Turkey’s economy grows by 2.9 percent in 2016

According to the Turkish Statistical Institute (TUIK), Turkey’s GDP in 2016 rose by 2.9 percent compared to the previous year.

In 2016, household final consumption expenditure increased by 2.3 percent, government final consumption expenditure rose by 7.3 percent and gross fixed capital formation grew by three percent, all year on year.

According to the TUIK data, Turkey’s manufacturing sector contributed 16.7 percent in current prices to Turkey’s overall GDP in 2016.

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