Turkish Economy Expands 5% in Q1


The Turkish GDP advanced 5 percent year-on-year in the first quarter of 2017, following 3.5 percent growth in the previous period and beating market expectations of a 4 percent rise. The expansion was driven by higher government spending, investment and exports. On a quarterly basis, the economy grew 1.4 percent.

Public expenditure surged 9.4 percent, compared to 0.8 percent rise in the previous period and investment advanced 2.2 percent, accelerating from 2 percent increase. Meanwhile, household spending rose at a slower 5.1 percent  (5.7 percent in Q4 of 2016). Exports jumped 10.6 percent, following 2.3 percent increase and imports rose at a slower 0.8 percent, compared 3.3 percent growth. 

On the production side, growth was led by services (5.2 percent compared to 1.8 percent in Q4 of 2016), industry (5.3 percent compared to 5 percent) and agriculture (3.2 percent compared to 1.3 percent) while construction rose at the same pace (3.7 percent).

 Turkish Economy Expands 5% in Q1


Turkstat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
6/12/2017 7:34:56 AM