The Turkish Statistical Institute (TUIK) has announced that Turkey's gross domestic product (GDP) in the second quarter of the current year grew by 10.3 percent to TRY 349.63 million ($194.1 million) in current prices and by 2.9 percent in constant prices to TRY 28.84 million ($16 million), both compared to the same period of the previous year.
Meanwhile, in the second quarter of 2012 Turkey's seasonal and calendar adjusted GDP increased by 1.8 percent compared to the previous quarter.
According to the TUIK data, Turkey's manufacturing sector, which saw a 3.1 percent increase in productivity in the second half of the year, contributed 26 percent to Turkey's overall GDP in the given period.
Turkey's minister of science, industry and technology Nihat Ergün commented on the second quarter GDP growth, stating that the Turkish economy saw the fastest growth rate in its region considering that the euro area recorded a contraction, while OECD countries' GDP saw growth of 1.6 percent in the period in question, all on year-on-year basis.