Turkey’s economy grows 0.9 percent in 2019: statistical institute

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(PHOTO: AFP)

Turkey’s economy posted a growth rate of 0.9 percent in 2019, according to the Turkish Statistical Institute (TurkStat), the Anadolu news agency reported.

The country’s gross domestic product (GDP) at current prices stood at TL 4.28 trillion (some $755 billion) last year, TurkStat said.

The data showed that GDP per capita reached TL 51,834 ($9,127) in 2019 at current prices.

On a sectoral basis, the value added by the agricultural sector rose 3.3 percent in 2019, compared to 2018.

The services and industrial sectors enjoyed annual rises of 1.5 percent and 0.2 percent, respectively, while the construction sector dropped 8.6 percent.

A panel of 17 economists polled by the agency on Thursday expected Turkey’s 2019 economic growth rate to be 0.6 percent.

TurkStat data showed that in the last quarter of the year the economy expanded 6 percent year-on-year.

The GDP was TL 1.2 trillion ($205.7 billion) in the fourth quarter, it said.

The US dollar/Turkish lira exchange rate was 5.68 on average in 2019.

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