Turkish economy expands by 5.7% in Q1

By Gokhan Ergocun

ISTANBUL (AA) – Türkiye’s economy has grown 5.7% in the first quarter of 2024, on a yearly basis, the country's statistical office TurkStat revealed on Friday.

The country's gross domestic product (GDP) reached 8.8 trillion Turkish liras ($285.57 billion) in the January-March period, the statistical institute said.

"When the activities which constitute gross domestic product were analyzed; the value added increased by 11.1% in construction, 5.5% in information and communication," it said.

In the last quarter of 2023, the country's GPD increased by 4%.

An Anadolu survey this week predicted that Türkiye's GDP will increase by 5.9%.