Türkiye’s economy grows 2.3% in 2nd quarter
Baku, August 31, AZERTAC
Türkiye’s economy grew 2.3% year-on-year in the second quarter of 2026, Anadolu Agency reported, citing official data.
Gross domestic product (GDP) expanded 1.1% from the previous quarter on a seasonally and calendar-adjusted basis, according to the Turkish Statistical Institute (TurkStat).
Agriculture, forestry and fishing recorded the strongest annual growth among economic activities, with value added rising 13.3% in the April-June period.
Information and communication grew 8.6%, followed by public administration, education, human health and social work activities at 4%.
Value added increased 3.2% in other service activities, 2.4% in industry, and 2.1% each in financial and insurance activities and real estate.
Professional, administrative and support services expanded 2%, while trade, transportation, accommodation and food services posted growth of 0.5%.
Construction was the only major sector to contract, falling 1.9% from a year earlier.
At current prices, Türkiye’s GDP rose 36% year-on-year to 19.87 trillion Turkish liras ($438.35 billion) in the second quarter.
Household final consumption expenditure increased 3.5% annually in volume terms, while government consumption declined 1.8%.
Gross fixed capital formation, a measure of investment, grew 0.6% from the same period last year.
Exports of goods and services fell 3.4% year-on-year, while imports decreased by a sharper 6.4%.
Treasury and Finance Minister Mehmet Simsek said Türkiye’s annualized national income exceeded $1.7 trillion in the second quarter.
He noted that the economy achieved balanced growth with support from both domestic and external demand, as private consumption rose 3.5% and investment increased 0.6%, while net external demand contributed positively.
The annualized current account deficit stood at $38.9 billion, equivalent to 2.3% of GDP, which Simsek described as a sustainable level.
Simsek said strengthening macroeconomic fundamentals were increasing the economy’s resilience to shocks, adding that growth was expected to accelerate gradually amid progress in disinflation and more supportive global conditions.
Separately, TurkStat’s independent annual GDP calculations showed that the Turkish economy expanded 3.7% in 2025.
GDP at current prices increased 41.6% to 63.24 trillion liras last year, while GDP per capita stood at 714,682 liras, or $18,103.
Manufacturing accounted for the largest share of GDP at 15.6%, followed by wholesale and retail trade and motor vehicle repairs at 12.9%, and real estate activities at 9.2%.
Construction posted the strongest sectoral growth in 2025, rising 11%, followed by arts, entertainment and recreation at 8.5%, and information and communication at 7.9%.
Agriculture, forestry and fishing contracted 8.5%, while water supply, sewerage and waste management declined 5%.
Household consumption grew 4.2% in 2025 and accounted for 54.4% of GDP. Gross fixed capital formation increased 7.3%, while government consumption rose 1%.
Exports of goods and services declined 0.6%, while imports increased 4.6% last year.
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