Turkey’s economy grows 7.3% in Q1—statistical agency

GDP with chain-linked volume index increased by 7.3% compared with the same quarter of the previous year in the first quarter of 2022.

Financial and insurance activities increased by 24.2% in the first quarter of 2022

When the activities which constitute gross domestic product were analyzed; the value added increased by 24.2% in financial and insurance, 16.8% in information and communication, 14.9% in services, 8.9% in professional, administrative and support service activities, 7.4% in industry, 6.8% in other service activities, 5.4% in real estate activities, 5.2% in public administration, education, human health and social work activities and 0.9% in agriculture, respectively. Construction sector decreased by 7.2%.

Seasonally and calendar adjusted GDP with chain linked volume index (2009=100) increased by 1.2% compared with previous quarter. Calendar adjusted GDP with chain linked volume index (2009=100) increased by 7.3% compared with the same quarter of the previous year in the first quarter of 2022.

GDP reached 2 trillion 496 billion 328 million TRY at current prices in the first quarter of 2022

GDP increased by 79.5% and reached 2 trillion 496 billion 328 million TRY at current prices. GDP realized 179 billion 800 million US Dollars in the first quarter of 2022.

Final consumption expenditure of resident households increased by 19.5% in the first quarter of 2022

Final consumption expenditure of resident households increased by 19.5%, government final consumption increased by 0.9% and gross fixed capital formation increased by 1.1% in the first quarter of 2022 compared with the same quarter of the previous year in the chained linked volume index.

Exports of goods and services increased by 16.8%, imports increased by 2.3%

Exports of goods and services increased by 16.8% in the first quarter of 2022 compared with the same quarter of the previous year in the chained linked volume index, imports of goods and services increased by 2.3%.

Compensation of employees increased by 59.7% in the first quarter of 2022

Compensation of employees increased by 59.7% and net operating surplus/mixed income increased by 88.1% in the first quarter of 2022 compared with the same quarter of the previous year, respectively.

The share of compensation of employees in Gross Value Added was 31.5%

The share of compensation of employees in the Gross Value Added at current prices was 31.5% in the first quarter of 2022 while it was 35.5% in the previous year. The share of net operating surplus/mixed income was 47.6% while it was 45.6% in the same quarter of the previous year. (ILKHA)