Bolat made a written statement regarding the Gross Domestic Product (GDP) data for 2025, announced by the Turkish Statistical Institute (TUIK).
Stating that the Turkish economy showed a strong performance by growing 3.6 percent last year, above the 3.3 percent target in the Medium Term Program (MTP), Bolat stated that the GSHY increased by 3.4 percent in the fourth quarter of last year and that the growth has continued uninterruptedly for 22 quarters.
Bolat pointed out that last year’s national income per capita was at the highest level of all time, with 18 thousand 40 dollars, and said, “The ratio of the current account deficit to national income maintained its balanced course at 1.6 percent, below the historical average. Investment expenditures increased by 7 percent in 2025, contributing 1.8 points to growth. Thus, investments continued to support growth uninterruptedly for 5 quarters. In 2025, the value added increase will be 2.9 percent in the industrial sector.” and 3.8 percent in the services sector. While services were the sector that contributed the most to growth, the annual growth in the construction sector was 10.8 percent. The value added in the agricultural sector decreased by 8.8 percent, first due to the frost disaster and then due to the extreme drought, together with the efficiency-oriented transformation in production and structural reforms to increase competitiveness, we will increase the potential growth rate of the Turkish economy. made his assessment.
“WE BECAME THE SECOND FASTEST GROWING COUNTRY”
Reminding that the Turkish economy, which maintained its growth performance even during the epidemic period, recorded a growth of 1.7 percent in 2020, 11.8 percent in 2021, 5 percent in 2023 and 3.3 percent in 2024, Bolat reminded that the growth rate was 2.5 percent in the first quarter of last year, 4.7 percent in the second quarter and 3.8 percent in the third quarter. Referring to the fact that the growth rate was recorded as 3.6 percent last year, Bolat said, “With this growth rate, we became the second fastest growing country, together with Poland, among the OECD countries whose data were announced.” he said.
Bolat pointed out that the GDP chained volume index, adjusted for seasonal and calendar effects, increased by 0.4 percent compared to the previous quarter, and emphasized that the GDP at current prices, which was 925 billion dollars in 2022 and 1 trillion 358 billion dollars in 2024, broke a record by rising to 1 trillion 596 billion dollars in 2025.
Underlining that last year, the highest contribution to growth came from private consumption and that private consumption contributed 2.8 percentage points to growth, Bolat stated that the contribution of the external balance to growth was minus 1.1 percentage points and the contribution of public sector expenditures to growth was 0.1 percentage points. Stating that the data confirms the resilience of the economy in a period where challenging conditions continue on a global scale, Bolat said:
“With the contribution of the activities we carry out as the Ministry, the moderate outlook in the current account balance is maintained. We will continue our efforts to achieve a performance above 410 billion dollars, which is the 2026 year-end target in exports of goods and services, and to maintain and strengthen the growth momentum.”
