Turkey's GDP grows 6.7% y/y in Q3

Estimated at current prices, Turkey's GDP increased by 22.6% in annual terms, reaching 1.4 trillion lira ($180 billion/150.2 billion euro) in July-September 2020, TurkStat said in a statement.

In the third quarter, the value added in financial and insurance activities expanded by 41.1%, while value added in information and communication activities increased by 15% year-on-year.

The value added increased by 8% in industry, by 6.4% in construction, by 6.2% in agriculture and by 6% in other service activities. The value added in activities grew 2.8% in real estate, 2.4% in public administration, education, health and social work activities, and 0.8% in services.

The value added declined by 4.5% year-on-year in professional, administrative and support service activities.

Consumption expenditure of resident households rose by 9.2% year-on-year in the three months under review. The government's final consumption edged up an annual 1.1% in the third quarter.

In the July-September period, exports of goods and services decreased by 22.4% year-on-year, whereas imports increased by 15.8%.

(1 euro = 9.3207 lira)