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Turkey’s economy expands in Q4: TurkStat

by ChemOrbis Editorial Team -
  • 31/03/2017 (14:07)
According to data from the Turkish Statistical Institute (TurkStat), Turkey’s gross domestic product (GDP) increased by 3.5% in the fourth quarter of 2016 when compared to the same quarter of 2015. Among the activities that constitute gross domestic product (GDP), the construction sector grew by 3.7%, agricultural sector by 1.3%, industry sector by 5% and the service sector by 1.8% year on year.

The country’s GDP for 2016 as a whole was also up by 2.9% annually.

The data showed that household final consumption expenditure was up by 5.7% in Q4 and by 2.3% in 2016 on the year while government final consumption expenditure rose 0.8% in the fourth quarter and by 7.3% in 2016 as a whole on a yearly basis.

According to data, export of goods and services were up by 2.3% while imports of goods and services were up by 3.3% on the year in Q4. In 2016, however, export of goods and services were down by 2% while imports of goods and services were up by 3.9% on the year.
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