The Turkish economy Expands by 3.9% in the Third Quarter

According to data issued by the Turkish Statistical Institute, Türkiye’s gross domestic product (GDP) increased by 3.9 percent compared to the same quarter of the prior year in the third quarter of 2022, exceeding most peers and growing by projections (TurkStat).

The Turkish economy has grown for eleven straight quarters, with annual GDP growth of 3.9%.

A detailed examination of GDP activities showed that, except construction, every component, particularly those related to finance and insurance, information, and communication, significantly impacted economic growth.

Financial and insurance operations saw a value-added rise of 21.6 percent, followed by the technology and communication industry at 13.9 percent and services at 12.6 percent.