Turkish Economy Grew by 2.3 Percent in the Second Quarter of 2026
The Turkish economy grew by 2.3 percent year-on-year in the second quarter of 2026, while Treasury and Finance Minister Mehmet Şimşek emphasized balanced growth.
According to the second quarter 2026 data released by the Turkish Statistical Institute, the Turkish economy recorded a year-on-year growth rate of 2.3 percent. Treasury and Finance Minister Mehmet Şimşek evaluated the economic indicators, stating that despite challenging global conditions, balanced growth was achieved with the support of domestic and external demand.
Gross Domestic Product and General Growth Rates
The Turkish economy recorded a year-on-year growth of 2.3 percent in the second quarter of 2026. The seasonally and calendar-adjusted GDP chained volume index increased by 1.1 percent compared to the previous quarter.
In the second quarter, Gross Domestic Product at current prices stood at 19 trillion 869 billion 47 million Turkish Liras, and 438 billion 347 million in US dollar terms.
Sectoral Developments and Growth Distribution
Examined on a sectoral basis, the agriculture, forestry, and fishing sector grew by 13.3 percent. Information and communication activities recorded an increase of 8.6 percent, and the industrial sector grew by 2.4 percent.
During the same period, the construction sector decreased by 1.9 percent, ranking among the declining sectors.
Expenditure-Side Components and Foreign Trade
Household final consumption expenditures by expenditure method increased by 3.5 percent, and gross fixed capital formation increased by 0.6 percent.
Government final consumption expenditures decreased by 1.8 percent, exports of goods and services by 3.4 percent, and imports by 6.4 percent.
Labor Payments and Share
In the second quarter, labor payments showed an increase of 36.7 percent. During this period, the share of labor payments in Gross Value Added was calculated as 38.1 percent.
Balanced Growth Assessment by Minister Şimşek
Treasury and Finance Minister Mehmet Şimşek stated that despite challenging global conditions and geopolitical tensions, balanced growth was achieved in the second quarter with the support of domestic and external demand.
Stating that annualized national income exceeded 1.7 trillion dollars, Minister Şimşek noted that the annualized current account deficit materialized at the level of 38.9 billion dollars.
Debt Ratios and Future Period Targets
While it was stated that the ratio of gross external debt stock to national income remained horizontal at 31.6 percent, the ratio of total debt to national income stayed below international averages.
It was reported that a roadmap for price stability, technological transformation, and permanent welfare increase will be laid out with the Medium-Term Program for the 2027-2029 period.