Turkish economy grew by 2.1 percent in the third quarter
The Turkish economy recorded a growth of 2.1 percent on an annual basis in the third quarter of 2024. The construction, finance, insurance, and agriculture sectors contributed to the growth.
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The Turkish Statistical Institute (TÜİK) has released the quarterly gross domestic product (GDP) data for the third quarter.
According to the data, the first estimate of GDP for the third quarter of 2024, as a chained volume index, increased by 2.1 percent compared to the same quarter of the previous year.
CONTRIBUTION TO GROWTH FROM THE CONSTRUCTION SECTOR
When examining the activities that make up the GDP, as a chained volume index in the third quarter of 2024 compared to the previous year; construction increased by 9.2 percent, financial and insurance activities by 6.2 percent, the agriculture sector by 4.6 percent, real estate activities by 2.5 percent, taxes on products minus subsidies by 2.3 percent, information and communication activities by 2.2 percent, public administration, education, human health and social work activities by 1.9 percent, and services by 1.4 percent.
INDUSTRIAL ACTIVITIES DECREASED
Other service activities decreased by 2.4 percent, the industrial sector by 2.2 percent, and professional, administrative, and support service activities by 0.3 percent.
