(MENAFN) Türkiye's economy registered 3.7 percent year-on-year expansion during the third quarter, following 4.9 percent growth in the second quarter and 2.5 percent in the first, data released Monday by the Turkish Statistical Institute revealed.

Finance Minister Mehmet Simsek projected growth will sustain moderate momentum through the final quarter, slightly surpassing the Medium-Term Program's 2025 target of 3.3 percent real GDP growth.

He added that more favorable financial conditions and a supportive global environment should lead to stronger economic activity in 2026, and that growth would continue to aid the decline in inflation.

Simsek emphasized that agriculture—a GDP heavyweight sector—contracted sharply due to frost and drought conditions, substantially constraining overall economic expansion. Agricultural value added plummeted 12.7 percent year-on-year, following a 5.5 percent decline in the preceding quarter. Conversely, non-agricultural growth surged to 5.6 percent.

Industrial value added climbed 6.5 percent, with high-tech manufacturing demonstrating particularly robust performance. Vigorous construction sector growth persisted, bolstered by reconstruction initiatives in earthquake-affected regions, he said.

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