Turkey GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Turkey expanded 4.40 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Turkey is reported by the Turkish Statistical Institute. GDP Annual Growth Rate in Turkey averaged 3.95 Percent from 1999 until 2013, reaching an all time high of 12.60 Percent in the first quarter of 2010 and a record low of -14.70 Percent in the first quarter of 2009. In Turkey, the annual growth rate in GDP measures the change in the value of the goods and services produced by the country economy during the period of a year. This page provides - Turkey GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
4.40 4.30 12.60 -14.70 3.23 | 2013/12 1999 - 2013 Percent Quarterly

TO

Turkey GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-11 08:00 AM Turkey
GDP Growth Rate YoY
Q1 2013 3% 1.4% 2.3% 2.39%
2013-09-10 07:00 AM Turkey
GDP Growth Rate YoY
Q2 2013 4.4% 2.9% (R) 3.7% 2.22%
2013-12-10 08:00 AM Turkey
GDP Growth Rate YoY
Q3 2013 4.4% 4.5% (R) 4.1% 5.62%
2014-03-31 08:00 AM Turkey
GDP Growth Rate YoY
Q4 2013 4.4% 4.3% (R) 3.23%
2014-06-10 08:00 AM Turkey
GDP Growth Rate YoY
Q1 2014 4.4% 4%
2014-09-10 08:00 AM Turkey
GDP Growth Rate YoY
Q2 2014 3.5%
[+]

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 30686050.28 2014-03-31 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 8804.12 2013-12-31 USD [+]
GDP per capita PPP 13737.22 2012-12-31 13608.95 13737.22 5986.22 14246.37 2013-12-31 USD [+]
GDP 789.30 2012-12-31 774.80 789.30 8.00 819.88 2013-12-31 USD Billion [+]
[+]


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.

Government consumption recorded the highest growth rate (6.8 percent), followed by gross fixed capital formation (6.4 percent) and household consumption (5.3 percent). Exports contracted for the second straight quarter by 1.5 percent. 

On the production side, financial and insurance activities rose the most on the year (12.8 percent), followed by professional, scientific and technical activities (6.9 percent), construction and wholesale and retail trade (6.2 percent each). Manufacturing expanded 4.9 percent. 

On a quarter-on-quarter seasonally adjusted basis, the economy advanced 0.5 percent, lower than a 0.8 percent expansion in the previous quarter. 

Considering full 2013, the economy grew 4 percent, better than a revised 2.1 percent expansion in 2013. 

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
3/31/2014 11:20:04 AM

RECENT RELEASES

Turkish Economy Expands 4.4% YoY in Q3
In the third quarter of 2013, Turkey's gross domestic product was up by 4.4 percent year-on-year. This is down from an upwardly revised 4.5 percent growth rate registered in Q2. The expansion exceeded expectations and was driven by growing investment. Published on 2013-12-10

Turkish Economy Expands 4.4% YoY in Q2
In the second quarter of 2013, Turkey's adjusted gross domestic product was up by 4.4 percent year-on-year. This is up from 2.9 percent registered in the previous quarter as all economic sectors expanded above expectations. Published on 2013-09-10


GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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.
MORE RELATED NEWS

LATEST NEWS

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.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.
MORE TOP NEWS

OVERVIEW    |     WORLBANK    |     [+] Calendar    |     [+] Countries    |     [+] Indicators    |     News