Capturing 8.9 percentage growth in 2010, as of the third quarter in 2009 Turkey had embarked upon an upward trend.
According to figures from the Turkish Statistics Institute (TÜİK), 9.2 percent economic growth was realized in the fourth quarter of 2010. In terms of growth figures out of the 20 developed countries, only Brazil and China managed to surpass Turkey. Considered the 'engine power' of global economic growth, China realized 9.8 percent growth in the fourth quarter of last year in comparison to figures from the year prior. The year before, China's economy grew by 9.2 percent, whereas last year that figure increased to 10.3 percent. G-20 members Turkey and Argentina recorded 9.2 percentile economic growth in the final quarter of 2010 in comparison to the year prior. Therefore both Turkey and Argentina managed to become the fastest growing nation economies with 9.2 percentile amongst G-20 nations, following China for the aforementioned time period.
TURKEY LEADS IN EUROPE
Turkey has also become the fastest growing nation in Europe. Amongst countries in the European Union, Sweden had the fastest growing economy in last year's final quarter compared to the year prior with 7.2 percent growth. Sweden was followed by Estonia with 6.6 percent growth and Finland with 5.0 percent. During the designated timeframe, Germany, Europe's largest economy, showed four percent growth and both France's and England's economy grew by 1.5 percent.
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