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FinancialNews


  • 31-08-22

    Turkish economy surges 7.6 percent year-on-year in Q2

    (MENAFN) Turkey’s economy surged 7.6 percent on an annual basis in the April-June period of this year, as shown by the nation’s statistical authority on Wednesday.

    The Turkish Statistical Institute (TurkStat) mentioned that the nation's gross domestic product (GDP) at present prices jumped 114.6 percent to 3.4 trillion Turkish liras (USD219.3 billion) in the second quarter period.

    Throughout this period, while the yearly sectoral expansion stood at 7.8 percent in industry and 18.1 percent in services, building declined by 10.9 percent as well as agriculture by 2.9 percent.

    The economy therefore recorded one of the peak expansion levels in the G20.

    With this expansion, Turkey became the second-quickest expanding economy in the G20 after Saudi Arabia.

    Final consumption spending of resident households surged by 22.5 percent, whereas the administration's final consumption surged by 2.3 percent in the April-June in comparison with the same quarter in 2021.

    The nation's economy surged by 7.3 percent on an annual basis in the January-March period.

    MENAFN31082022000045014228ID1104785395

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