Turkey’s GDP declined by 9.9% y/y in the second quarter

Government spending declined by 0.8% y/y and gross fixed capital formation dropped by 6% y/y
Government spending declined by 0.8% y/y and gross fixed capital formation dropped by 6% y/y
Government spending declined by 0.8% y/y and gross fixed capital formation dropped by 6% y/y

Turkey’s real GDP declined by 9.9% y/y in Q2 2020, compared to a 4.4% increase in the previous quarter, data released by the Turkish Statistical Institute (TurkStat) shows. This is the largest economic decline since Q1 2009, when the Turkish economy posted a 15% y/y drop. 

Government spending declined by 0.8% y/y and gross fixed capital formation dropped by 6% y/y.

Government spending declined by 0.8% y/y and gross fixed capital formation dropped by 6% y/y. Imports declined by 6.3% y/y, while exports plummeted by 35.3% y/y.
 

 

Country

4th September 2020 Turkey’s GDP declined by 9.9% y/y in the second quarter