Turkey's economic growth surpasses 9% in 2004

Turkey’s economic growth surpasses 9% in 2004

Turkey's State Institute of Statistics (DIE) today disclosed that the country's 2004 economic growth reached 9.9%. This figure represents the highest level since 1966, when economic growth hit 12%. Turkey's gross national product (GNP) totaled $299.5 billion in 2004, while its gross domestic product (GDP) amounted to $300.6 billion. Consequently, national income per capita rose from $3'383 in 2003 to $4'172 in 2004. In addition, GDP per capita increased from $3'412 to $4'187. These figures represent year-on-year increases of 23.3% and 22.7% respectively. Among all sectors in 2004, import tax saw the highest growth (26.2%), followed by trade (12.8%) and industrial (9.4%). Government expenditures rose 0.5% in 2004, and private consumption expenditures increased 10.1%.