Turkish Economy Expands 5.7% in Q4

The Turkish economy advanced 5.7 percent on the year in the three months to December of 2015, following a downwardly revised 3.9 percent expansion in the previous period and beating market expectations of 5.2 percent. It was the highest growth rate since the third quarter of 2011, boosted by private consumption, government expenditure and fixed investment. Considering full 2015, the GDP advanced 4 percent, accelerating from a 3 percent growth in 2014.
Turkstat | Joana Ferreira | joana.ferreira@tradingeconomics.com 3/31/2016 8:30:53 AM
Household consumption grew at a faster 4.7 percent (+3.6 percent in Q3), government spending grew further by 8.1 percent (+8 percent in Q3) and gross fixed capital formation expanded by 3.5 percent, after showing no growth in the previous quarter.

Exports rose by 2.1 percent (-1.4 percent in Q3), the first increase in four quarters, while imports contracted at a faster 2.6 percent (-1.2 percent in Q3). 

On the production side, agriculture activities grew 2.8 percent, industry advanced 7.2 percent and services sector expanded 6.1 percent.

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.7 percent.

Considering full 2015, the economy expanded by 4 percent, accelerating from a 3 percent growth in 2014. Household final consumption increased by 4.5 percent (from +1.4 percent in 2014) and government final expenditure increased by 6.7 percent (from +4.7 percent). Also, gross fixed capital formation increased by 3.6 percent (from -1.3 percent).

Meanwhile, exports of goods and services shrank by 0.8 percent (from +7.4 percent in the previous year), while imports increased slightly by 0.3 percent (from -0.3 percent).

Turkish Economy Expands 5.7% in Q4