Turkey GDP (Gross domestic product) expanded 5 percent in the first quarter compared to the year-ago period, Statistics office from Turkey revealed.
On the basis of production, Turkey GDP advanced 14.3 percent and hit 641 billion 584 million TRY at current prices. The growth rate is better than the year-ago period’s 12.9 percent and the fourth quarter’s 13.7 percent.
The official release indicated that Turkey’s total value of GDP addition grew 3.2 percent in the agriculture sector while industry sector’s addition is 5.3 percent. Similarly, construction and services sectors added 3.7 percent and 5.2 percent respectively in the year-on-year term in the chained linked volume index.
On calendar adjusted basis, Turkey GDP grew 4.7 percent from the year-ago quarter. Seasonally, as well as, calendar adjusted GDP expanded 1.4 percent from the fourth quarter.
Final household consumption expenditure grew 5.1 percent driven by government final consumption expenditures growth of 9.4 percent whereas gross fixed capital information grew 2.2 percent on a year-on-year basis.
Similarly, goods and services exports expanded 10.6 percent while imports advanced 0.8 percent in the first three-month period of the current year.