Minister Şimşek's GDP Assessment: 2.3 Percent Growth Recorded in the Second Quarter of the Year

In line with the data released by the Turkish Statistical Institute, the Turkish economy grew by 2.3 percent on an annual basis in the second quarter of 2026. Minister of Treasury and Finance Mehmet Şimşek stated that a balanced picture emerged despite challenging global conditions.

Economic Growth in the Second Quarter

According to the data of the Turkish Statistical Institute, the Turkish economy grew by 1.1 percent on a quarterly basis and 2.3 percent on an annual basis in the second quarter of 2026. With these announced results, the annualised national income surpassed the 1.7 trillion dollar threshold.

Sectoral Developments and Industry

Supported by the positive outlook observed in technology-intensive sectors, industrial value added recorded an annual increase of 2.4 percent. Meanwhile, the agricultural sector continued its strong growth of 13.3 percent during this period.

Demand Structure and Foreign Trade

In the second quarter, private consumption expenditures increased by 3.5 percent, while investments grew by 0.6 percent. With net external demand making a positive contribution to growth, a balanced composition of domestic and external demand was achieved.

Current Account Deficit and Debt Indicators

While the positive trend in budget performance continued, the ratio of the annualised current account deficit to national income remained at 2.3 percent, preserving a sustainable trajectory. As of the second quarter, the ratio of the gross external debt stock to national income remained flat at 31.6 percent.

Future Period Expectations

Minister Şimşek emphasised that the strengthening macroeconomic fundamentals of the economy increase resilience against potential shocks. Thanks to the progress in the disinflation process and supportive global conditions, growth is projected to increase gradually in the upcoming period.