The performance of the Turkish economy in the second quarter of 2021 tripled from the first quarter

Turkey's GDP recorded a significant growth of 21.7% on an annual basis during the second quarter of this year 2021.

This rise would be a positive indication of the recovery of Turkey's economy, one of the G-20 economies, from the negative consequences of the Coronavirus pandemic.

A qualitative shift in the second quarter

The Turkish Statistical Office said in a statement on Wednesday, August 31, 2021: "The growth in the second quarter was stronger than the first quarter when a growth of 7.2% was recorded on an annual basis."

According to the statement, Turkey's GDP jumped by 45.8% in the service sector, and 40.5% in the industrial sector, amid an improvement in domestic and global demand for consumption.

Besides, Turkey's GDP rose on an annual basis in professional, administrative and support services activities by 32.4%, 25.3% in information and communications, and 8.5% in public administration, education, and health.

Exports of goods and services increased by 59.9%

In the context of the Turkish Statistical Office statement: Turkey's GDP increased seasonally by 0.9% on a quarterly basis in the second quarter of 2021, compared to the previous quarter.

The final consumer spending of families residing in Turkey increased by 22.9%, while government final consumption increased by 4.2%, and exports of goods and services rose by 59.9% in the second quarter, on an annual basis.

The value of Turkey's GDP during the second quarter of 2021 reached 1.581 trillion TL ($188.566 billion), compared to 1.03 trillion TL ($175.5 billion) on an annual basis.

Edited by Imtilak Real Estate©

Reference: Anadolu Agency

Did you like this topic? You can share it with your friends now.