News
12.12.2017
592

Turkish GDP grows double digits, fastest-growing in G20

Turkey became the fastest-growing economy among G20 countries after clocking in with 11.1 percent growth in the third quarter of 2017, the Turkish Statistical Institute (TurkStat) reported on Monday.

Monday’s report makes the country's growth the fastest among the world’s 20 largest economies and marks the third consecutive quarter where annual expansion topped 5 percent. China came in second with 6.8 percent and India was third with 6.3 percent among all G20 countries.

The figure easily exceeded analysts’ consensus estimates of 9.2 percent, the fastest quarter growth rate since 11.4 percent in the first quarter of 2011.
Turkey’s economy grew 5.2 percent in the first quarter of this year and 5.1 percent in the second quarter, according to TurkStat.

Turkish officials previously said the country would achieve annual economic growth of 6 to 7 percent by the end of the year.

Performance in the third quarter pushed up cumulative GDP, reaching 827.2 billion Turkish liras ($216 billion) in current prices, with GDP annualized at $844 billion, TurkStat added.

The growth was triggered by domestic demand, including accelerated investment support by the government and strong contributions from exports.


source: AA


12.12.2017

Important news

All news
Life in Turkey

The Turkish Statistical Institute (TÜİK) has sent an official request to the Directorate General of Migration Management to obtain up-to-date information about the closed areas in Alanya.

Read more 22.04.2025
World News

On April 22, 2025, the price of gold on the global market reached a new historical high of $3500 per ounce. This marked a clear signal amid growing anxiety in the global economy and increased demand for safe-haven assets.

Read more 22.04.2025
Life in Turkey

These changes are aimed at enhancing service quality and meeting the growing number of tourists and international flights, especially during the summer season.

Read more 14.04.2025
World News

Forbes magazine has released its new list of billionaires, with the number of billionaires surpassing 3000 for the first time. The leaders of the list are well-known business tycoons and tech giants, including Elon Musk, Mark Zuckerberg, and Jeff Bezos.

Read more 10.04.2025
>