There has been an official explosion in gross national product.

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The Turkish Statistical Institute (TÜİK) announced the 2023 Corporate Sector Accounts data. Accordingly, the GDP increased by 76.8% in 2023 compared to the previous year, reaching 26 trillion 278 billion 895 million 983 thousand TL.

THE SHARE OF NON-FINANCIAL COMPANIES IN 2023 IS 58.3%

Non-financial companies were the sector that contributed the most to the value added created in the total economy. The share of non-financial companies in total value added was 58.3% in 2023. This sector was followed by households and non-profit organizations serving households (NPOs) and the general government.

SAVINGS RATE LAST YEAR WAS 26.6%

The ratio of total gross savings to GDP was 26.6% for the total economy in 2023. This ratio was 15.1% for non-financial companies, 6% for households, 3.5% for financial companies, and 2.1% for the general government. The savings rate, defined as the ratio of household savings to disposable income, was 10.5% in 2022 and decreased to 9.1% in 2023. While the total economy was in a net borrowing position at 5% of GDP in 2022, it remained in a net borrowing position at 3.4% in 2023.