Istanbul, March 11 () – Turkey’s gross domestic product (GDP) by production approach with chain linked volume index fell by 3.0 percent in the fourth quarter, however it grew by 2.6 percent in 2018.
Turkish Statistical Institute’s (TurkStat) data revealed that GDP by production approach at current prices rose by 19.1 percent and reached 3 trillion 700 billion 989 million liras in 2018, compared to the previous year.
Concerning the activities which constitute GDP;
- the value added in agricultural sector rose by 1.3 percent,
- the value added in industry sector rose by 1.1 percent,
- the value added in construction sector fell by 1.9 percent.
According to TurkStat, GDP by production approach with chain linked volume index fell by 3.0 percent in the fourth quarter of 2018 compared to the same quarter of previous year. During the same period, GDP rose by 13.4 percent and reached 1 trillion 10 billion 114 million liras at current prices.
Calendar adjusted GDP in the fourth quarter of 2018 fell by 3.2 percent compared to the same quarter of the previous year and the seasonally and calendar adjusted GDP fell by 2.4 percent compared to the previous quarter.
Final consumption expenditure of resident households and final consumption of NPISH rose by 1.1 percent in 2018 compared to the previous year's chain linked volume index and the share of household consumption expenditures in GDP was 57.6 percent.
In 2018, the share of government final consumption expenditures in GDP was 14.4 percent, while the share of fixed capital formation was 29.7 percent.
In 2018, exports of goods and services rose by 7.5 percent, imports fell by 7.9 percent compared to the previous year's chain-volume index. Exports of goods and services increased by 10.6 percent in the fourth quarter compared to the same quarter of the previous year in the chained linked volume index, imports of goods and services fell by 24.4 percent.
Compensation of employees rose by 18.6 percent while net operating surplus/mixed income increased by 18.7 percent in 2018 and the share of compensation of employees in the Gross Value Added at current prices rose to 31.2 percent in the fourth quarter of 2018, from 31.1 percent in the same quarter of the previous year. The share of net operating surplus/mixed income was 51.3 percent while it was 53.9 percent in the same quarter of the previous year. (Table)