Turkey's economy shrank 11 percent quarter-on-quarter in the three months to June 2020, following a downwardly revised 0.1 percent drop in the previous period. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. source: Turkish Statistical Institute
GDP Growth Rate in Turkey averaged 0.95 percent from 1998 until 2020, reaching an all time high of 5.80 percent in the fourth quarter of 2016 and a record low of -11 percent in the second quarter of 2020. This page provides the latest reported value for - Turkey GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
GDP Growth Rate in Turkey is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Turkey to stand at 1.40 in 12 months time. In the long-term, the Turkey GDP Growth Rate is projected to trend around 1.10 percent in 2021 and 0.70 percent in 2022, according to our econometric models.