Published On: Thu, Sep 13th, 2018

TUIK report says Turkey’s Gross Domestic Product increases by 7.4 percent in 2017




TUIK report says Turkey’s Gross Domestic Product increases by 7.4 percent in 2017

Turkish Economy Industry – BusinessTurkeyToday.com

 

Based on report by TUIK (Turkey’s Statistical Institute) the annual gross domestic product (GDP) which is calculated according to the production method based on yearly balance sheets and income statements the chain-linked volume index, increased by 7.4% in 2017 compared to the previous year.

GDP increased by 19.1 percent compared to the previous year in 2017 and reached TL 3 trillion 106 billion 537 million based on production approach and at current prices.

It was reported that the highest share of gross domestic product belonged to the manufacturing industry with 17.6 percent. Manufacturing industry was followed by wholesale and retail trade and construction industries with 11.9 percent and 8.6 percent respectively. It was also shared in the report that services of households as employers had lowest share in GDP.

Another important finding in the report was “per capita gross domestic product” was recorded at TL 38,680 in 2017.

Judging at the difficulties Turkey has been going through for quite a while now experts commented that the results had come considerably better than expected.





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