Turkiye's GDP rises by 3.8% YoY in Q2 2023

01 Sep '23

1 min read

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Insights

Turkiye's GDP increased by 3.8 per cent year on year (YoY) in the second quarter (Q2) this year.
Calendar-adjusted GDP with chain linked volume index rose by 5 per cent YoY in the quarter.
Imports of goods and services rose by 20.3 per cent YoY in the quarter in the chained linked volume index, while their exports decreased by 9 per cent YoY.

Turkiye’s gross domestic product (GDP) increased by 3.8 per cent year on year (YoY) in the second quarter (Q2) this year. Seasonally- and calendar-adjusted GDP with chain-linked volume index increased by 3.5 per cent compared with the previous quarter.

Calendar-adjusted GDP with chain linked volume index rose by 5 per cent YoY in Q2 2023.

GDP increased by 60.7 per cent and reached 5 trillion 502.192 billion TRY at current prices. GDP was worth $271.468 billion in the quarter.

Imports of goods and services increased by 20.3 per cent YoY in the quarter in the chained linked volume index, while their exports decreased by 9 per cent YoY.

Independent annual GDP increased by 5.5 per cent YoY in 2022, when the manufacturing industry had the largest share with 22.1 per cent. It was followed by wholesale and retail trade with a share of 13.5 per cent.

The GDP per capita last year was 176,651 TRY and $10,659 at current prices.

Exports of goods and services increased by 9.9 per cent YoY, while such imports increased by 8.6 per cent YoY in 2022 in chain linked volume index.

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