The concept of fragility, which adversely affects the macroeconomic indicators of the countries in the domestic and foreign conjuncture developments and which leads to instability by increasing risk and uncertainty in the economies of the countries, has started to come to the fore due to the instability and crises experienced in the world economy in recent times. In this study, it is aimed to analyze the macroeconomic vulnerability of Turkey and Balkan countries comparatively for 2007-2017 periods. From this perspective, the literature on macroeconomic vulnerability has been examined and performances of Turkey and Balkan countries have been analyzed through various basic economic indicators. In the analysis, six key variables were used to measure macroeconomic vulnerability: fiscal vulnerability (budget balance/GDP, public debt/GDP), financial vulnerability (the ratio of domestic loans to the private sector, annual credit growth rates) and external vulnerability (current balance/GDP, and foreign currency reserve/GDP). It was determined in the comparison that the factors that led to fragility in the Turkish economy were the current balance/GDP, annual credit growth rate and foreign currency reserve/GDP, while Kosovo has the least fragility in the budget balance / GDP, and domestic credit growth, and Bulgaria has the least fragility in foreign exchange reserve/GDP, budget balance/GDP and public debt/GDP ranked first. Greece is the most vulnerable country among the countries surveyed with its current balance/GDP, foreign exchange reserve/GDP, budget balance/GDP, public debt/GDP and fragility in domestic credit growth.