Türkiye's GDP grows by 3.7%

The Turkish economy expanded by 3.7% year-on-year in the July-September quarter, according to data from the Turkish Statistical Institute.

The country's total economic output for the third quarter amounted to almost $433 billion. This marks the 21st consecutive quarter of economic growth for Türkiye.

Construction grew particularly significantly (by almost 14%), followed by the financial sector (almost 11%) and the information sector (10%). Industrial growth in Turkey was approximately 6%. Experts also note a decline in the agricultural sector of almost 13%.

In a late November report, the International Monetary Fund (IMF) projected that inflation in Türkiye would remain above 10% and GDP growth would stay below 4%.