The Turkish economy expanded 6.7 percent year-on-year in the third quarter of 2020, following a 9.9 percent fall in the previous period and well above forecasts of 4.8 percent, as the economy rebounds from the pandemic hit and coronavirus lockdown. Biggest increases were seen in financial and insurance activities (41.1 percent); information and communication (15 percent); industry (8 percent); construction (6.4 percent); agriculture (6.2 percent); real estate activities (2.8 percent); public administration, education, human health and social work activities (0.8 percent); and services (0.8 percent). In contrast, professional, administrative and support service activities contracted 4.5 percent. On a quarterly basis, the economy grew 15.6 percent. source: Turkish Statistical Institute
GDP Annual Growth Rate in Turkey averaged 4.42 percent from 1999 until 2020, reaching an all time high of 11.70 percent in the first quarter of 2011 and a record low of -14.40 percent in the first quarter of 2009. This page provides the latest reported value for - Turkey GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Annual Growth Rate in Turkey is expected to be -4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Turkey to stand at 6.10 in 12 months time. In the long-term, the Turkey GDP Annual Growth Rate is projected to trend around 5.10 percent in 2021 and 4.60 percent in 2022, according to our econometric models.