Turkey, Economy

Turkey: Q2 GDP increased 3.8 percent at constant prices

GDP rose 3.8 percent at constant prices and 12.6 percent at current prices, TurkStat reports

10.09.2015
Turkey: Q2 GDP increased 3.8 percent at constant prices

ANKARA

Turkish gross domestic product increased by 3.8 percent in the second quarter at constant prices from the same quarter of the previous year, the Turkish Statistical Institute reported on Thursday. 

But GDP increased by 12.6 percent from April to June 2015 at current prices from the second quarter of 2014.

Constant prices are determined with the base year 1998.

GDP reached 32.9 billion Turkish liras ($10.8 billion) at constant prices, and hit 481.7 billion Turkish liras ($158.1 billion) at current prices.

"The difference between the two figures is accounted for by the currently weaker Turkish lira considered in current prices," explained Christopher Dembik, an economist with Saxo Banque in Paris.

"But the solid performance in this quarter is not a surprise. Household and government consumption both remain steady and are driving growth," Dembik said.

Agricultural performance also helped growth. It increased by 20.3 percent in the quarter, to reach 30.7 billion Turkish liras ($10.1 billion) at current prices, and increased by 6.7 percent to 2.4 billion Turkish liras ($788.2 million) at constant prices in the second quarter of 2015.

Industrial performance also increased 10 percent, and reached 119.6 billion Turkish liras ($39.3 billion) at current prices, and increased by 4.1 percent to 11.1 billion Turkish liras ($3.6 billion) at constant prices in the second quarter of 2015.

Services performance also improved. It increased by 11.2 percent, and reached 273.8 billion Turkish liras at current prices, and increased by 4.1 percent to reach 18.7 billion Turkish liras at constant prices in the second quarter of 2015.

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın