Türkiye records 2.5% GDP growth in Q1 2026
Türkiye records 2.5% GDP growth in Q1 2026
The Turkish Statistical Institute (TÜİK) has released Gross Domestic Product (GDP) data for the first quarter of 2026. According to the figures, the Turkish economy expanded by 2.5% year-on-year, slightly below the market expectation of 2.7%. On a quarterly basis, GDP increased by 0.1%.
Calendar-adjusted GDP grew by 2.6% compared to the same quarter of the previous year.
Mixed sectoral performance
Based on chain-linked volume indices and year-on-year growth rates, the main economic sectors performed as follows:
- Information and communication: +9.5%
- Other service activities: +5.2%
- Agriculture: +4.6%
- Trade, transportation, accommodation and food services: +3.7%
- Financial and insurance activities: +3.5%
- Construction: +3.2%
- Real estate activities: +3.0%
- Taxes on products less subsidies: +2.0%
- Professional, administrative and support services: +1.9%
- Public administration, education, human health and social services: +1.8%
In contrast, the industrial sector contracted by 0.8%.
Strong increase in nominal GDP
GDP calculated using the production approach increased by 35.7% in current prices year-on-year, reaching TRY 16.999 trillion in the first quarter of 2026.
In US dollar terms, GDP amounted to USD 389.6 billion during the period.
Consumption and investment remain resilient
Household final consumption expenditure increased by 4.8% in chain-linked volume terms compared to the first quarter of 2025.
Government final consumption expenditure rose by 2.1%, while gross fixed capital formation increased by 3.0%.
Significant decline in external trade
During the period, exports of goods and services decreased by 12.7%, while imports declined by 2.0%.
Labour income rises while GDP distribution remains stable
Compensation of employees increased by 35.9% year-on-year, while gross operating surplus/mixed income grew by 34.4%.
The share of labour compensation in gross value added remained stable at 42.7%, while the share of gross operating surplus/mixed income edged down from 36.3% to 35.8%.
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Source : Dünya, June 1st, 2026. Article translated by Advantis Conseils Turquie
