September 8 (SeeNews) - Turkey's gross domestic product (GDP) increased by 21.7% year-on-year in the second quarter of 2020, the country's statistical office said.
Estimated at current prices, Turkey's GDP increased by 52.4% in annual terms, reaching nearly 1.6 trillion lira ($180 billion/159.9 billion euro) in the April-June period, TurkStat said in a statement last week.
In the second quarter, the value added in services expanded by 45.8%, while the value added in industry increased by 40.5% year-on-year.
Consumption expenditure of resident households rose by an annual 22.9% in the three months under review. The government's final consumption increased by 4.2% year-on-year in the second quarter.
In the respective period, exports of goods and services went up 59.9% year-on-year, whereas imports increased by 19.2%, TurkStat also said.
(1 euro = 10.0059 lira)