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Turkish Economy Grew By 7.6 Percent In The Second Quarter

The Turkish economy grew by 7.6 percent in the second quarter of the year. Turkish Statistical Institute (TÜİK) announced the Periodic Gross Domestic Product data for the second quarter of 2022. Accordingly, the first GDP forecast for the second quarter of 2022; As a chained volume index, it increased by 7.6 percent compared to the same quarter of the previous year.

Finance And Insurance Activities Increased 26.6 Percent In The Second Quarter Of 2022

When the activities that make up the GDP are examined; In the second quarter of 2022, as a chain volume index compared to the previous year; finance and insurance activities 26.6 percent, service activities 18.1 percent, professional, administrative and support service activities 11.0 percent, industry 7.8 percent, information and communication activities 5.3 percent, real estate activities 4.1 percent, other service activities increased by 1.9 percent and public administration, education, human health and social work activities increased by 1.7 percent.

Turkish Economy

Agriculture, forestry and fisheries decreased by 2.9 percent, and the construction sector decreased by 10.9 percent. Seasonally and calendar adjusted GDP chain volume index increased by 2.1 percent compared to the previous quarter. The calendar adjusted GDP chained volume index increased by 7.3 percent in the second quarter of 2022 compared to the same quarter of the previous year.

Gdp In The Second Quarter Of 2022 At Current Prices 3 Trillion 418 Billion 967 Million TL

Gross Domestic Product by production method increased by 114.6 percent in the second quarter of 2022 at estimated current prices compared to the same quarter of the previous year and became 3 trillion 418 billion 967 million TL. The second quarter value of GDP was 219 billion 335 million US dollars at current prices.

Housing Consumption Expenses Increased 22.5 Percent In The Second Quarter Of 2022

As a chain volume index, consumption expenditures of resident households increased by 22.5 percent in the second quarter of 2022 compared to the same quarter of the previous year. While the final consumption expenditures of the government increased by 2.3 percent, the gross fixed capital formation increased by 4.7 percent.

Turkish Economy

In the second quarter of 2022, exports of goods and services increased by 16.4 percent as a chain volume index, while imports increased by 5.8 percent compared to the same quarter of the previous year.

In the second quarter of 2022, workers’ payments increased by 66.4 percent compared to the same quarter of the previous year, while net operating surplus/mixed income increased by 134.7 percent.

While the share of labor payments in Gross Value Added at current prices was 32.6 percent in the second quarter of last year, this rate became 25.4 percent in 2022. While the share of net operating surplus/mixed income was 49.2 percent, it was 54.0 percent.

Source

Gül Demirci

Hello, I am Gul, I write content for Expat Guide Turkey every day. Don't forget to check it out!

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