Turkey economy witnesses exceptional growth in second quarter of year

2025-09-01 08:47:20

(MENAFN) Türkiye’s economy expanded by 4.8 percent in the second quarter compared with the same period last year, surpassing market predictions, official data revealed Monday.

According to the Turkish Statistical Institute, seasonally and calendar-adjusted GDP rose 1.6 percent from the previous quarter, improving from a revised 2.3 percent growth in January-March. A semi-official news agency survey had forecasted 3.87 percent annual growth for April-June. The government is targeting 4 percent growth for 2025 and is expected to release updated forecasts later this month.

Construction and industry were the main growth drivers, while agriculture contracted. On the expenditure side, household consumption and investment supported the expansion, though government spending declined.

Treasury and Finance Minister Mehmet Simsek said the second-quarter results, aided by calendar effects and a low base, confirm that Türkiye’s economic program is on track. “With higher annual growth and ongoing disinflation, the success of our program is evident,” he stated.

Simsek noted that output increased across all sectors except agriculture, which suffered from frost damage. Manufacturing recorded its strongest performance in three years, with high-tech production rising 40 percent year-on-year. He added that Türkiye’s annualized national income is approaching 1.5 trillion U.S. dollars.

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