Cevdet Yılmaz evaluates second-quarter growth
Second-quarter GDP results, prepared based on data from the Turkish Statistical Institute, revealed that the economy continues its uninterrupted growth trend despite global crises.
Vice President Cevdet Yılmaz announced that the Turkish economy grew by an annual rate of 2.3 percent in the second quarter of 2026. Emphasizing that macroeconomic stability has been preserved despite global and regional risks, Yılmaz reported that the uninterrupted growth streak continues.
Uninterrupted Growth Streak
The Turkish economy continues to maintain its growth performance without interruption for the past 24 quarters. The annual rate of 2.3 percent recorded in the second quarter of 2026 demonstrates that the country preserves its economic dynamism.
Second Quarter Data
According to seasonally and calendar-adjusted data, the economy grew by 1.1 percent compared to the previous quarter. Meanwhile, annualized Gross Domestic Product reached the level of 1.71 trillion dollars during this period.
Sectoral Developments
Examined on a sectoral basis, the agricultural sector grew by 13.3 percent, the services sector by 1.6 percent, and the industrial sector by 2.4 percent. Construction activities entered a normalization process with the completion of reconstruction works in the earthquake zone.
Consumption and Foreign Trade
Total consumption expenditures recorded an increase of 2.7 percent. Net exports of goods and services succeeded in contributing a positive 0.6 percentage points to the growth figures in the second quarter.
First Half of the Year and Expectations
A total growth of 2.5 percent was achieved in the first six-month period of the year. On the other hand, growth for the entirety of 2026 is expected to remain slightly below the Medium-Term Program targets.