Turkstat announced figures of periodic Gross Domestic Product of the third quarter of 2018.

Gross domestic product increased by 1.6% compared with the same quarter of the previous year in the third quarter of 2018.

Gross domestic product increased by 21.8% and reached 1 trillion 13 billion 453 million TRY at current prices.

When the activities which constitute gross domestic product were analyzed; the total value added increased by 1% in the agricultural sector, 0.3% in the industry sector and 4.5% in the services sector (wholesale and retail trade, transport, storage, accommodation and food service activities) while it decreased by 5.3% in the construction sector compared with the same quarter of the previous year in the chained linked volume index.

Calendar adjusted gross domestic product in the third quarter of 2018 increased by 2.1% compared with the same quarter of the previous year. Seasonally and calendar adjusted gross domestic product decreased by 1.1% compared with the previous quarter.

Household final consumption expenditure increased by 1.1%

Final consumption expenditure of resident households and final consumption of NPISH increased by 1.1%. Government final consumption expenditure increased by 7.5% and gross fixed capital formation decreased by 3.8% in the third quarter of 2018 compared with the same quarter of the previous year in the chained linked volume index.

Exports of goods and services increased by 13.6% imports decreased by 16.7%

Exports of goods and services increased by 13.6% imports of goods and services decreased by 16.7% in the third quarter of 2018 compared with the same quarter of the previous year in the chained linked volume index.

Compensation of employees increased by 19.4%

Compensation of employees increased by 19.4% while net operating surplus/mixed income increased by  22.2% in the third quarter of 2018 compared with the same quarter of the previous year.

The share of compensation of employees in Gross Value Added was 31.6%

The share of compensation of employees in the Gross Value Added was 31.6% in the third quarter of 2018 while it was 32.5% in the same quarter of the previous year. The share of net operating surplus/mixed income was 51.8% while it was 52% in the same quarter of the previous year. (ILKHA)