Turkey GDP Annual Growth Rate  1999-2018 | Data | Chart | Calendar

The Turkish economy grew by 5.2 percent year-on-year in the second quarter of 2018, easing from a downwardly revised 7.3 percent expansion in the previous three-month period. It was the weakest growth rate since the last quarter of 2016, as household consumption and fixed investment increased at a softer pace. Meanwhile, government spending jumped and net external demand contributed positively to the expansion as a slump in the lira boosted exports. GDP Annual Growth Rate in Turkey averaged 4.87 percent from 1999 until 2018, reaching an all time high of 11.70 percent in the first quarter of 2011 and a record low of -14.40 percent in the first quarter of 2009.

Turkey GDP Annual Growth Rate
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Turkish GDP Growth Slows to 5.2% in Q2


The Turkish economy grew by 5.2 percent year-on-year in the second quarter of 2018, easing from a downwardly revised 7.3 percent expansion in the previous three-month period. It was the weakest growth rate since the last quarter of 2016.

On the expenditure side, household consumption increased 6.3 percent in the second quarter, after a 9.3 percent jump in Q1; and fixed investment rose 3.9 percent, following a 7.9 percent climb in the previous period. Meanwhile, government spending went up at a faster 7.2 percent (vs 4.9 percent in Q1), and net external demand contributed positively to the GDP growth, as exports surged 4.5 percent (vs 0.7 percent in Q1) buyoed by a persistent currency weakness and imports advanced at a much softer 0.3 percent (vs 15.4 percent in Q1).

On the production side, services output grew 8 percent (vs 10.4 percent in Q1), mainly boosted by public administration, education, human health and social work activities (13.1 percent vs 4.5 percent); financial and insurance activities (12.1 percent vs 3 percent); and information and communication (7 percent vs 5.9 percent) On the other hand, a slowdown was seen in real estate activities (0.2 percent vs 3.4 percent), and a contraction was recorded in professional, administrative and support service activities (-1.3 percent vs 12.1 percent). Industrial production grew by 4.3 percent (vs 8.1 percent in Q1), driven by manufacturing (4.7 percent vs 8.7 percent), and construction output advanced by 0.8 percent (vs 6.6 percent). Meanwhile, agiculture shrank by 1.5 percent after a 6.1 percent increase in the previous period.

On a seasonally adjusted quarterly basis, the economy expanded by 0.9 percent in the second quarter, following a downwardly revised 1.5 percent growth in the previous period.


Turkish Statistical Institute | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/10/2018 7:28:11 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-29 07:00 AM GDP Growth Rate YoY 7.3% 11.3% 7% 10.4%
2018-06-11 07:00 AM GDP Growth Rate YoY 7.4% 7.3% 7% 7.5%
2018-09-10 07:00 AM GDP Growth Rate YoY 5.2% 7.3% 5.1%
2018-12-10 07:00 AM GDP Growth Rate YoY 5.2% 4.4%


Turkey GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.90 1.50 5.60 -5.20 percent [+]
GDP Annual Growth Rate 5.20 7.30 11.70 -14.40 percent [+]
GDP 851.10 863.72 950.58 8.02 USD Billion [+]
GDP Constant Prices 431004380.20 395219653.60 464822255.50 148486309.20 TRY THO [+]
Gross Fixed Capital Formation 131111320.50 114770398.40 138694476.00 82266.40 TRY THO [+]
GDP per capita 14933.27 14117.44 14933.27 3134.78 USD [+]
GDP per capita PPP 25129.34 23756.48 25129.34 11289.91 USD [+]
GDP From Agriculture 17144988.00 10310599.00 54317249.00 6480266.00 TRY THO [+]
GDP From Construction 33150631.50 26861295.00 36146657.30 5582784.30 TRY THO [+]
GDP From Manufacturing 73484897.10 70613834.80 79601043.70 23491042.00 TRY THO [+]
GDP From Public Administration 45407124.72 42245602.00 45407124.72 21779242.77 TRY THO [+]
Gdp From Services 98843234.10 92153254.30 107042725.30 35367503.20 TRY THO [+]


Turkey GDP Annual Growth Rate

On the expenditure side, household consumption is the main component of Turkish GDP and accounts for 70 percent, followed by gross fixed capital formation (22 percent) and government expenditure (15 percent). Exports of goods and services account for 27 percent of GDP while imports account for 32 percent, subtracting 5 percent from total GDP. This page provides the latest reported value for - Turkey GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
5.20 7.30 11.70 -14.40 1999 - 2018 percent Quarterly
NSA




GDP annual growth rate by Country
Country Last
India 8.20 Jun/18
China 6.70 Jun/18
Indonesia 5.27 Jun/18
Turkey 5.20 Jun/18
Singapore 3.90 Jun/18
Australia 3.40 Jun/18
Switzerland 3.40 Jun/18
Netherlands 3.10 Jun/18
United States 2.90 Jun/18
South Korea 2.80 Jun/18
Spain 2.70 Jun/18
Mexico 2.60 Jun/18
Euro Area 2.10 Jun/18
Germany 2.00 Jun/18
Canada 1.90 Jun/18
Russia 1.90 Jun/18
France 1.70 Jun/18
United Kingdom 1.30 Jun/18
Italy 1.20 Jun/18
Saudi Arabia 1.15 Mar/18
Brazil 1.00 Jun/18
Japan 1.00 Jun/18
South Africa 0.40 Jun/18
Argentina -4.20 Jun/18


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