Home / Knowledge / News / Textiles / Turkey's GDP grows 5.7% in 2015 Q4
Turkey's GDP grows 5.7% in 2015 Q4
05
Apr '16
Turkey's Gross Domestic Product surpassed expectations to grow 5.7 per cent in the fourth quarter of 2015 compared with the same period in 2014, Turkish Statistical Institute (TurkStat) has said.

The figure exceeded analyst consensus estimates of 3.8 per cent.

GDP in the fourth quarter of 2015 rose to 34.8 billion Turkish liras ($12.25 billion), which was up 5.7 per cent year-on-year, TurkStat said.

The Q4 performance pushed the overall annual GDP growth to 4 per cent, with cumulative GDP reaching 131.3 billion Turkish liras in constant prices ($46.2 billion), it added.

"With 4 per cent growth rate, Turkey is among top four fastest growing members in the G20 group, comprising the world's 20 major economies," Mehmet Simsek, Turkish Deputy Prime Minister in charge of the economy, said.

Analysts hailed the Q4 growth figure as a big plus for Turkey. 

"Turkish economy showed an improved performance in the fourth quarter; GDP growth rate surpassed the market expectation of 5 per cent and our expectation of 4.1 per cent," ALB Securities analyst Enver Erkan said.

He pointed out that the strongest contribution was from government expenditures, which grew by 6.7 per cent.

"Also, personal consumption showed 4.5 per cent growth rate. We expect a weaker performance, according to leading indicators of the first three months of 2016. But, we can expect a stronger performance again, with the help of stronger global recovery," he said.

"We closed 2015 with 4 per cent growth. This is a very good growth rate. Also, a recovery observed in investments is another positive development," Finansinvest chief economist Burak Kanli said.

"We believe domestic consumption shouldered growth in a year in which geopolitical tension surged and two elections were held,” economist Bora Tamer Yilmaz at Ziraat Securities told Anadolu Agency.

Halk Investment's economist Banu Kivci Tokali said positive signals from industrial production also reflected in the growth data.

"The fourth quarter of last year became the period in which economic activity came to the fore. Private and public sector consumption as well as public investments were base elements in growth,” Tokali said. (SH)

 

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 22nd Aug 2017

Cotton yarn futures trading begins in China’s Zhengzhou

Cotton yarn futures trading recently began on the Zhengzhou Commodity ...

Textiles | On 22nd Aug 2017

PTEA concerned over sluggish textile sector growth

The Pakistan Textile Exporters Association (PTEA) has expressed...

Textiles | On 22nd Aug 2017

Asian Propylene prices march higher last week

Propylene prices went up in Asia in the last week due to tight supply ...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search