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Turkey’s economy grew by 7.6 percent in the second quarter

Turkey’s economy grew by 7.6 percent in the second quarter

TURKSTAT announced the growth figure for the second quarter of the year of 2022 which includes June, April, May.

The Turkish Statistical Institute (Turkstat) has published the gross domestic product (GDP) data for the second quarter of the year.

The first estimate of GDP for the second quarter of 2022; as a chained volume index, it increased by 7.6 percent compared to the same quarter of the previous year.

While the industry grew by 7.8 percent in the second quarter, the construction sector contracted by 10.9 percent.

The Turkish economy grew by 7.3 percent in the first quarter of this year

The Turkish economy grew by 21.7 percent in the second quarter of 2021 and by 11 percent in the whole of 2021. The Turkish economy grew by 7.3 percent in the first quarter of 2022.

Finance and insurance activities increased by 26.6 percent in the second quarter of 2022

The activities that comprise GDP examined; in the second quarter of the year compared to the previous year 2022 as chained volume indices; financial and insurance activities 26.6% 18.1 per service activities, professional, administrative and support service activities 11 percent, the industry’s 7.8 per cent, 5.3 per cent of information and communication activities, real estate activities 4.1 percent, 1.9 percent and other service activities public administration, education, human health and social work activities increased 1.7 percent. Agriculture, forestry and fisheries decreased by 2.9 percent and the construction sector decreased by 10.9 percent.

Adjusted for seasonal and calendar effects, the GDP chained volume index increased by 2.1 percent compared to the previous quarter. Adjusted for the calendar effect, the GDP chained volume index increased by 7.3 percent in the second quarter of 2022 compared to the same quarter of the previous year.

Exports of goods and services increased by 16.4 percent in the second quarter of 2022, while imports increased by 5.8 percent

Exports of goods and services increased by 16.4 percent in the second quarter of 2022 as a chained volume index compared to the same quarter of the previous year, while imports increased by 5.8 percent.

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