3/1/2021

Turkish Economy Grows 1.8 percent in 2020

​​Turkey's economy grew 1.8 percent year-on-year in 2020 and 5.9 percent in the fourth quarter, faster than all G-20 economies, with China being the only exception.

Gross domestic product (GDP) at current prices scored TRY 5.05 trillion in 2020 increasing by 16.8 percent, and the GDP per capita amounted to USD 8,599 the Turkish Statistical Institute (TurkStat) announced.

A close analysis of GDP's activities revealed the value added increased by 21.4 percent in financial and insurance sectors, 13.7 percent in the information and communication activities, and 4.8 percent in agriculture.​​

Gross domestic product; GDP; economy; TurkStat