Türkey’s economy grew 7.6% year-on-year in the second quarter of 2022, according to the country’s statistical authority on Wednesday.
The country’s gross domestic product (GDP) at current prices surged 114.6% to 3.4 trillion Turkish liras ($219.3 billion) in the April-June period, the Turkish Statistical Institute (TurkStat) said.
During this period, while the annual sectoral growth was 7.8% in industry and 18.1% in services, construction decreased by 10.9% and agriculture by 2.9%. The economy thus recorded one of the highest growth rates in the G20.
With this growth, Türkey became the second-fastest growing economy in the G20 after Saudi Arabia.
Final consumption expenditure of resident households increased by 22.5%, while the government’s final consumption rose by 2.3% in the second quarter compared with the same period last year.
The country’s economy grew 7.3% year-on-year in the first quarter.
Follow us on:
The federal government has reinstated Professor Joseph Ikechebelu as acting Vice-Chancellor of UNIZIK, nullifying Professor…
Court of Appeal has overturned the Federal High Court ruling barring INEC from releasing voter…
Kenya has cancelled airport and energy deals with Adani following US bribery and fraud charges…
Brazil’s former president Bolsonaro and 36 others have been indicted for allegedly attempting a coup…
Republican David McCormick won Pennsylvania Senate seat as Democratic Sen. Bob Casey concedes after recount…
Trudeau's government has announced plans for temporary tax relief, cheques for Canadians amid rising costs…