Turkey’s economy grows by seven percent in Q1

Turkey’s economy grows by seven percent in Q1

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According to the Turkish Statistical Institute (TUIK), Turkey’s GDP in the first quarter this year increased by seven percent compared to the first quarter of 2020.

In the first quarter, household final consumption expenditure increased by 7.4 percent, government final consumption expenditure rose by 1.3 percent and gross fixed capital formation increased by 11.4 percent, all compared to the same quarter of 2020.

According to the TUIK data, Turkey’s manufacturing sector contributed 21.4 percent in current prices to Turkey’s overall GDP in the first quarter of the current year.

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