Turkish economy grows by 4.4% in Q2 2013

Turkish economy grows by 4.4% in Q2 2013

 

Review by Christos T. Panagopoulos

Turkish economy grew by 4.4 percent in the second quarter of 2013 compared to the same period of last year, securing a growth for successive fifteen quarters, TurkStat said on Tuesday.

TurkStat, Turkey’s statistical authority, announced that according to the 2013 second quarter figures, GDP growth rate was 4.4% at constant prices.

In April-June period of 2013, GDP increased by 4.4% and reached 30.145 billion Turkish Liras at constant prices.

Gross domestic product increased by 10.2% at current prices, compared to the same quarter of previous year in the second quarter of 2013 and reached 385.113 billion Turkish Liras.

Besides, calendar adjusted GDP in second quarter of 2013 increased by 4.1% compared to the same quarter of previous year.

Seasonally and calendar adjusted GDP was 2.1% compared to the previous quarter.

According to the AA Finace Expectation Survey, economists anticipated the growth rate for the second quarter of 2013 to be 3.5 percent.

Manufacturing industry, in the second quarter of 2013 increased by 5.7% and reached 61.4 billion Turkish Liras at current prices, increased by 3.4% and reached 7.7 billion Turkish Liras at constant prices.

Household final consumption expenditure in the second quarter of 2013 increased by 12% and reached 275.347 billion Turkish Liras at current prices, increased by 5.3% and reached 19.769 billion Turkish Liras at constant prices.

Government final consumption expenditure in the second quarter of 2013 increased by 11.8% and reached 56.720 billion Turkish Liras at current prices, increased by 7.4% and reached 3.183 billion Turkish Liras at constant prices.

Gross fixed capital formation in the second quarter of 2013 increased by 8.8% and reached 81.972 billion Turkish Liras at current prices, increased by 3.7 percent and reached 7.831 billion Turkish Liras at constant prices.

Source: Anadolu News Agency