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

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

October 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
77.6%
No
13.4%
Skip
9.0%

Total Votes: 67

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
61.2%
No
28.4%
Skip
10.4%

Total Votes: 67

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
85.1%
No
10.4%
Skip
4.5%

Total Votes: 67

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
74.6%
No
11.9%
Skip
13.4%

Total Votes: 67


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