At the end of WWI, when the Ottoman Empire collapsed, the Turkish economy was underdeveloped: its agriculture depended on outmoded techniques and poor-quality livestock, and the few factories producing basic products such as sugar and flour were under foreign control. In addition the emigration of Greeks, Armenians and Jews deprived the country of skilled labourers and entrepreneurs.
The economic policies followed by the Republic of Turkey after 1922 were mainly directed at achieving self-sufficiency in agriculture and at developing a basic manufacturing structure. Economic reforms were introduced in the early 1980s: they were designed at encouraging exports that could finance imports. From the beginning of this millennium the country has experienced average GDP growth rates of more than 7%.