Turkey growth domestic product grows 8.2 percent

  Date posted: 11th of May 2012

Statistics released by the Turkish Statistics Institute (TurkStat) have revealed that gross domestic product (GDP) has grown by 8.2 percent in the third quarter period of July to September this year.

The growth achieved in the third quarter was more than the market expectation of 6.3 percent and represents the eighth quarter in a row in which Turkey has posted impressive growth in their economy.

Turkish Science and Technology Minister Nihat Ergun said: “That much expansion made us the second fastest growing economy worldwide after China in the third quarter. We expect our economy to grow no less than 4 percent next year.”

The latest statistics show that the economic growth rate for the first three quarters of the year combined is measured at 9.6 percent. While countries throughout the world struggle with the economic crisis, it seems there is no stopping the growth.

Economy Minister Zafer Caglayan was also quick to praise the performance of the economy, saying: “Turkey, which has differentiated itself from other world economies with the economic growth performance it has shown in the first two quarters of this year, proved once again its difference by growing beyond expectations in the third quarter. However, that was not a surprise for us or others. This is only making everyone else marvel.”

The continued growth and development of the economy and Turkey as a whole will do wonders for those looking to buy in Turkey. You only have to look at the statistics to know that your investment in  is in safe hands, more and more investors are flocking to Turkey while the prices are still moderately cheap – this will increase in the future as Turkey looks to meet long term aims of becoming a top ten economy in the world by 2023. There is plenty of advantages to be had when investing.

Re investing in Turkey - construction sector is now amongst top 3 revenue generators in the country and underlining growth of the sector outstrips Turkey averages