On December 12, the Turkish Statistical Institute (TUIK) announced that Turkey's gross domestic product (GDP), which recorded the highest growth in the world in the first quarter with an 11 percent increase in constant prices, in the third quarter of this year grew by 17.4 percent to TRY 348.8 billion ($188.6 billion) in current prices and by 8.2 percent in constant prices to TRY 31 billion ($16.8 billion), all compared to the same period of last year.
Meanwhile, in the third quarter of 2011 Turkey's seasonal and calendar adjusted GDP increased by 1.7 percent compared to the previous quarter.
In 2010, Turkey's GDP had indicated a nine percent increase to TRY 105.7 billion ($57.2 billion) in constant prices and a 15.9 percent increase to TRY 1.1 trillion ($595 billion) in current prices.
Meanwhile, in the third quarter of 2011 China was the top country for GDP growth in the world with a nine percent increase, while Turkey followed China with an 8.2 percent increase.
According to TUIK data, Turkey's manufacturing sector, which increased 8.9 percent in the third quarter, contributed 21.8 percent to Turkey's overall GDP in the given quarter. The manufacturing sector recorded an 8.1 percent increase in the second quarter this year.