Turkey’s Gross Domestic Product (GDP) shrinks by 9.9% in the second quarter of 2020

According to the statement, industry sector decreased by 16.5% in the second quarter of 2020.

When the activities which constitute gross domestic product were analyzed; the value added increased by 4.0% in agriculture, 11.0% in information and communication, 27.8% in financial and insurance activities, 1.7% in real estate activities. 16.5% in industry, 2.7% in construction sector, 25.0% in services, 16.5% in professional, administrative and support service activities, 2.4% in public administration, education, human health and social work activities and 18.0% in other service activities decreased.

Seasonally and calendar adjusted GDP with chain linked volume index (2009=100) decreased by 11.0% compared with previous quarter. Calendar adjusted GDP with chain linked volume index (2009=100) decreased by 10.0% compared with the same quarter of the previous year in the second quarter of 2020.

GDP reached 1 trillion 041 billion 643 million TRY at current prices in the second quarter of 2020

GDP increased by 1.3% and reached 1 trillion 041 billion 643 million TRY at current prices. GDP realized 153 billion 180 million US Dollars in the second quarter of 2020.

Government final consumption expenditure decreased by 0.8% in the second quarter of 2020

Government final consumption decreased by 0.8%, final consumption expenditure of resident households decreased by 8.6% and gross fixed capital formation decreased by 6.1% in the second quarter of 2020 compared with the same quarter of the previous year in the chained linked volume index.

Imports of goods and services decreased by 6.3%, exports decreased by 35.3%

Imports of goods and services decreased by 6.3% in the second quarter of 2020 compared with the same quarter of the previous year in the chained linked volume index, exports of goods and services decreased by 35.3%.

Compensation of employees increased by 0.5% in the second quarter of 2020

Compensation of employees are increased by 0.5% and net operating surplus/mixed income are decreased by 2.4% in the second quarter of 2020 compared with the same quarter of the previous year, respectively.

The share of compensation of employees in Gross Value Added was 36.8%

The share of compensation of employees in the Gross Value Added at current prices was 36.8% in the second quarter of 2020 while it was 36.7% in the previous year. The share of net operating surplus/mixed income was 43.9% while it was 45.0% in the same quarter of the previous year. (ILKHA)