Turkish Economy Recorded 2.5 Percent Growth in the First Quarter of 2026
The growth performance of the Turkish economy in the first quarter of 2026 has become clear, with household consumption acting as the main driver of economic expansion.
The Turkish economy grew by 2.5 percent in the first quarter of 2026 compared to the same period of the previous year, while the increase compared to the previous quarter stood at 0.1 percent.
Economic Growth and Market Expectations
While the Turkish economy recorded a 2.5 percent growth in the first quarter of 2026, the economy grew by 0.1 percent compared to the previous quarter.
Institutions participating in the Bloomberg HT survey expected annual growth to be 2.7 percent and quarterly growth to be 0.4 percent.
Expenditures and Consumption Items
Final consumption expenditures of resident households increased by 4.8 percent as a chained volume index in the first quarter.
Government final consumption expenditures rose by 2.1 percent and gross fixed capital formation increased by 3 percent.
Exports and Imports Developments
Exports of goods and services increased by 12.7 percent as a chained volume index in the first quarter of 2026 compared to the same quarter of the previous year.
In the same period, imports of goods and services showed a decrease of 2 percent, and net exports pulled growth down by 2.5 points.
Sectoral and Item-Based Contributions to Growth
According to Bloomberg HT calculations, the highest contribution to growth this quarter came from household consumption with 3.4 points.
Contributions of 0.8 points from investments, 0.5 points from inventories, and 0.2 points from public consumption were provided.
Status of Sectoral Activities
When the activities forming the GDP were examined, a notable contraction of 0.8 percent was experienced in the industrial sector.
Information and communication activities grew by 9.5 percent, other services by 5.2 percent, and the agricultural sector by 4.6 percent.
Growth Rates in Other Sectors
The trade, transportation, accommodation, and food service activities sector recorded a growth of 3.7 percent in the first quarter of the year.
Financial and insurance activities grew by 3.5 percent, the construction sector by 3.2 percent, and real estate activities by 3 percent.
Labor Payments and Share Distribution
Labor payments increased by 35.9 percent in the first quarter of 2026 compared to the same quarter of the previous year.
Net operating surplus and mixed income showed an increase of 34.4 percent in the same period.
Shares Within Gross Value Added
The share of labor payments in gross value added at current prices was 42.7 percent, just as it was in the first quarter of last year.
The share of net operating surplus and mixed income declined to 35.8 percent from the level of 36.3 percent in the same period of last year.