WE BELIEVE THAT OUR NATIONAL ECONOMY WILL SUSTAIN ITS GROWTH PROCESS IN THE COMING PERIOD AS WELL

The Turkish Statistical Institute announced the gross domestic product (GDP) results for the third quarter of this year (July-September). Accordingly, the Turkish economy recorded 3.9 percent growth in the third quarter of the year.

Making assessments on the matter, MÜSİAD President Mahmut Asmalı said, "We wholeheartedly believe that the production, export and employment oriented growth process of our national economy will continue in the coming period as well."

President Asmalı made the following statements in his remarks:

"The Turkish economy grew by 3.9 percent in the 3rd quarter of 2022, sustaining its positive growth trend for the 9th consecutive quarter. Despite the elevated geopolitical risks and the slowing global economy, the Turkish economy has managed to grow above the world and G20 averages thanks to its dynamic and flexible structure.

The Russia-Ukraine War, which broke out at a time when the problems experienced in supply chains after the pandemic had not yet been fully eliminated, has affected the global economic conjuncture in its recovery phase quite negatively. In such a challenging environment, in which recession and stagflation scenarios are being discussed in developed countries, the continued growth of our economy is proof of how much Türkiye has strengthened its immunity against external shocks.

Ranking 4th, after Saudi Arabia, Indonesia and Mexico, among the G20 countries whose data for the 3rd quarter have been announced, Türkiye shared the same place with China, which grew by 3.9 percent in the same period; and left behind the United Kingdom, which grew by 2.4 percent, the Euro Area, which grew by 2.1 percent, the USA, which grew by 1.8 percent, and Germany, which grew by 1.3 percent.

As MÜSİAD, we wholeheartedly believe that in 2023, which we will enter with this motivation, the Turkish economy will continue to rise on the shoulders of our industrialists; and in this context, that the production, export and employment oriented growth process of our national economy will continue in the coming period as well."