The Turkish economy grew 1.6 percent year-on-year in the third quarter of 2018, Turkish Statistical Institute (TurkStat) announced in a report Monday.
The gross domestic product (GDP) increased by 21.8 percent and reached 1.013 trillion ($190 billion) Turkish liras at current prices, TurkStat said.
According to the report, calendar-adjusted GDP in the third quarter increased by 2.1 percent compared to the same quarter of the previous year, while seasonally and calendar-adjusted GDP shrank 1.1 percent compared to the previous quarter.
The fastest growing sector was services at 4.5 percent. The agriculture sector saw a 1.0 percent increase, while the industries sector expanded 0.3 percent.
Exports of goods and services were up 13.6 percent, while imports fell 16.7 percent year-on-year in the third quarter.
Compensation of employees increased by 20 percent, while net operating surplus/mixed income grew 22.2 percent quarter-on-quarter.
The Turkish government aims to reach an economic growth rate of 3.5 percent in 2020 and 5 percent by 2021 under its new economic program announced in September.
Turkey registered the slowest growth rate since third quarter of 2016 in the July-September 2018 period.
The Turkish economy grew 7.3 percent in the first quarter of this year and 5.3 percent in the second quarter.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.
