Turkish Economy Grows 7% in Q1 2021

According to the data of the Turkish Statistical Institute (TurkStat), Turkey’s economy has shown a growth rate of 7% in the first quarter of 2021.

Unlike most economies struggling with the effects of Covid-19, Turkey’s economy grew at a larger than expected in the first quarter, outperforming the 6.7% forecast.

Compared with other countries, Turkey’s economic growth overpassed all Organisation for Economic Co-operation and Development (OECD) members and G-20 nations except China.

Minister of Treasury and Finance Lütfi Elvan underlined that “56 percent of the 7 percent growth in the first quarter stemmed from net external demand and investments, which is an indicator of a balanced and healthy growth.”

For more information: Investment Office