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Turkey’s economic growth tops estimates in 2014

by ChemOrbis Editorial Team - content@chemorbis.com
  • 31/03/2015 (10:55)
According to data released from the Turkish Statistics Institute (TUIK), Turkey’s economy grew at a faster pace than expected in 2014. The country’s gross domestic product (GDP) increased 2.9%, exceeding economists’ initial estimates, which called for an increase of 2.7%.

On a quarterly basis, the Turkish economy grew 0.7% after posting an upwardly revised growth rate of 2.3% in the previous quarter. The country’s economy expanded 2.6% in the last quarter of 2014 when compared to the same period of the preceding year.

Data also showed that Turkey’s exports of goods and services climbed 6.8% to reach TRY34.11 billion ($13.06 billion) while imports declined by 0.2% to TRY35.58 billion ($13.65 billion) in 2014.
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