Turkey surpasses Eurozone in GDP growth

[qamar1990]

We never had double digits growth since AKP...

akp made turkey a real economic power even worth mentioning.

 

[Hyde]

lol Turkey has always been posting higher growth comparing to rest of EU.

That is due to several reasons one being all the developed nations are already developed and the speed of their growth is very slow... whereas the developing nations has the potential to develop faster as they have more areas to focus upon. Turkey is doing a great job in this regard since last 10 years or so

 

[BronzePlaque]

By 2023 Turkey is predicted to have a GDP no larger than $1.9 to $2.0 trillion. Also, the Turkish economy is likely to NEVER reach economic parity with Germany. At-least no in our life time. By 2018 the German economy is expected to grow to $4.4 trillion, the UK and French economies at $3.2 and $3.4 trillion while the Turkish will lag WAY behind at $1.2 trillion.

Turkey is nothing and always will be a nothing, even the Ottoman Empire was nothing. Western Europe and Asian cultures have long forgot the Ottomans - only empires like Alexanders, Romes and the British Empire have stood the test of time (from an historic point of view).

Lol...what a rant...It must be refreshing for you that, no one gives a sh!t about your unworthy opinion..You go and produce some cheap toys bro and leave such serious discussions to adults

 

[usernameless]

Turkey has no place in Europe. The European Union is for white, rich, Christian countries like the UK, Germany and France. Not brown, poor, Muslim countries like Turkey.

The Europeans will NEVER let Turkey in the EU...

But Turkey is not catching up. According to the IMF, by 2018 the UK will have a population of 66 million and an economy of $3.2 trillion while Turkey will have a population of 78 million and an economy of $1.2 trillion. The Europeans are still WAY more powerful and WAY more wealthy than the Turks.

FYI, those brown, poor muslims in Turkey are equally wealthy or richer per capita compared to many (mostly eastern WHITE) European countries.

Give me the source for that statement. Besides, European countries almost certainly have reached their maximum potential, hence they can't grow much anymore, same applies to Japan. Besides European countries are facing problems regarding immigrants, aging population, lack of young people. These factors will influence their growth in the future. Turkey on the other hand is like a small snowball slowly growing bigger as it rolls downwards from a mountain. When Turkey has reached its maximum potential it will be in the same league with France, Germany, Russia and UK. It just needs time.

 

[Alienware]

True but you need to consider that Turkish citizens will have a lifestyle more akin to a total GDP of 1.6 trillion dollars since things like food, transport and housing costs are cheaper in Turkey than in the UK.

The optimistic point with Turkey is that it is expected to grow at 4-5% a year till 2030, while a country like the UK will have around 1-2% a year. So by 2030, if the predictions are correct, then Turkey is not be too far off the living standards than a country like the UK by 2030.

The other major point that everyone forgets is the "boost" to GDP that Western countries get by being "top-dog". When they are no longer on top, and it will happen - only question is when, their living standards will no longer get this "boost".

Well according to the IMF the UK economy in 2015 will be approximately $3.2 trillion with a growth rate of 2.5% - 2.9% while the Turkish economy will be $1.2 trillion with a growth rate of 4-5%. Remember however, that 2.5% of 3.2 trillion is a far larger number than 5% of 1.2 trillion.... therefore in absolute terms, economies like the UK, France and Germany will grow much faster than economies like Turkey.

 

[-SINAN-]

Turkey grows 4.4 percent in Q3

The Turkish economy continues to see a sustained growth over the last four years (sixteen quarters) with a 4.4 percent growth in the third quarter of 2013 compared to the same period last year, Turkey's statistical authority (TurkStat) said on Tuesday.

In the September to December 2013 period, the Gross Domestic Product (GDP) increased by 4.4 percent in constant prices, compared to the same quarter of 2012 and consistently reached 33.33 billion Turkish Liras.

Also, the calendar adjusted GDP in the fourth quarter of 2013 increased by 4.1 percent compared to the same quarter last year.

Seasonally and calendar adjusted GDP was 0.9 percent compared to the previous quarter.

According to the AA Finace Expectation Survey, economists anticipated the growth rate for the third quarter of 2013 to be 4.2 per cent.

Turkey grows 4.4 percent in Q3 | Economy | World Bulletin

 

[-SINAN-]

Turkish GDP grows double digits, fastest-growing in G20

Turkey became the fastest-growing economy among G20 countries after clocking in with 11.1 percent growth in the third quarter of 2017, the Turkish Statistical Institute (TurkStat) reported on Monday.

Monday’s report makes the country's growth the fastest among the world’s 20 largest economies and marks the third consecutive quarter where annual expansion topped 5 percent. China came in second with 6.8 percent and India was third with 6.3 percent among all G20 countries

The figure easily exceeded analysts’ consensus estimates of 9.2 percent, the fastest quarter growth rate since 11.4 percent in the first quarter of 2011.

Turkey’s economy grew 5.2 percent in the first quarter of this year and 5.1 percent in the second quarter, according to TurkStat.

Turkish officials previously said the country would achieve annual economic growth of 6 to 7 percent by the end of the year.

Performance in the third quarter pushed up cumulative GDP, reaching 827.2 billion Turkish liras ($216 billion) in current prices, with GDP annualized at $844 billion, TurkStat added.

The growth was triggered by domestic demand, including accelerated investment support by the government and strong contributions from exports.



'Staggering growth'

“Turkey -- with staggering 11.3 percent year-on-year real GDP growth in Q3 -- got ministers talking about full-year growth of over 7 percent. Various government stimulus programs felt in full force,” London-based economist Timothy Ash said.

Growth was driven by all main sectors in the third quarter, with the agricultural sector expanding by 2.8 percent, the manufacturing industry by 14.8 percent, the construction sector by 18.7 percent, and the services sector by 20.7 percent, TurkStat added.

Exports grew 17.2 percent while imports of goods and services rose 14.5 percent in the third quarter of 2017 compared with the same quarter of the previous year.

Capital formation, including investments, came out strong for both consumption and machinery, up 12.4 percent and 15.3 percent, respectively.

Other components also grew, with domestic demand up by 11.7 percent and government consumption up 2.8 percent.

The Turkish lira strengthened after the report was published on Monday. It was trading 0.11 percent higher at 3.8310 per dollar at 11:00 a.m. in Istanbul.

http://aa.com.tr/en/economy/turkish-gdp-grows-double-digits-fastest-growing-in-g20/1000833

 

[Georg]

just to get that in the right perspective...

Turkeys GDP will reach $844billion at the end of the year or end of 3. quater?

in the 3. quater it climed 11.4% ...with the third quater worth of $216billion ... means it growed $22billion real worth...



Germany GDP groth 2017
1. quater 801billion Euro +1,0% ($945billion)
2. quater 813billion Euro +1.5% ($959billion)
3. quater 824billion Euro +1.4% ($972billion)
(the german numbers are sesional and calender corrected)

the third quater in Germany groth was 1.4% of $972billion or a real groth of $13.4billion and that from a economy with roughly the same population numbers... Germany s GDP in one quater is as high or higher than the yearly GDP in Turkey... and remember it is always more easy to grow fast if you have low numbers to start with... the different between a "record braking booming" and a just ok doing economy is only $8.6billion in real money... thats the different between playing with % and real numbers... real numbers are less spctacular but more truly

 

[-SINAN-]

just to get that in the right perspective...

Turkeys GDP will reach $844billion at the end of the year or end of 3. quater?

in the 3. quater it climed 11.4% ...with the third quater worth of $216billion ... means it growed $22billion real worth...



Germany GDP groth 2017
1. quater 801billion Euro +1,0% ($945billion)
2. quater 813billion Euro +1.5% ($959billion)
3. quater 824billion Euro +1.4% ($972billion)
(the german numbers are sesional and calender corrected)

the third quater in Germany groth was 1.4% of $972billion or a real groth of $13.4billion and that from a economy with roughly the same population numbers... Germany s GDP in one quater is as high or higher than the yearly GDP in Turkey... and remember it is always more easy to grow fast if you have low numbers to start with... the different between a "record braking booming" and a just ok doing economy is only $8.6billion in real money... thats the different between playing with % and real numbers... real numbers are less spctacular but more truly

Is there any point about what you are trying to say ?

 

[Georg]

your spectacular booing inst so impressive as this report trys to claim... that is the point

 

[-SINAN-]

your spectacular booing inst so impressive as this report trys to claim... that is the point

I don't think any development about Turkey can impress you in the first place, given your negative view about Turkey.

 

[PAKISTANFOREVER]

Turkish GDP grows double digits, fastest-growing in G20

Turkey became the fastest-growing economy among G20 countries after clocking in with 11.1 percent growth in the third quarter of 2017, the Turkish Statistical Institute (TurkStat) reported on Monday.

Monday’s report makes the country's growth the fastest among the world’s 20 largest economies and marks the third consecutive quarter where annual expansion topped 5 percent. China came in second with 6.8 percent and India was third with 6.3 percent among all G20 countries

The figure easily exceeded analysts’ consensus estimates of 9.2 percent, the fastest quarter growth rate since 11.4 percent in the first quarter of 2011.

Turkey’s economy grew 5.2 percent in the first quarter of this year and 5.1 percent in the second quarter, according to TurkStat.

Turkish officials previously said the country would achieve annual economic growth of 6 to 7 percent by the end of the year.

Performance in the third quarter pushed up cumulative GDP, reaching 827.2 billion Turkish liras ($216 billion) in current prices, with GDP annualized at $844 billion, TurkStat added.

The growth was triggered by domestic demand, including accelerated investment support by the government and strong contributions from exports.



'Staggering growth'

“Turkey -- with staggering 11.3 percent year-on-year real GDP growth in Q3 -- got ministers talking about full-year growth of over 7 percent. Various government stimulus programs felt in full force,” London-based economist Timothy Ash said.

Growth was driven by all main sectors in the third quarter, with the agricultural sector expanding by 2.8 percent, the manufacturing industry by 14.8 percent, the construction sector by 18.7 percent, and the services sector by 20.7 percent, TurkStat added.

Exports grew 17.2 percent while imports of goods and services rose 14.5 percent in the third quarter of 2017 compared with the same quarter of the previous year.

Capital formation, including investments, came out strong for both consumption and machinery, up 12.4 percent and 15.3 percent, respectively.

Other components also grew, with domestic demand up by 11.7 percent and government consumption up 2.8 percent.

The Turkish lira strengthened after the report was published on Monday. It was trading 0.11 percent higher at 3.8310 per dollar at 11:00 a.m. in Istanbul.

http://aa.com.tr/en/economy/turkish-gdp-grows-double-digits-fastest-growing-in-g20/1000833

I've been saying for MANY years that Pakistan needs to Carbon copy Turkey's economic, scientific and technological model. If we did then Pakistan would become a developed nation. Since 2000, Turkey's economic, technological, scientific and overal national progress has been nothing short of a miracle. We need to emulate this somehow. Turkey is now a defacto developed nation on par with the West. That is the ground reality which I saw in my recent visit to Istanbul in 2016. Our relationship with Turkey although very close needs to be elevated to the same level as we have with China. That is a must.

 

[Deliorman]

I've been saying for MANY years that Pakistan needs to Carbon copy Turkey's economic, scientific and technological model. If we did then Pakistan would become a developed nation. Since 2000, Turkey's economic, technological, scientific and overal national progress has been nothing short of a miracle. We need to emulate this somehow. Turkey is now a defacto developed nation on par with the West. That is the ground reality which I saw in my recent visit to Istanbul in 2016. Our relationship with Turkey although very close needs to be elevated to the same level as we have with China. That is a must.

Turkey is still pretty far away from being a developed country and be on par with the countries in Western Europe. Istanbul and many other places (mainly in Western Turkey where most of the industry is located) are pretty developed but many places in the eastern parts of the country are as poor as Pakistan. Turkey is still far from being an industrial and economic powerhouse.

 

[UKBengali]

just to get that in the right perspective...

Turkeys GDP will reach $844billion at the end of the year or end of 3. quater?

in the 3. quater it climed 11.4% ...with the third quater worth of $216billion ... means it growed $22billion real worth...



Germany GDP groth 2017
1. quater 801billion Euro +1,0% ($945billion)
2. quater 813billion Euro +1.5% ($959billion)
3. quater 824billion Euro +1.4% ($972billion)
(the german numbers are sesional and calender corrected)

the third quater in Germany groth was 1.4% of $972billion or a real groth of $13.4billion and that from a economy with roughly the same population numbers... Germany s GDP in one quater is as high or higher than the yearly GDP in Turkey... and remember it is always more easy to grow fast if you have low numbers to start with... the different between a "record braking booming" and a just ok doing economy is only $8.6billion in real money... thats the different between playing with % and real numbers... real numbers are less spctacular but more truly

Dude you are wrong.

10% growth for a middle-income country like Turkey is spectacular. If Turkey grows at the rates it has been doing since 2010, it will catch up with German GDP/capita by 2030. Remember that a dollar goes much further in Turkey than in Germany and so we will see huge appreciation of the Turkish currency over the next 5-10 years.

I will even go and say that Turkey may even match Germany in total economic output by 2030 at the rate they are growing - around 2% quicker than IMF forecast of average growth of 4%. Turks are at roughly half the living standards of Germans currently and so 13 years is enough time for them to get to 80% of Germany output and their population will be 10-15 million more than Germany's by then.

 

[PAKISTANFOREVER]

Turkey is still pretty far away from being a developed country and be on par with the countries in Western Europe. Istanbul and many other places (mainly in Western Turkey where most of the industry is located) are pretty developed but many places in the eastern parts of the country are as poor as Pakistan. Turkey is still far from being an industrial and economic powerhouse.

Yes but it will be a developed country within the next 10-15 years. Lool at how far Turkey has come since 2000.