However, this figure was below market expectations as a group of 18 economists surveyed by news agencies last week predicted an average year-over-year (YoY) growth of 8.1% in the third quarter.
Compared to the second quarter of this year, GDP in the third quarter increased by 2.7%. Turkey’s economy grew 21.7% in the second quarter, the highest annual growth rate since 1999.
According to the Turkish Institute of Statistical Statistics (TurkStat), Turkey’s GDP in the third quarter of this year (Q3) increased by 7.4% compared to the same period last year. And the current price in September was TRY 1.9 trillion ($ 225.5 billion).
Economists also estimated that Turkey’s annual GDP in 2021 would grow by an average of 10 percent, the news agency reported.
The government predicts that Turkey’s economy will grow at 9% this year under the medium-term economic program from 2022 to 2012.
Fiber2Fashion News Desk (DS)
Turkey’s GDP increased 7.4% year-on-year in the third quarter: TurkStat
Source link Turkey’s GDP increased 7.4% year-on-year in the third quarter: TurkStat