Turkey’s economy shrinks by three percent in Q4

Monday, 11 March 2019 13:42:58 (GMT+3)   |   Istanbul
       

According to the Turkish Statistical Institute (TUIK), Turkey's GDP in 2018 rose by 2.6 percent compared to 2017, while it decreased by three percent in the fourth quarter.

In 2018, household final consumption expenditure increased by 1.1 percent, government final consumption expenditure rose by 3.6 percent and gross fixed capital formation fell by 1.7 percent, all year on year. In the fourth quarter, on the other hand, household final consumption expenditure decreased by 8.9 percent, government final consumption expenditure rose by 0.5 percent and gross fixed capital formation declined by 12.9 percent, all compared to the same quarter of 2017.

According to the TUIK data, Turkey's manufacturing sector contributed 19.1 percent in current prices to Turkey's overall GDP in 2018, and 20.1 percent in the last quarter of the same year.


Tags: Turkey Europe 

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