The Turkish Statistical Institute (TÜİK) announced the growth data for the fourth quarter of 2022. It was reported that the Turkish economy grew by 5.6 percent in 2022, and by 3.5 percent in the last quarter of last year.
TÜİK shared the Gross Domestic Product (GDP) data for the fourth quarter of October-December 2022 period and for the entire year of 2022.
The GDP increased by 5.6 percent in 2022, and by 3.5 percent in the fourth quarter.
Thus, the Turkish economy has been growing for 10 consecutive quarters.
Growth exceeded expectations Economists were expecting Turkey’s economy to grow by 2.8 percent in the fourth quarter of 2022, and by 5.2 percent throughout the year.
Growth figures for other quarters of 2022 have been revised The Turkish economy grew by 7.5 percent in the first quarter of 2022, 7.7 percent in the second quarter, and 3.9 percent in the third quarter.
The growth data for the third quarter of the year was revised from 3.9 percent to 4 percent by TÜİK, while the second quarter growth was revised from 7.7 percent to 7.8 percent and the first quarter growth from 7.5 percent to 7.6 percent.
The Gross Domestic Product at current prices according to the production method increased by 107 percent in 2022 compared to the previous year, reaching 15 trillion 6 billion 574 million Turkish Lira.
Per capita Gross Domestic Product was 176,589 Turkish Lira in 2022 Per capita GDP in 2022 was calculated at 176,589 Turkish Lira at current prices, and 10,655 US dollars.
GDP increased by 3.5 percent in the fourth quarter of 2022 The initial estimate of the GDP for the fourth quarter; according to the chained volume index, increased by 3.5 percent compared to the same quarter of the previous year in the fourth quarter of 2022.
The seasonally and calendar-adjusted GDP chained volume index increased by 0.9 percent compared to the previous quarter.
The seasonally and calendar-adjusted GDP chained volume index increased by 0.9 percent compared to the previous quarter. The calendar-adjusted GDP chained volume index increased by 3.5 percent in the fourth quarter of 2022 compared to the same quarter of the previous year.
The estimated Gross Domestic Product by the production method at current prices was 4 trillion 800 billion 717 million Turkish Lira in the fourth quarter of 2022. The estimated Gross Domestic Product by the production method, at current prices, increased by 106.2 percent compared to the same quarter of the previous year, reaching 4 trillion 800 billion 717 million Turkish Lira in the fourth quarter of 2022. The fourth quarter value of GDP in current prices was 262 billion 669 million US dollars.
