Turkey GDP

The Gross Domestic Product (GDP) in Turkey was worth 789.30 billion US dollars in 2012. The GDP value of Turkey represents 1.27 percent of the world economy. GDP in Turkey is reported by the The World Bank Group. From 1960 until 2012, Turkey GDP averaged 185.5 USD Billion reaching an all time high of 789.3 USD Billion in December of 2012 and a record low of 8.0 USD Billion in December of 1961. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. This page provides - Turkey GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
789.30 774.80 789.30 8.00 830.38 | 2014/06 1960 - 2012 USD Billion Yearly

TO

Turkey GDP
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.50 2013-12-31 0.80 6.69 -7.57 0.19 2013-12-31 Percent [+]
GDP Annual Growth Rate 4.40 2013-12-31 4.30 12.60 -14.70 3.23 2013-12-31 Percent [+]
GDP Constant Prices 31244878.90 2013-11-15 32998647.40 32998647.40 14436128.60 30983256.01 2014-06-30 TRY THO [+]
Gross Fixed Capital Formation 7923527.50 2013-11-15 7444591.60 7923527.50 82266.40 7786018.49 2014-03-31 TRY THO [+]
Gross National Product 30561324.60 2013-11-15 32442970.00 32442970.00 14600600.00 29412324.74 2014-03-31 TRY THO [+]
GDP per capita 8492.61 2012-12-31 8413.32 8492.61 2315.94 8900.13 2014-06-30 USD [+]
GDP per capita PPP 13737.22 2012-12-31 13608.95 13737.22 5986.22 14396.41 2014-06-30 USD [+]
GDP 789.30 2012-12-31 774.80 789.30 8.00 830.38 2014-06-30 USD Billion [+]
[+]


GDP | Notes
The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output. GDP can be defined in three ways, which should give identical results. First, it is equal to the total expenditures for all final goods and services produced within the country in a specified period of time (usually a 365-day year). Second, it is equal to the sum of the value added at every stage of production by all the industries, plus taxes and minus subsidies on products. Third, it is equal to the sum of the income generated by production like compensation of employees, taxes on production and imports less subsidies, and gross operating surplus.


RELATED NEWS

Turkey Unemployment Rate Edges Up Slightly in January  
Turkish jobless rate increased for the third consecutive month in January of 2014 to 10.1 percent, up from 10.0 percent in the previous month, but decreased compared with 10.6 percent recorded a year earlier.
Turkish Inflation Rate Rises Further in March  
Turkey’s annual inflation rate accelerated to 8.39 percent in March of 2014, from 7.89 a year earlier and 7.29 percent recorded in February of 2014, as food and transportation costs edged up. This is the highest rate in eight months.
Turkey GDP Expands 0.5% in Q4  
Turkey's seasonal and calendar adjusted GDP advanced 0.5 percent in the last quarter of 2013, while GDP growth reached 4.0 percent in 2013.
Turkey’ Trade Deficit Narrows To Lowest in Nearly 3-1/2 Years  
The trade deficit decreased in February of 2014 to USD -5.1 billion from USD -7.0 billion a year earlier and USD -6.9 billion in January of 2014. Compared with February of 2013, manufacturing exports climbed while imports of agriculture and manufactured goods decreased.
Turkish GDP Growth Beats Expectations in Q4  
In the last three months of 2013, the Turkish economy expanded 4.4 percent over a year earlier, up from a revised 4.3 percent in the previous three months and above market expectations.
Turkey Leaves Rates on Hold  
At its March 18th, 2014 meeting, the Central Bank of Turkey decided to leave the benchmark repo rate unchanged at 10 percent and the overnight lending rate at 12 percent, as January’s rate hike helped to stabilize the lira.
Turkish Unemployment Rate at 10%  
In December of 2013, Turkey’s jobless rate edged marginally higher to 10 percent from 9.9 percent in the previous month. A year earlier, unemployment was recorded at 10.1 percent.
Turkey Inflation Rate Edges Higher  
In February of 2014, Turkish annual inflation rate accelerated for the third straight month to 7.89 percent from 7.75 percent in the previous month. On a monthly basis, prices decelerated to 0.43 percent, following a 1.98 percent rise a month earlier.
Turkish Trade Deficit Narrows in January  
Turkey’s trade deficit decreased in January of 2014, to USD -6.8 billion from USD -7.3 billion a year earlier and USD 9.9 billion in December of 2013. Exports to the European Union increased by 13.7 percent with Germany as the main exports’ partner and Russia as the top country for imports.
Turkish Monetary Policy Unchanged in February  
At its February 18th, 2014 meeting, the Central Bank of Turkey decided to leave the benchmark repo rate on hold at 10 percent and the overnight lending rate at 12 percent. Last month, the central bank rose rates sharply aiming to stabilize the lira.
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LATEST NEWS

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At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.
Hong Kong Unemployment Rate Unchanged in March  
Hong Kong’ seasonally adjusted jobless rate remained steady at 3.1 percent for the third consecutive period in January to March of 2014, down from 3.5 percent a year earlier.
Hong Kong Inflation Rate Unchanged in March  
Hong Kong annual consumer prices rose 3.9 percent in March of 2014, the same rate recorded in February. In the first quarter of 2014, the inflation rate rose by 4.2 percent over a year earlier. The corresponding increase after netting out the effects of all Government's one-off relief measures was 3.8 percent.
China Cuts Reserve Ratio for Rural Banks  
The People's Bank of China decided to cut the reserve requirement ratio by 2 percentage points for rural commercial banks and by 0.5 percentage point for rural credit cooperatives, aiming to stimulate growth in some parts of the country. The cut will be effective from April 25th, 2014.
Japanese Trade Deficit Widens in March  
Japan’s trade gap increased to a wider-than-expected ¥ 1446.3 billion in March of 2014, up from a revised ¥ 802.5 billion deficit in the previous month and a ¥ 356.9 billion gap a year earlier, as energy imports continued to rise.
Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
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