Turkey’s Economy Grew 11.1 percent in the Third Quarter!

Business man hand drawing a graph

Turkey gained strong GDP growth in the third quarter, supported by base effects and incentives, particularly the CGF. With this performance, Turkey was the fastest growing economy in the third quarter, leaving behind all world countries.

Prime Minister Yıldırım explained Turkey’s year-end growth forecast.

The Turkish Statistical Institute (TUIK) has announced Gross Domestic Product (GDP) data for the third quarter of the year (July-September).
Accordingly, the GDP estimate increased by 11.1 percent in the third quarter of this year compared to the same quarter last year, as a chain volume index.

Gross domestic product forecast by the production method in the same period increased by 24.2 percent in current prices, was determined as 827 billion 230 million Turkish liras.

The total value added of the agricultural sector increased by 2.8 percent in the chain volume index, by 14.8 percent in the industrial sector and by 18.7 percent in the construction sector, according to the same quarter of the previous year in July-September this year. Value of the services sector, which is the sum of trade, transportation, accommodation and food service activities, increased by 20.7 percent.