30.05.2025 10:41
The Turkish Statistical Institute (TÜİK) has announced the quarterly gross domestic product (GDP) data for the first quarter of this year. Accordingly, the first estimate of GDP for the first quarter of 2025, as a chained volume index, increased by 2.0% compared to the same quarter of the previous year.
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THE CONSTRUCTION SECTOR INCREASED BY 7.3% IN THE FIRST QUARTER OF 2025
When examining the activities that make up GDP; in the first quarter of 2025, compared to the previous year, the chained volume index showed that the total value added of the construction sector increased by 7.3%, information and communication activities by 6.1%, other service activities by 4.7%, professional, administrative and support service activities by 4.0%, real estate activities by 2.4%, taxes on products minus subsidies by 1.8%, services by 1.3%, financial and insurance activities by 0.5%, and public administration, education, human health and social service activities by 0.3%. The agricultural sector decreased by 2.0%, and the industry decreased by 1.8%.
A-Agriculture, forestry and fishing, BCDE-Industry, F-Construction, GHI-Services, J-Information and communication, K-Financial and insurance activities, L-Real estate activities, MN-Professional, administrative and support service activities, OPQ-Public administration, education, human health and social service activities, RST-Other service activities.
The seasonally and calendar-adjusted GDP chained volume index increased by 1.0% compared to the previous quarter. The calendar-adjusted GDP chained volume index increased by 2.7% in the first quarter of 2025 compared to the same quarter of the previous year.
GDP REACHED 12 TRILLION 125 BILLION 173 MILLION TL AT CURRENT PRICES IN THE FIRST QUARTER OF 2025
The Gross Domestic Product (GDP) estimate by production method reached 12 trillion 125 billion 173 million TL in the first quarter of 2025, increasing by 36.7% at current prices compared to the same quarter of the previous year. The value of GDP in the first quarter at current prices was realized as 335 billion 504 million USD.
HOUSEHOLD FINAL CONSUMPTION EXPENDITURES INCREASED BY 2.0% IN THE FIRST QUARTER OF 2025
The final consumption expenditures of resident households increased by 2.0% in the first quarter of 2025 compared to the same quarter of the previous year, as measured by the chained volume index. The government's final consumption expenditures increased by 1.2%, while gross fixed capital formation increased by 2.1%.
EXPORT OF GOODS AND SERVICES DECREASED BY 0.01% IN THE FIRST QUARTER OF 2025, WHILE IMPORTS INCREASED BY 3.0%
The export of goods and services decreased by 0.01% in the first quarter of 2025 compared to the same quarter of the previous year, while imports increased by 3.0%.
LABOR PAYMENTS INCREASED BY 42.9% IN THE FIRST QUARTER OF 2025
Labor payments increased by 42.9% in the first quarter of 2025 compared to the same quarter of the previous year. Net operating surplus/mixed income increased by 31.2%.
THE SHARE OF LABOR PAYMENTS IN GROSS VALUE ADDED WAS 43.7%
The share of labor payments in Gross Value Added at current prices was 41.7% in the first quarter of the previous year, while this rate increased to 43.7% in the first quarter of 2025. The share of net operating surplus/mixed income was 36.4% in the first quarter of the previous year, while it decreased to 35.0% in the first quarter of 2025.
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