Turkey announces 10.3-percent economic growth

Turkish economy grew 10.3 percent year-on-year in the second quarter of 2010, Turkish statistical authority said.

Turkey announces 10.3-percent economic growth

Turkish economy grew for the third consecutive quarter in Q2 2010, with a 10.3 percent year-on-year rise, Turkey's statistics authority said on Tuesday.

TurkStat said that the economy grew 11 percent in the first half of 2010.

The gross domestic product increased by 17.1% to 268.4 billion Turkish lira year-on-year in the second quarter of 2010 in current prices (One U.S. dollar equals 1.5 TL). It rose by 10.3 percent in constant prices in the same period.

GDP climbed by 11 percent to 510.7 billion TL in constant prices in the first six months of 2010.

Construction was the fastest growing sector in this period with 21.9 percent yet with a base effect from a 20.9 percent drop in Q2 2009.

Fisheries grew 15.7 percent after a 0.4 percent slide Q2 2009 and manufacturing sector grew 15.4 percent after a 11.5 percent loss in Q2 2009.

Following is a chart of GDP figures according to TurkStat for the years of 2008, 2009, and 2010:

 

. Current Fixed Current
     . Prices Prices Prices USD
     . GDP Change(%) GDP Change
     . (TRYmillion) (USDmillion) (%)
     Period
     ------------- ------------ ---------- ---------- ---------------
     2008 1st quarter 215,846 7.3 180,019 35.3
     2008 2nd quarter 239,244 2.8 188,838 24.6
     2008 3rd quarter 262,905 1.2 217,086 20.9
     2008 4th quarter 232,149 -6.2 155,848 -15.5
    
     2008 Annual 950,144 1.1 741,792 14.3
    
    
     2009 1st quarter 208,546 -14.6 126,331 -29.7
     2009 2nd quarter 229,326 -7.6 145,939 -22.8
     2009 3rd quarter 262,456 -2.7 174,443 -19.5
     2009 4th quarter 252,307 6.0 170,041 8.5
    
     2009 Annual 952,635 -4.7 616,753 -16.9
    
     2010 1st quarter 242,265 11.7 160,603 27.1
     2010 2nd quarter 268,495 10.3 173,861 19.1
    

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Last Mod: 14 Eylül 2010, 13:10
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