Turkey GDP Growth Smallest Six Years

2026-08-31 07:20 By Kyrie Dichosa 1 min. read

The Turkish economy expanded 2.3% year-on-year in Q2 2026, easing from an upwardly revised 2.6% growth in Q1 and coming in below the expected 2.9% increase.

This marked the softest economic expansion since a contraction in Q2 2020, as growth slowed in household consumption (3.5% vs 5.1% in Q1) and fixed investment (0.6% vs 3.1%).

Government spending also declined by 1.8%, following a 0.8% increase in the previous period.

In net trade, exports fell 3.4% (vs -12.7%), while imports dropped at a faster pace of 6.4% (vs -2.0%).

On the production side, output contracted for construction (-1.9% vs 3.2%), while activity growth moderated for trade, transportation, accommodation and food services (0.5% vs 3.5%), and information and communication (8.6% vs 9.0%).

In contrast, output rebounded for manufacturing (2.4% vs -1.3%), while it accelerated for agriculture, forestry and fishing (13.3% vs 4.8%).

On a quarterly basis, GDP grew 1.1%, the most in a year, following a 0.3% expansion in Q1.



News Stream
Turkey GDP Growth Smallest Six Years
The Turkish economy expanded 2.3% year-on-year in Q2 2026, easing from an upwardly revised 2.6% growth in Q1 and coming in below the expected 2.9% increase. This marked the softest economic expansion since a contraction in Q2 2020, as growth slowed in household consumption (3.5% vs 5.1% in Q1) and fixed investment (0.6% vs 3.1%). Government spending also declined by 1.8%, following a 0.8% increase in the previous period. In net trade, exports fell 3.4% (vs -12.7%), while imports dropped at a faster pace of 6.4% (vs -2.0%). On the production side, output contracted for construction (-1.9% vs 3.2%), while activity growth moderated for trade, transportation, accommodation and food services (0.5% vs 3.5%), and information and communication (8.6% vs 9.0%). In contrast, output rebounded for manufacturing (2.4% vs -1.3%), while it accelerated for agriculture, forestry and fishing (13.3% vs 4.8%). On a quarterly basis, GDP grew 1.1%, the most in a year, following a 0.3% expansion in Q1.
2026-08-31
Turkey GDP Growth Softest in a Year
The Turkish economy expanded 2.5% year-on-year in Q1 2026, easing from 3.4% in Q4 and below expectations for 2.7% growth. This marked the softest expansion in a year, as growth slowed in household consumption (4.8% vs 5.2%) and fixed investment (3.0% vs 5.4%). Net trade also weighed on growth as exports plunged 12.7%, while imports declined at a slower pace of 2.0%. In contrast, government spending recovered, rising 2.1% after a 0.9% contraction. On the production side, manufacturing contracted 1.4% after growing 0.9% previously, while growth slowed in construction (3.2% vs 8.6%), trade and transport (3.7% vs 4.2%), and financial and insurance activities (3.5% vs 4.1%). Meanwhile, agriculture, forestry and fishing rebounded 4.6% after a 7.2% decline, while information and communication accelerated to 9.5% from 8.9%. On a quarterly basis, GDP grew 0.1%, the weakest pace since a contraction in Q2 2024 and down from 0.4% previously.
2026-06-01
Turkey GDP Growth Slows in Q4
The economy of Turkey grew 3.4% year-on-year in the fourth quarter 2025, easing from a revised 3.8% expansion in the third quarter and coming in slightly below market expectations of 3.5%. Fixed investment growth slowed sharply (5.4% vs 11.5% in Q3), while government expenditure dropped (-0.9% vs 2.5%). Net trade also weighed on GDP, as exports declined (-2.3% vs -0.8%) while imports rose (3.8% vs 4.4%). However, these were partly offset by a sustained increase in household consumption (5.2% vs 4.3%). On the production side, activity moderated across most sectors, particularly in manufacturing (0.9% vs 7.6%), construction (8.6% vs 14.1%), trade, transportation, accommodation, and food services (4.2% vs 6.5%), and financial and insurance activities (4.1% vs 11.1%). On a quarterly basis, GDP rose 0.4%, slowing from a revised 1.0% increase in the previous quarter. For the full year 2025, the economy expanded 3.6%, just below market forecasts of 3.7%.
2026-03-02