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Turkey GDP Annual Growth Rate

Last Release
Jun 2021
Actual
21.7 %
Forecast
N/A
Previous
7.2 %
Frequency
Quarterly
Units In
%
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
21.7 %
Jun 2021
-14.4 %
Mar 2009
4.65 %1999 - 2021Turkish Statistical Institute
On the expenditure side, household consumption is the main component of Turkish GDP and accounts for 70 percent, followed by gross fixed capital formation (22 percent) and government expenditure (15 percent). Exports of goods and services account for 27 percent of GDP while imports account for 32 percent, subtracting 5 percent from total GDP.

Latest Updates

The Turkish economy expanded by a record 21.7 percent year-on-year in the second quarter of 2021, following an upwardly revised 7.2 percent growth in the previous three-month period, as activity and demand rebounded sharply from a steep fall caused by COVID-19 restrictions last year. The country has also imposed curfews, weekend lockdowns, and restaurant closures earlier this year but these measures were fully lifted in June and seem not to have affected manufacturing and the broader economy. Household consumption and fixed investment were the main drivers of growth, rising by 22.9 percent and 20.3 percent respectively. In addition, public spending advanced 4.2 percent and net trade contributed positively to the GDP as exports rose more than imports. On a seasonally adjusted quarterly basis, the economy grew by 0.9 percent in the second quarter.

Turkey GDP Annual Growth Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Sep 1, 202107:16Turkish Economy Expands at Record Pace
Dec 2, 201911:32Turkish Economy Expands for First Time in a Year
Sep 2, 201915:52Turkish GDP Contracts Less than Expected in Q2
May 31, 201907:58Turkish Economy Shrinks for 2nd Quarter by 2.6% YoY in Q1
DATETIMEEVENTActual
Aug 31, 202007:00GDP Growth Rate YoY-9.9 %
May 29, 202007:00GDP Growth Rate YoY4.5 %
Feb 28, 202007:00GDP Growth Rate YoY6 %
Sep 2, 201907:00GDP Growth Rate YoY-1.5 %
May 31, 201907:00GDP Growth Rate YoY-2.6 %

Turkey gdp Indicators

All Turkey indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
GDP
720.1
Dec 2020
761.43
Dec 2019
7.99
Dec 1961
950.58
Dec 2013
USD BillionYearly1960 - 2020
GDP Annual Growth Rate
21.7
Jun 2021
7.2
Mar 2021
-14.4
Mar 2009
21.7
Jun 2021
%Quarterly1999 - 2021
GDP Constant Prices
468,630,943.6
Jun 2021
435,226,824.8
Mar 2021
148,486,309.2
Mar 1999
512,715,333.1
Dec 2020
TRY THOQuarterly1998 - 2021
GDP From Agriculture
19,261,448
Jun 2021
12,169,155
Mar 2021
6,480,266
Mar 2002
61,418,883
Sep 2020
TRY THOQuarterly1998 - 2021
GDP From Construction
28,974,417.1
Jun 2021
24,430,841.5
Mar 2021
5,582,784.3
Mar 2002
36,195,914.4
Sep 2017
TRY THOQuarterly1998 - 2021
GDP From Manufacturing
82,263,328.3
Jun 2021
79,980,716.6
Mar 2021
23,491,042
Dec 2001
84,786,842.2
Dec 2020
TRY THOQuarterly1998 - 2021

GDP Annual Growth Rate across Europe

GDP Annual Growth Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Albania
17.9
Jun 2021
5.53
Mar 2021
-10.84
Dec 1997
17.9
Jun 2021
%Quarterly1996 - 2021
Armenia
-8.8
Dec 2021
13.1
Jun 2021
-19.7
Sep 2009
19.1
Jun 2006
%Quarterly1998 - 2021
Austria
12
Jun 2021
-4.8
Mar 2021
-14.1
Jun 2020
12
Jun 2021
%Quarterly1997 - 2021
Belarus
5.81
Jun 2021
1.15
Mar 2021
-4.4
Dec 2015
11.05
Jun 2011
%Quarterly2011 - 2021
Belgium
14.9
Jun 2021
-0.5
Mar 2021
-13.9
Jun 2020
19.4
Mar 1995
%Quarterly1981 - 2021
Bosnia and Herzegovina
11.6
Jun 2021
1.5
Mar 2021
-9.3
Jun 2020
11.6
Jun 2021
%Quarterly2004 - 2021

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