Turkey’s Statistical Institute (TSI) announces 2.6 percent growth for 2018

Turkey Statistical Institute (TSI) has announced growth figures for 2018.  Based on the report shared by TSI Turkey’s growth for 2018 did not manage to exceed 2.6 percent which was not a favorable performance for the administration.

It was noted in the same report that the economy had shrunk by 3 percent in last quarter of 2018.

According to the production method, GDP in current prices increased by 19.1 percent in 2018 compared to the previous year and amounted to TL 3 trillion 700 billion 989 million.

Analyzing the activities that make up the GDP, the added value of agriculture and industry increased by 1.3 percent and 1.1 percent respectively, while the construction sector decreased by 1.9 percent. The value added of the services sector, which consists of trade, transportation, accommodation and food service activities, increased 5.6 percent.

GDP per capita was calculated as US$ 9 thousand 632 in 2018. This value was calculated as US$ 10 thousand 597 in 2017.