According to data issued by the Turkish Statistical Institute, in the third quarter of 2022, Turkey's gross domestic product (GDP) increased by 3.9% compared to the same quarter of the previous year, in line with projections and exceeding the majority of its peers (TurkStat).
The Turkish economy has increased for ten consecutive quarters, with an annual GDP growth rate of 3.9%.
A detailed review of GDP activities revealed that all components, especially financial & insurance activities and information & communication, positively contributed to economic development except construction.
In the financial and insurance industry, the value-added climbed by 21,6 percent, in the information and communication sector by 13,9 percent, and in the service sector by 12,6 percent.
