Turkey GDP Annual Growth Rate  1999-2016 | Data | Chart | Calendar

The Turkish economy advanced 3.1 percent year-on-year in the second quarter of 2016, slowing from a downwardly revised 4.7 percent expansion in the previous period and below market expectations of a 3.4 percent gain. It is the lowest growth rate in five quarters as household spending and exports slowed and investment shrank. GDP Annual Growth Rate in Turkey averaged 3.93 percent from 1999 until 2016, 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.

Turkey GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-31 07:00 AM Q4 5.7% 3.9% 5.2% 3.5%
2016-06-10 07:00 AM Q1 4.8% 5.7% 4.5% 5.5%
2016-09-09 07:00 AM Q2 3.1% 4.7% 3.4% 4.4%
2016-12-12 07:00 AM Q3 3.1% -0.5% -0.6%
2017-03-31 07:00 AM Q4 2.5%
2017-06-09 07:00 AM Q1 2.8%




Turkey Annual GDP Growth Slows to 3.1% in Q2


The Turkish economy advanced 3.1 percent year-on-year in the second quarter of 2016, slowing from a downwardly revised 4.7 percent expansion in the previous period and below market expectations of a 3.4 percent gain. It is the lowest growth rate in five quarters as household spending and exports slowed and investment shrank.

Household consumption rose at a slower 5.2 percent (7.1 percent in Q1) while government spending jumped 15.9 percent (10.9 percent in Q1). In contrast, investment shrank 0.6 percent, after being flat in Q1. Main disinvestment was in machinery and equipment, both from the public (-5.8 percent) and private (-5.3 percent) sectors. Exports edged up 0.2 percent (2.4 percent in Q1) and imports rose at a faster 7.7 percent (7.3 percent in Q1). 

On the production side, both services (3.6 percent compared to 5 percent in Q) and industry (3.9 percent compared to 5.7 percent in Q1) slowed while agricultural output shrank 1 percent (+2.4 percent in Q1).

On a quarterly basis, the economy advanced 0.3 percent, following a downwardly revised 0.7 percent rise in Q1.

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
9/9/2016 8:52:20 AM



Turkey GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.70 6.69 -7.57 percent [+]
GDP Annual Growth Rate 3.10 4.70 12.60 -14.70 percent [+]
GDP 718.22 798.80 823.24 8.02 USD Billion [+]
GDP Constant Prices 33061048.10 31648663.90 34900750.50 14436128.60 TRY THO [+]
Gross National Product 31671243.40 30367559.60 35262640.50 14600600.00 TRY THO [+]
Gross Fixed Capital Formation 8271132.40 7049807.00 8317214.80 82266.40 TRY THO [+]
GDP per capita 11524.51 11246.14 11524.51 2996.58 USD [+]
GDP per capita PPP 18958.62 18500.69 18958.62 10567.96 USD [+]
GDP From Agriculture 2337513.00 1432673.00 5277228.00 799601.00 TRY THO [+]
GDP From Construction 2040371.70 1826411.90 2040371.70 822819.00 TRY THO [+]
GDP From Manufacturing 8535937.00 8165668.90 8535937.00 3491758.90 TRY THO [+]
GDP From Mining 213551.90 164785.90 255476.10 116491.40 TRY THO [+]
GDP From Public Administration 918756.75 943492.18 1002028.84 561744.20 TRY THO [+]
GDP From Transport 4095462.00 3875510.00 4175844.00 1498463.00 TRY THO [+]
GDP From Utilities 587421.00 479733.00 716688.00 204058.00 TRY THO [+]



Turkey GDP Annual Growth Rate Notes

On the expenditure side, household consumption is the main component of 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 4.70 12.60 -14.70 1999 - 2016 percent Quarterly



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