The GDP in Turkey expanded 1.70 percent quarter-on-quarter in the fourth quarter of 2020, lower than a record 15.9 percent surge in the previous period. Considering full 2020, the economy expanded 1.8 percent, above 0.9 percent in 2019, as a near doubling of lending by state banks in the second half of the year was able to partially offset the effects of the coronavirus curfews, restrictions and curbs on business. source: Turkish Statistical Institute

GDP Growth Rate in Turkey averaged 1.13 percent from 1998 until 2020, reaching an all time high of 15.90 percent in the third quarter of 2020 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 May of 2021.

GDP Growth Rate in Turkey is expected to be 1.10 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 1.50 in 12 months time. In the long-term, the Turkey GDP Growth Rate is projected to trend around 0.70 percent in 2022 and 0.90 percent in 2023, according to our econometric models.

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Turkey GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.70 15.90 15.90 -11.00 1998 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2020-05-29 07:00 AM Q1 0.6% 1.9% -1.2%
2020-08-31 07:00 AM Q2 -11% -0.1% -8.2%
2020-11-30 07:00 AM Q3 15.6% -10.8% 12.5%
2021-03-01 07:00 AM Q4 1.7% 15.9% 2.2%
2021-05-31 07:00 AM Q1 1.7% 1.1%
2021-09-01 07:00 AM Q2 2.9%
2021-11-30 07:00 AM Q3 2%

Turkey GDP Growth Rate
Turkey is classified as an emerging market economy. The country is one of the world's biggest producers of agricultural products; textiles; motor vehicles, ships and other transportation equipment; construction materials; consumer electronics and home appliances.