Food sector tops consumer spending in first half


While Turkey's domestic consumption reached TL 740 billion ($230 billion) in the first six months of the year, food, beverages and tobacco exchange topped the country's consumer spending with TL 190.8 billion.According to the Turkish Statistical Institute (TurkStat), Turkey's January-June period Gross Domestic Product (GDP) reached TL 1.2 trillion at current prices, 72.3 percent of which was caused by domestic consumption with TL 739.9 billion.While GDP stood at TL 926.2 billion in the same period of the previous year, domestic consumption reached TL 672.4 billion. Thus, national income and domestic consumption increased by 10.5 and 10 percent, respectively, in the first half of 2016.During the January-June period, domestic consumption of residential households reached TL 710.4 billion while their overseas consumption went up to TL 6.8 billion. Foreigners' consumption in Turkey, on the other hand, was recorded as TL 29.5 billion. Accordingly, TL 4 billion was spent in Turkey on a daily basis in the first six months of the year.Given the distribution of the domestic consumption in the first half, food, beverages and tobacco exchange led the way with TL 190.8 billion increasing by 5.4 percent compared to the previous year. The share of spending on domestic consumption for the purpose of eating and drinking stood at 25.8 percent.Food, beverages and tobacco exchange was followed by transportation and communication with TL 153.1 billion; and housing, water, power, gas and other fuels with TL 140 billion.Local and foreign consumers spent TL 61 billion on furniture, household appliances and home care services; TL 41.1 billion on restaurants and hotels, TL 35 billion on clothing and footwear; TL 28 on health services; TL 26.7 on entertainment; and TL 12.9 on education during this period.