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Third quarter growth figures for Turkey’s economy were announced.
The corona virus of Turkey’s economy is less felt by the negative impact of the epidemic and the recovery momentum in the third quarter of the year recorded a record growth of 6.7 percent compared to the same period of the previous year .
FINANCE AND INSURANCE ACTIVITIES INCREASED 41.1% IN THE THIRD QUARTER OF 2020
When the activities that make up GDP are examined; As the chained volume index in the third quarter of 2020 compared to the previous year; financial and insurance activities 41.1%, information and communication activities 15.0%, industry 8.0%, construction 6.4%, agriculture 6.2%, other service activities 6.0%, real estate activities 2 , 8%, the activities of public administration, education, human health and social work increased by 2.4% and services by 0.8%. Professional, administrative and support services activities decreased 4.5%.
The chained volume index of seasonally and calendar adjusted GDP increased 15.6% compared to the previous quarter. The chained volume index of calendar-adjusted GDP increased by 6.5% in the third quarter of 2020 compared to the same quarter of the previous year.
GDP WAS 1 TRILLION 419 BILLION 483 MILLION TL AT CURRENT PRICES IN THE THIRD QUARTER OF 2020
The estimation of the Gross Domestic Product by production method increased by 22.6% in the third quarter of 2020 compared to the same quarter of the previous year and reached 1 trillion 419 billion 483 million TL. The value of GDP for the third quarter was 197 billion 377 million in US dollars at current prices.
STATE FINAL CONSUMPTION EXPENSES INCREASED 1.1% IN THE THIRD QUARTER OF 2020
State final consumption expenditures increased 1.1% in the third quarter of 2020 compared to the same quarter of the previous year as a chained volume index. Consumption expenditures of resident households increased 9.2% and gross fixed capital formation increased 22.5%.
THE IMPORT OF GOODS AND SERVICES INCREASED 15.8% IN THE THIRD QUARTER OF 2020 AND THE EXPORT DECREASED 22.4%
Imports of goods and services increased by 15.8% in the third quarter of 2020 compared to the same quarter of the previous year, while exports decreased by 22.4% as a chain volume index.
LABOR PAYMENTS INCREASED 9.7% IN THE THIRD QUARTER OF 2020
Labor payments increased 9.7% and net operating surplus / mixed income increased 32.1% in the third quarter of 2020 compared to the same quarter of the previous year.
THE SHARE OF LABOR PAYMENTS IN GROSS VALUE ADDED IS 29.9%
Although the share of labor payments in gross value added at current prices was 32.9% in the third quarter of last year, this rate was 29.9% in 2020. The share of net operating surplus / mixed income increased from 50.5% to 55.3%.
Turkey’s economy contracted 9.9 percent in the second quarter.
