Turkish Economy Growth Record

The Turkish economy has hit a record 21.7% annualized GDP growth in the past 6 months, not seen since 1999. Exports in the country increased by 59.9%, imports by 19.0%, at such a rate Turkey bypassed most countries. After the publication of such data, the country's local currency, the lira, rose by 0.3% and thereby strengthened its position. Last year, due to the coronavirus pandemic, Turkey's GDP, on the contrary, decreased by 10.4%.

The largest contribution to economic growth was made by the service sector, having risen by 45.8%, industry - 40.5%, ancillary services - 32.4%, information and communication - 25.3%, social services - 8.5%. Also, the record GDP growth was influenced by the increased consumption of household goods in comparison with the previous year.