Turkey GDP Growth Beats Expectations in Q4

The Turkish economy expanded 2.6 percent year-on-year in the last three months of 2014, compared with an upwardly revised 1.9 percent increase reported in the previous period. Yet, considering full 2014, the GDP slowed sharply due to a drop in investment and lower household consumption.

Year-on-year, exports grew 3.4 percent while imports rose at a faster 4.6 percent. Household consumption increased 2.4 percent and government spending went up 1.7 percent.  In contrast, gross fixed capital formation shrank for the fourth straight quarter by 1 percent. 

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.7 percent in the last three months of 2014. 

Considering full 2014, the GDP grew 2.9 percent, lower than a 4.2 percent increase in 2013. Gross fixed capital formation contracted 1.3 percent while household consumption slowed sharply to 1.3 percent. 

Turkey GDP Growth Beats Expectations in Q4

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
3/31/2015 1:04:41 PM