According to recently released data, Türkiye has emerged as the top-performing economy in the third quarter of the year among both OECD and G20 nations.
Based on a compilation of data from the OECD and the Turkish Statistical Institute, Türkiye's economic growth has now reached its 13th consecutive quarter with its performance in the July-September period.
Türkiye's economy had the highest growth rate among all European Union (EU), OECD, and G20 countries. Costa Rica came second in the OECD with a rate of 5.9%, followed by Israel at 3.4%, Mexico at 3.2%, and the United States at 2.9%. The average growth for OECD countries was 1.7%.
Out of the G20 nations that have released third-quarter growth data, Norway experienced the largest decline in its economy within the OECD, with a contraction of 1.5%. Close behind was Sweden, also in the OECD, with a decrease of 1.3%. Türkiye led among these countries with a growth rate of 4.9%, followed by Indonesia at 4.9% and China at 3.2%.
Over this time frame, the European Union saw an average increase of 0.1%. Among EU member states, Romania claimed the top spot with a growth rate of 2.1%, while Portugal closely followed with 1.9%. The Turkish economy exhibited more rapid and robust growth than its EU counterparts.
