Turkish economic growth at 0.9% in Q3
Turkey's economy has grown 0.9% in the third quarter year-on-year, the Turkish Statistical Institute (TurkStat) said Monday.
- Economy
- Anadolu Agency
- Published Date: 11:18 | 02 December 2019
- Modified Date: 06:19 | 02 December 2019
Turkey's economy expanded by 0.9% year-on-year in the third quarter of this year, the country's statistical authority reported Monday.
Gross domestic product (GDP) at current prices in Turkey reached 1.15 trillion Turkish liras ($201.9 billion) this July-September, TurkStat said.
The figure rose 11.5% from 1 trillion Turkish liras ($189.8 billion) in the same quarter last year.
Anadolu Agency's growth expectation for the third quarter -- from a survey conducted by a group of 13 experts -- was 1.1%.
The total value added surged by 3.8% in the agricultural sector and 1.6% in the industry sector, while it fell by 7.8% in the construction sector.
The services sector's value added -- wholesale and retail trade, transport, storage, accommodation, and food service activities -- rose 0.6% during the same period.
TurkStat data also showed that seasonally and calendar-adjusted gross domestic product went up by 0.4% (Q3) compared to the previous quarter (Q2).
Turkey's year-end economic growth in 2019 is expected to be 0.5%, according to the country's new economic program announced on Sept. 30.
The new program targets 5% annual growth rate for each of the next three years.
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