Annual Gross Domestic Product, 2018 (In Turkey)
The preliminary GDP growth rate for 2018, which was published as 2.6% on 11 March 2019, was revised to 2.8% with independent annual GDP.
In 2018, GDP by production approach increased by 19.7% compared to the previous year and reached 3 trillion 724 billion 388 million TRY at current prices. In 2018, manufacturing industry had the largest share with 19.0%. Manufacturing industry was followed by wholesale and retail trade and transport and storage industry with 12.1% and 8.2%, respectively. Services of households as employers had the lowest share in GDP.
Gross domestic product per capita was 45 thousand 750 TRY in 2018
The gross domestic product per capita in 2018 was 45 thousand 750 TRY and 9 thousand 693 USD at current prices.
The shares of industries in GDP at current prices, 2018
Final consumption expenditures of households and non-profit organizations serving households increased by 0.04% in 2018
Final consumption expenditures of households and non-profit organizations serving households increased by 0.04% in 2018 compared to the previous year’s chain linked volume index. The share of household and non-profit organizations serving households consumption expenditures in GDP was 56.7%. Expenditure groups with the highest share in household expenditure were food and non-alcoholic beverages with 21.2%, transportation with 16.4% and housing, water, electricity, gas and other fuels with 14.7%, respectively.
In 2018, the share of government final consumption expenditures in GDP was 14.8%, while the share of fixed capital formation was 29.9%. According to the previous year’s chain linked volume index, final consumption expenditure by the government increased by 6.6%, while gross fixed capital formation decreased by 0.6%.
Exports of goods and services increased by 7.8% while imports decreased by 7.8% in 2018
Exports of goods and services increased by 7.8% while imports of goods and services decreased by 7.8% in 2018 compared to the previous year in chain-linked volume index.
Major components of GDP by expenditure approach, 2018
Compensation of employees increased by 19.2% in 2018
According to GDP by income approach, compensation of employees increased by 19.2%. While gross operating surplus/mixed income increased by 21.6% in 2018 compared to the previous year.
The share of compensation of employees in gross value added was 33.8% in 2018
The share of compensation of employees in total gross value added was 34.4% in 2017; while this ratio was 33.8% in 2018. The share of net operating surplus/mixed income in value added was 49.4% in 2017; while this ratio was 48.7% in 2018.
Share of components of income approach in gross value added, 2017,2018
The next release on this subject will be on September 1, 2020.
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EXPLANATION
Quarterly GDP is provisional according to the methodology of National Accounts. As a result of this the figures are revised with respect to annual, updated and more detailed information as it becomes available. By “Annual Gross Domestic Product, 2018” Press Release, 2017 and 2018 annual and quarterly figures are revised.
Source: TÜİK
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