Turkey GDP Growth Rate 1998-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Turkey contracted 0.50 percent in the second quarter of 2014 over the previous quarter. GDP Growth Rate in Turkey averaged 0.94 Percent from 1998 until 2014, reaching an all time high of 6.69 Percent in the second quarter of 2009 and a record low of -7.57 Percent in the first quarter of 2009. GDP Growth Rate in Turkey is reported by the Turkish Statistical Institute.

   
 
 

Turkey GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
-0.50 1.80 6.69 -7.57 1998 - 2014 Percent Quarterly
Turkey is a rapidly developing country and the largest national economy in Central and Eastern Europe. Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that still accounts for about 30% of employment. It has a strong and rapidly growing private sector, yet the state remains a major participant in basic industry, banking, transport, and communication. This page provides - Turkey GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Turkey GDP Growth Rate - was last refreshed on Friday, October 24, 2014.


Turkey GDP Contracts 0.5% QoQ in Q2


The Turkish economy contracted a seasonally adjusted 0.5 percent quarter-on-quarter in the second quarter of 2014, following a revised 1.8 percent expansion in the previous period. It is the first contraction in more than two years as agriculture, manufacturing and trade shrank.

On a quarter-on-quarter seasonally and calendar adjusted basis, agriculture shrank 2.7 percent, manufacturing fell 0.5 percent and wholesale and retail trade contracted 0.1 percent. Financial and insurance activities decreased 3.2 percent.

The mining sector rose a meager 0.2 percent and construction remained flat. Meanwhile, real estate activities advanced at a
faster 0.5 percent and transportation and storage rose 1 percent.

Year-on-year, the GDP expanded 2.1 percent in the second quarter of 2014, slowing from a revised 4.7 percent expansion in the previous quarter.

Turkstat l Rida l rida@tradingeconomics.com
9/10/2014 9:45:14 AM


Recent Releases

Turkish GDP Growth Accelerates in Q1
The Turkish economy advanced a seasonally adjusted 1.7 percent quarter-on-quarter in the first three months of 2014, up from a revised 0.9 percent expansion in the previous quarter. The GDP grew at its fastest pace in a year, boosted by agricultural and mining production. Published on 2014-06-10

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. Published on 2014-03-31


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-10 08:00 AM Turkey
GDP Growth Rate QoQ
Q3 2013 0.9% 2.0% (R) 0.96%
2014-03-31 08:00 AM Turkey
GDP Growth Rate QoQ
Q4 2013 0.5% 0.8% (R) 0.19%
2014-06-10 08:00 AM Turkey
GDP Growth Rate QoQ
Q1 2014 1.7% 0.9% (R) 0.3%
2014-09-10 08:00 AM Turkey
GDP Growth Rate QoQ
Q2 2014 -0.5% 1.8% (R) 1.18%
2014-12-10 08:00 AM Turkey
GDP Growth Rate QoQ
Q3 2014 -0.5% 1%


Turkey GDP Last Previous Highest Lowest Unit
GDP 820.21 788.86 820.21 8.00 USD Billion [+]
GDP Growth Rate -0.50 1.80 6.69 -7.57 Percent [+]
GDP Annual Growth Rate 2.10 4.70 12.60 -14.70 Percent [+]
GDP Constant Prices 30803171.10 29332280.40 32998647.40 14436128.60 TRY THO [+]
Gross National Product 28950015.50 30561324.60 32442970.00 14600600.00 TRY THO [+]
GDP per capita 8716.68 8483.33 8716.68 2315.94 USD [+]
Gross Fixed Capital Formation 7536187.50 7006994.00 7923527.50 82266.40 TRY THO [+]
GDP per capita PPP 18646.78 18147.60 18646.78 10620.56 USD [+]