The Turkish economy recorded 7.6 percent growth in the second quarter of the year. Sharing his assessments on the matter, MÜSİAD President Mahmut Asmalı said, "We consider it highly valuable that the Turkish economy has recorded growth at a rate of 7.6 percent".
In his statement, President Asmalı made the following remarks:
The Turkish economy, which displayed a highly successful performance with 7.5 percent in the first quarter of the year, also grew by 7.6 percent in the second quarter, managing to sustain both its production and its export capability. Thus, in this period in which China grew by 0.4 percent, the USA by 1.7 percent, the United Kingdom by 2.9 percent and the Euro Area by 3.9 percent, our country ranked 2nd in the G20 and once again decoupled positively within the global economy.
In addition to domestic demand, which contributed 13.9 points to the growth in question, the positive effects of net external demand at 2.7 points and of investments at 1.2 points have been a highly important indicator in terms of showing that the Turkish economy has recorded homogeneous growth. It is a noteworthy development that investments, whose contribution to growth remained rather limited at 0.3 points in the first quarter, gained speed as of the second quarter. In this period, the 9.1 percent expansion recorded in the manufacturing industry and the 18.1 percent increase observed in the services sector also made important contributions to the strong course of growth. As for the contractions observed in the construction and agriculture sectors, we expect them to turn positive in the second half of the year.
In the second quarter of the year, in which the global economy experienced a serious tremor with the Russia-Ukraine War before it had fully overcome the Covid-19 shock, we consider it highly valuable that the Turkish economy has recorded growth at a rate of 7.6 percent. Economic activity, in which a relative slowdown has been observed in the third quarter of the year, is gaining momentum together with the latest measures taken by the economic administration. In this context, we anticipate that the positive growth process in the Turkish economy will continue in the coming period as well and that institutions such as the OECD, the World Bank and the IMF will be obliged to revise their growth expectations for our country upwards.