT EVDS)Turkey Inflation Rate (CPI)Turkey Core Inflation RateTurkey Unemployment RateTurkey Unemployment rate (TurkStat via TCMB EVDS)Turkey Industrial ProductionTurkey Retail SalesTurkey Producer Price Inflation (PPI)Turkey Current account balance, USD million, monthly (TCMB balance of payments)Turkey Trade Balance: Goods & ServicesTurkey Exports of goods by BEC, total (TCMB EVDS), USD thousandTurkey Imports of goods by BEC, total (TCMB EVDS), USD thousandTurkey EmploymentTurkey M2 Money StockTurkey 10-Year Government Bond Yield

FAQ

What is Turkey's credit rating?
Makrognosis sovereign credit model scores Turkey at 100/100 as of 9 November 2026, equivalent to AAA (upper investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/TR returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.