Economy

Turkish economy's total turnover more than doubles in March

Official data shows strong annual growth in key sectors of industry, construction, trade, services

Tuba Sahin   | 13.05.2022
Turkish economy's total turnover more than doubles in March

ANKARA 

The Turkish economy’s total turnover soared 112.9% on an annual basis in March, the country’s statistical authority reported on Friday.

This was driven by significant growth in the industry, construction, trade and services sectors, according to the Turkish Statistical Institute (TurkStat).

The largest annual hike of 130.6% was recorded in the services sector, followed by industry at 126.4%.

Turnover in the trade and construction sectors surged by 102.3% and 83.2%, respectively, in the month.

On a monthly basis, the seasonally and calendar-adjusted total turnover index was up 8.4% in March.

“Industry increased by 6.9%, construction increased by 9.1%, trade increased by 8.6% and services increased by 10.9% on monthly basis in March 2022,” read a TurkStat statement.

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