2011 09 12

Turkish economy grows 8.8% in Q2

Turkey grew 8.8 percent in the second quarter of 2011 compared with the same period of the last year, the Turkish Statistics Institute (TurkStat), announced on Monday.

According to the TurkStat figures, Turkish economy became the second fastest growing economy in the world after China, which recorded a growth of 9.5 percent.

Growth projections were around 7-7.5 percent for the second quarter.

Data released by the TurkStat show that Turkey’s Gross Domestic Product (GDP) in current prices was up 19.2 percent to 318.4 billion liras ($176.8 billion) year-on-year in the April-June period of 2011 while GDP in constant prices grew 8.8 percent to 27.9 billion TL ($15.5 billion).

In the first quarter of 2011, Turkey grew 11 percent, outpacing even China to become the world’s fastest growing economy.

With these figures, Turkey has become the fastest growing economy in Europe ahead of Estonia, which expanded 8.4 percent in the second quarter.



  • Heavy mist in Konya

    Fog blankets Seydisehir town as two hikers are seen on the top of Kupe mountain in Konya, Turkey on December 25, 2015.

  • Burst water pipe forms icy waterfall in Turkey’s Van

    A man takes a selfie as water sprayed meters into the air, freezing to form icicles after the freezing cold in the neighborhood of Muradiye led to the explosion of a water pipeline at the Sarimehmet Dam in Van, Turkey on December 25, 2015.

  • Winter in Turkey’s Bitlis

    A man walks on snow passing by trees of which the branches got frozen Bitlis province of Turkey on December 22, 2015.

  • SpaceX successfully lands its first reusable rocket

    A handout picture made available by SpaceX on 22 December 2015 shows SpaceX's Falcon 9 rocket successfully landing upright at Cape Canaveral Air Force Station, Florida, on 21 December 2015. Private space flight company SpaceX successfully returned a rocket to Earth following a satellite launch on 21 December after two earlier attempts failed.

  • Uganda: Turkish group invests $600mln in economic zone

    Project to generate $4 billion in exports, Turkish ambassador to Uganda says.


  • Safranbolu Houses

    Safranbolu Houses, featured in the UNESCO World Cultural Heritage List, are being restored by the Housing Development Administration of Turkey. 

  • Government Takes Care of Traffic Accident Victims

    The government now covers all medical expenses of those injured in traffic accidents. 

58 million

The number of people using credit cards in Turkey in 2015

  • Investing in Farmers

    Turkey increased agricultural investments in the past 10 years from 1.8 billion TL to 9 billion TL.  

  • Double-lane roads save 1525 lives

    The number of people who were killed in traffic accidents dropped to 4,041 in 2010 from 5,566 in 2000 thanks to 13,500 more kilometers of double-lane roads, which saved 1,525 lives a year on average. 

  • Record Growth in Technology Sector

    The Turkish technology sector grew 19.4% in 2010, closing the year with 17.5 billion TL revenue. 

  • World Leader in Transit Passengers

    Carrying 18 million passengers in the Asia-Europe transit corridor in 2010, Turkey saw the highest increase in transit passenger numbers in the world. 

  • Every student has Internet Access

    Every school in Turkey now has ADSL internet connection.  

  • Public debt ratio lowest in Europe

    The ratio of Turkey’s public debt to national income has dropped to 28.2 percent from 61.4 percent 10 years ago.  

  • Scholarship to Returning Academics

    The Scientific and Technological Research Council of Turkey now offers 3. 250 TL monthly scholarship to returning academics who complete their Ph.Ds abroad. 

  • 5000 more licensed tourist guides

    The number of licensed tourist guides has risen to 12,517 in 2010, from 7,658 eight years ago. 

  • From Electricity Importer to Exporter

    Turkey increased electricity production from 31 thousand to 45 thousand megawatts in ten years and started selling electricity to Georgia, Syria and Greece.