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Turkey’s GDP grows 1.6% in third quarter

by ChemOrbis Editorial Team -
  • 10/12/2018 (10:48)
According to data from the Turkish Statistical Institute (TurkStat), Turkey’s gross domestic product (GDP) grew by 1.6% in the third quarter of 2018 when compared with the same quarter of the previous year.

Among the activities which constitute gross domestic product, the total value added increased by 1% in the agricultural sector, 0.3% in the industry sector and 4.5% in the services sector. The figure decreased by 5.3% in the construction sector when compared with the third quarter of 2017.

Calendar adjusted GDP also increased by 2.1% year-on-year while seasonally and calendar adjusted GDP decreased by 1.1% compared with the previous quarter.

In November, household final consumption expenditure and government final consumption expenditure increased by 1.1% and 7.5%, respectively; while gross fixed capital formation decreased by 3.8% in the third quarter of 2018 compared with the same quarter of the previous year.

The data also showed that exports of goods and services increased by 13.6%, while imports decreased by 16.7% on a yearly basis during the third quarter.
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