Türkiye’s economy grows 2.3 percent in second quarter
ISTANBUL
Türkiye’s economy grew 2.3 percent year-on-year in the second quarter of 2026, official data showed on Aug. 31.
Gross domestic product (GDP) expanded 1.1 percent from the previous quarter on a seasonally and calendar-adjusted basis, according to the Turkish Statistical Institute (TÜİK).
In the first quarter, the economy expanded by 2.6 percent annually and 0.3 percent quarter-on-quarter.
Agriculture, forestry and fishing recorded the strongest annual growth among economic activities, with value added rising 13.3 percent in the April-June period.
Information and communication grew 8.6 percent, followed by public administration, education, human health and social work activities at 4 percent.
Value added increased 3.2 percent in other service activities, 2.4 percent in industry and 2.1 percent each in financial and insurance activities and real estate. The manufacturing sector’s output rose by 2.4 percent after contracting 1.3 percent in the first quarter.
Professional, administrative and support services expanded 2 percent, while trade, transportation, accommodation and food services posted growth of 0.5 percent.
Construction was the only major sector to contract, falling 1.9 percent from a year earlier.
At current prices, Türkiye’s GDP rose 36 percent year-on-year to 19.87 trillion Turkish liras ($438.35 billion) in the second quarter.
Household final consumption expenditure increased 3.5 percent annually in volume terms, after rising 5.1 percent year-on-year in the first quarter of 2026.
Household consumption accounted for 54.8 percent of GDP in the second quarter, compared with 57.6 percent in the first quarter.
Government consumption, which increased 0.8 percent in the first quarter, declined 1.8 percent, while gross fixed capital formation, a measure of investment, grew 0.6 percent from the same period last year, after rising 3.1 percent in the January-March period.
Compensation of employees rose 36.7 percent year-on-year in the second quarter of 2026, while net operating surplus/mixed income increased 38.7 percent compared with the same period a year earlier.
The share of compensation of employees in gross value added at current prices stood at 38.1 percent in the second quarter of 2026, slightly down from 38.3 percent a year earlier. Meanwhile, the share of net operating surplus/mixed income edged up to 41.6 percent from 41.3 percent in the same quarter of the previous year.
Exports of goods and services fell 3.4 percent year-on-year, while imports decreased by a sharper 6.4 percent.
Separately, TÜİK’s independent annual GDP calculations showed that the Turkish economy expanded 3.7 percent in 2025.
GDP at current prices increased 41.6 percent to 63.24 trillion liras last year, while GDP per capita stood at 714,682 liras, or $18,103.
Manufacturing accounted for the largest share of GDP at 15.6 percent, followed by wholesale and retail trade and motor vehicle repairs at 12.9 percent, and real estate activities at 9.2 percent.
Construction posted the strongest sectoral growth in 2025, rising 11 percent, followed by arts, entertainment and recreation at 8.5 percent, and information and communication at 7.9 percent.
Agriculture, forestry and fishing contracted 8.5 percent, while water supply, sewerage and waste management declined 5 percent.
Household consumption grew 4.2 percent in 2025 and accounted for 54.4 percent of GDP. Gross fixed capital formation increased 7.3 percent, while government consumption rose 1 percent.