Turkish economy contracts another 3.3 percent in Q3

Thursday, 10 December 2009 13:57:53 (GMT+3)   |  
       

On December 10, the Turkish Statistical Institute (TUIK) announced that Turkey's gross domestic product (GDP) in the third quarter of 2009 indicated a 0.1 percent decrease to TRY 262.23 billion (approx. US$174.15 billion) in current prices and a 3.3 percent decrease to TRY 27.13 billion (approx. US$18.02 billion) in constant prices, both compared to the same quarter of the previous year.

Meanwhile, in the first nine months of 2009, Turkey's GDP in current prices slid 2.3 percent to TRY 700.96 billion and was down 8.4 percent in constant prices to TRY 71.29 billion, both compared to the corresponding period of 2008.

On the other hand, the TUIK has revised its record contraction ratio of 14.4 percent in the first quarter of 2009 to 14.7 percent, and has also adjusted the seven percent contraction in the second quarter to 7.9 percent.


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