11/30/2020

Turkey Posts Largest GDP Growth in the World in Third Quarter

​At a time when almost all economies in the world have been staggering under the burden of the COVID-19 outbreak, Turkey managed to handle this period with trivial damage and ended the 3rd quarter of 2020 with a noteworthy performance. ​

 According to the data of the Turkish Statistical Institute (TurkStat), Turkey's economy posted a growth rate of 6.7 percent in 2020 Q3 and the GDP at current prices reached TRY 1.4 trillion. With this outcome, Turkey ranked first in the world and became the only OECD member country to post a positive growth during this period.

 The recovery in the Turkish economy was observed following the normalization steps taken by the government in the third quarter. ​​

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Turkey; economy; growth; TurkStat; GDP; COVID-19