Since the party swept to power in 2002, per capita income
has soared, inflation
has fallen to historic lows, as have interest rates, and the government's modest budget deficit and public debt stock ratios are the envy of many floundering European Union states.
Major structural imbalances remain, however, and could yet jeopardise a largely positive outlook for the emerging economy.
Turkey aspires to be within the top 10 world economies by the time of its centenial in 2023, from a current 16.
Its robust financial sector and ability to fund itself independently and at ever lower borrowing costs have put it within reach of a longed-for investment grade rating, which could come after Sunday's vote.
But rampant growth, a low savings rate and increased dependance on flows of "hot money" have driven Turkey's external deficits to critical highs.
Although the country recovered quickly from the financial crisis of 2009, it contracted almost 5 percent that year, a reminder of its vulnerability in the event of any global shocks.
Turkey's increased wealth has also not been spread evenly. The country's Anatolian heartland and the predominantly Kurdish southeast are still much poorer and lacking in investment.
Unemployment is stubbornly high and economic growth has not so far translated into sustained job creation.
The following table shows major economic indicators at the time of the last two parliamentary elections in 2002 and 2007.
2002 2007 2010 INFLATION (PCT) 29.7 8.4 6.4 GDP ($ BLN) 231 657 736 GDP GROWTH (PCT) 6.2 4.7 8.9 GDP PER CAPITA ($) 3,492 9,234 10,079 EXPORTS ($ BLN) 36 107.3 113.93 IMPORTS ($ BLN) 51.6 170.1 185.49 JOBLESS RATE (PCT) 10.3 10.3 11.9 TOURISM REVS ($ BLN) 8.5 18.49 20.8 C.ACC DEFICIT/GDP -0.3 -5.9 -6.6 FDI ($ BLN) 1.14 22 8.9 GOVT DEBT STOCK (BLN TL) 215 248.4 317.4 PUBLIC DEBT STOCK/GDP 73.7 39.4 41.6 BUDGET DEFICIT/GDP (PCT) 11.5 1.6 3.6