Turkey GDP Growth Beats Expectations In Q4


The Turkish economy advanced 3.5 percent year-on-year in the last three months of 2016, recovering from a downwardly revised 1.3 percent contraction in the previous period and beating market expectations of a 2.3 percent rise. The expansion was driven by higher investment and a rebound in household spending and exports. On a quarterly basis, the economy advanced 3.8 percent.

Household spending increased 5.7 percent, recovering from a 1.7 percent fall in the previous period and gross fixed capital formation jumped 2 percent, compared to a 0.5 percent rise in the previous quarter. Exports went up 2.3 percent, rebounding from a 9.3 percent contraction in the third quarter and imports rose faster by 3.3 percent (2.1 percent in Q3). In contrast, public expenditure slowed (0.8 percent from 5.6 percent in Q3).

Considering full 2016, the GDP grew 2.9 percent, above expectations of 2.2 percent but well below 6.1 percent in 2015. Household spending (2.3 percent from 5.5 percent) and gross fixed capital formation (3 percent from 9.2 percent) slowed sharply and exports shrank 2 percent, following a 4.2 percent rise in 2015. In contrast, imports rose faster (3.9 percent compared to 1.7 percenbt) and public expenditure advanced more (7.3 percent compared to 4.1 percent). 

Turkey GDP Growth Beats Expectations In Q4


Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
3/31/2017 9:29:36 AM