In the statement made by the Independent Industrialists and Businessmen Association (MÜSİAD), it was stated that the economy of Türkiye demonstrated its strong and stable structure with its growth rate for the third quarter of the year.
The written statement made by MÜSİAD is as follows:
The year 2021 is about to be left behind as a “year of testing” for the economy of Türkiye, as it has been for all the countries of the world. While many countries have been waging what is almost a “struggle for survival” after Covid-19, the economy of Türkiye, on the other hand, has found the opportunity to demonstrate its strong and stable structure to the whole world once again with a growth rate of %7.4.
This rate of %7.4 shows that the main locomotives of the economy of Türkiye have now fully settled onto the track of positive growth. The uninterrupted positive growth of our economy for 5 quarters starting from the 3rd quarter of 2020, when post-pandemic normalization began, and the growth rate for the first 3 quarters of 2021 reaching %12.2, are highly important in terms of signalling sustainable growth.
When we look at the average growth rate of the G20 countries, the successful performance of the economy of Türkiye is understood more clearly. In this period, in which the United Kingdom was able to grow by %6.6, China and the USA by %4.9, the Euro Area by %3.7, Germany by %2.5 and Japan by only %1.4, Türkiye's place at the summit of the G20 with %7.4 deserves the appreciation of everyone, partisan/impartial alike.
Following the consecutive export records, the contribution of net foreign demand to growth by 6.8 points has not been surprising for anyone. The contribution of exports being this high within the growth of %7.4 is also of a nature that proves the opposite of the negative perceptions that the economy of Türkiye grows only on a consumption basis. With the export wind in growth continuing in the last quarter as well, and with the effect of the vitality in domestic demand and of the investments that we believe will gain momentum with interest rate cuts, a double-digit growth for 2021 as a whole will not be a surprise for us.