Türkiye’s economy grows 4% in Q1

ANKARA

Türkiye’s economy rose 4% year-on-year in the first quarter of 2023, beating market forecast, according to data released on Wednesday.

Economists had expected Turkiye’s growth to be 3% on an annual basis in January-March.

The main reading followed a 3.5% annual growth in the final quarter of 2022.

Meanwhile, the GDP at current prices increased 84.4% to reach 4.63 trillion Turkish liras ($245.46 billion), Turkstat data showed.

On a quarterly basis, Turkish economy grew 0.3% in the January-March period, slowing from 0.9% in October-December 2022.

• GDP
• Gross domestic product
• Turkiye