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Turkey’s economy shrinks in Q3: TurkStat

by ChemOrbis Editorial Team -
  • 12/12/2016 (14:47)
According to data from the Turkish Statistical Institute (TurkStat), Turkey’s gross domestic product (GDP) decreased by 1.8% in the third quarter of 2016 when compared to the same quarter of 2015. Among the activities that constitute gross domestic product (GDP), only the construction sector grew by 1.4% while agricultural sector (7.7%), industry sector (1.4%) and the service sector (8.4%) posted decreases year on year.

The data showed that household final consumption expenditure was down by 3.2% in Q3 on the year while government final consumption expenditure rose 23.8% in the third quarter on a yearly basis.

According to data, export of goods and services declined by 7% while imports of goods and services were up by 4.3% on the year in Q3.
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