Turkey's GDP rises 7.4% year-on-year in Q3

Total value of goods and services stood at $225.5B in July-Sept

By Tuba Sahin

ANKARA (AA) - Turkey's gross domestic product (GDP) increased 7.4% in the third quarter of 2021 compared to the same period last year, the Turkish Statistical Institute (TurkStat) said on Tuesday.

The total value of goods produced and services provided at current prices stood at 1.9 trillion Turkish liras ($225.5 billion) this July-September, TurkStat said.

The figure, however, was below market forecast as a group of 18 economists polled by Anadolu Agency last week projected the average year-on-year growth of 8.1% in the third quarter.

The economists also estimated that Turkey's annual GDP in 2021 would grow by 10% on average.

Compared to the previous quarter, the country's GDP rose 2.7% in the third quarter.

The Turkish economy grew by 21.7% in the second quarter this year.

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