Turkish Economy - GDP & Output & Growth

OUTPUT & GROWTH

1- OUTPUT

In 2009, GDP was $ 617,611 million, which suggests that the Turkish economy became the sixteenth biggest economy among 30 OECD countries.

GDP in 2009 has increased by 0.4% to Turkish Lira 953,974 million at current prices and decreased by -4.7% to Turkish Lira 97,088 million at constant prices.

GDP per capita in 2009 is Turkish Lira 13,269 and US Dollar 8,590 at current prices.

GDP Per Capita for Turkey 2009 (USD)

The Turkish Statistical Institute (TurkStat) announced the new series of GDP on 8 March 2008. The old accounts, based on the 1968 UN system of accounts, did not adequately attempt to assess the sizeable informal sector. The new system is in line with European System of Accounts (ESA-95) methods and includes more comprehensive coverage of the housing and manufacturing sectors.

New Gross Domestic Product series with 1998 base year by production approach has increased by 31.6% in current prices compared to Gross Domestic Product series with 1987 base year for the year 2006.

For futher information on revised GDP estimates covering 1998-2007 click here.

Gross Domestic Product Results for Turkey 2009

2- GROWTH

Real economic growth rates (based on GDP- production approach) in Q1, Q2, Q3 and Q4 in 2008 were 7.2%, 2.8%, 1.0% and -6.5% respectively. For the year 2008 as a whole GDP rose by 0.9% at constant prices.

As a result, the cumulative rate of real GDP growth exceeded 40% in the past seven years (25 consecutive quarters), marking it as the longest stretch of uninterrupted growth episode in Turkey's history.

Growth for Turkey 2009 (Based on Real GDP)

Gross Domestic Product Results for Turkey 2009

Growth Rate of Expenditure on the Gross Domestic Product for Turkey 2009 (at 1998 prices)