TÜİK: Economy grew by 2.5 percent in the first quarter

The Turkish economy recorded a growth of 2.5 percent in the first quarter of 2026 compared to the same period last year.

The Turkish Statistical Institute (TÜİK) published the Gross Domestic Product (GDP) data for the first quarter of 2026. Accordingly, GDP calculated with the chained volume index increased by 2.5 percent compared to the same quarter of the previous year.

HIGHEST GROWTH IN THE INFORMATION AND COMMUNICATION SECTOR

When examining economic activity branches, information and communication activities recorded the highest growth in the first quarter of 2026 with 9.5 percent. Other service activities increased by 5.2 percent, the agricultural sector by 4.6 percent, trade, transportation, accommodation and food services by 3.7 percent, financial and insurance activities by 3.5 percent, the construction sector by 3.2 percent, and real estate activities by 3 percent.

In the same period, taxes on products minus subsidies rose by 2 percent, professional, administrative and support service activities by 1.9 percent, and public administration, education, health and social service activities by 1.8 percent. The industrial sector, however, declined by 0.8 percent.

LIMITED INCREASE ON A QUARTERLY BASIS

The seasonally and calendar-adjusted GDP chained volume index increased by 0.1 percent compared to the previous quarter. Calendar-adjusted GDP rose by 2.6 percent compared to the same period last year.

GDP AT CURRENT PRICES APPROACHED 17 TRILLION LIRA

GDP calculated by the production method at current prices increased by 35.7 percent in the first quarter of 2026 compared to the same period last year, reaching 16 trillion 999 billion 977 million lira. In the same period, the value of GDP in US dollars was calculated as 389 billion 598 million dollars.

INCREASE RECORDED IN CONSUMPTION AND INVESTMENTS

Final consumption expenditures of resident households increased by 4.8 percent in the first quarter of the year. There was an increase of 2.1 percent in government final consumption expenditures and 3 percent in gross fixed capital formation.

DECLINE IN FOREIGN TRADE DREW ATTENTION

In the first quarter of 2026, exports of goods and services decreased by 12.7 percent compared to the same period last year, while imports declined by 2 percent.

LABOR PAYMENTS ROSE BY 35.9 PERCENT

Labor payments showed an annual increase of 35.9 percent in the first quarter. The increase in net operating surplus and mixed income was recorded at 34.4 percent.

SHARES IN VALUE ADDED ANNOUNCED

The share of labor payments in Gross Value Added at current prices remained at 42.7 percent, as it was in the first quarter of last year. The share of net operating surplus and mixed income decreased from 36.3 percent to 35.8 percent.

News Source: İHA