Turkey GDP 1Q2014

by Eduardo Petazze
In 1Q2014, Turkey's GDP grew by 4.34% Y/Y (+1.70% Q/Q)
Link: Gross Domestic Product, I. Quarter: January-March, 2014

Summary
Annual data and 2014 outlook
1998 prices
2009
2010
2011
2012
2013
2014
Own estimate
Y/Y
2009
2010
2011
2012
2013
2014
Own estimate

Agri.
Mining
9,767,969 759,220
9,998,745 795,179
10,604,053 826,026
10,935,277 832,457
11,276,485 803,243
11,838,168 834,603
Agri.
3.55%
2.36%
6.05%
3.12%
3.12%
4.98%

Mining
-6.72%
4.74%
3.88%
0.78%
-3.51%
3.90%

Mfg
22,273,917
25,355,340
27,890,450
28,370,054
29,446,351
30,723,927
Mfg
-7.25%
13.83%
10.00%
1.72%
3.79%
4.34%

Electr.
2,162,378
2,316,368
2,514,967
2,597,279
2,638,453
2,732,811

Constr.
5,067,196
5,996,258
6,688,257
6,726,224
7,202,169
7,548,717

Services
56,522,331
60,838,938
66,167,554
67,853,932
71,502,925
75,024,229

Electr.
-3.54%
7.12%
8.57%
3.27%
1.59%
3.58%

Constr.
-16.12%
18.33%
11.54%
0.57%
7.08%
4.81%

Services
-1.81%
7.64%
8.76%
2.55%
5.38%
4.92%

FISIM
7,429,415
8,323,627
9,359,556
9,675,179
10,879,822
12,107,324
FISIM
9.69%
12.04%
12.45%
3.37%
12.45%
11.28%

Net tax
7,879,518
8,908,442
9,842,973
9,984,977
10,398,662
10,821,756

GDP
97,003,114
105,885,644
115,174,724
117,625,021
122,388,466
127,456,009

Net tax
-8.21%
13.06%
10.49%
1.44%
4.14%
4.07%

GDP
-4.83%
9.16%
8.77%
2.13%
4.05%
4.14%

Private
68,597,603
73,174,350
78,796,580
78,425,017
82,068,957
84,340,929

Govt.
11,105,788
11,325,193
11,854,890
12,583,586
13,331,685
14,363,939

Private
-2.28%
6.67%
7.68%
-0.47%
4.65%
2.77%

Govt.
7.78%
1.98%
4.68%
6.15%
5.95%
7.74%

GFCF
19,358,027
25,270,576
29,826,287
29,021,682
30,273,811
30,430,836
GFCF
-19.05%
30.54%
18.03%
-2.70%
4.31%
0.52%

Stocks
-2,140,473
281,357
21,150
-1,698,793
169,165
-661,479

Exports
24,660,528
25,500,932
27,509,654
31,997,795
32,039,210
35,328,071

Imports
24,578,358
29,666,764
32,833,837
32,704,266
35,494,361
36,303,595

Exports
-5.04%
3.41%
7.88%
16.31%
0.13%
10.27%

Imports
-14.30%
20.70%
10.68%
-0.39%
8.53%
2.28%

Exports
6,878,587
8,113,401
8,530,136
8,475,671
7,231,042
8,124,590
8,331,819
8,351,759
8,054,587
8,828,781
9,433,142
9,011,560

Imports
7,704,934
8,335,393
8,400,164
8,263,775
8,248,938
9,322,614
8,887,496
9,035,313
8,314,091
9,282,603
9,361,432
9,345,469

GDP, SA
29,160,922
29,411,466
29,461,729
29,590,903
30,146,711
30,576,636
30,699,214
30,965,905
31,491,428
31,987,514
31,931,342
32,045,724

Exports
12.20%
22.81%
14.13%
16.12%
5.12%
0.14%
-2.32%
-1.46%
11.39%
8.67%
13.22%
7.90%

Imports
-8.44%
-1.75%
2.87%
6.36%
7.06%
11.84%
5.80%
9.34%
0.79%
-0.43%
5.33%
3.43%

GDP, Q/Q
-0.07%
0.86%
0.17%
0.44%
1.88%
1.43%
0.40%
0.87%
1.70%
1.58%
-0.18%
0.36%

Stocks

Quarterly gross data

1998 prices
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
Last data
Y/Y
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
Own estimate

Agri.
Mining
1,235,265 169,500
2,134,130 210,503
4,883,627 251,197
2,682,255 201,257
1,293,914 161,805
2,255,814 203,477
5,019,876 244,879
2,706,880 193,082
1,344,006 173,639
2,337,807 209,017
5,326,970 249,935
2,829,384 202,011

Mfg
7,039,598
7,408,918
6,832,259
7,089,279
7,167,669
7,677,471
7,167,852
7,433,359
7,517,748
7,981,362
7,535,718
7,689,099

Electr.
557,378
619,492
665,028
755,382
542,818
637,376
672,604
785,655
571,134
654,652
692,881
814,145

Constr.
1,568,573
1,679,120
1,714,872
1,763,658
1,660,193
1,806,620
1,862,087
1,873,269
1,746,141
1,879,428
1,947,906
1,975,242

Services
16,455,141
16,463,417
17,213,738
17,721,636
17,104,763
17,302,774
18,196,186
18,899,203
18,077,399
18,164,062
19,159,278
19,623,490

FISIM
2,239,546
2,150,876
2,472,886
2,811,871
2,382,719
2,354,087
2,840,651
3,302,365
2,781,521
2,672,866
3,101,725
3,551,211

Net tax
2,410,920
2,489,959
2,555,721
2,528,377
2,446,379
2,620,672
2,675,816
2,655,795
2,560,974
2,708,998
2,810,687
2,741,098

Agri.
5.56%
3.65%
2.15%
3.40%
4.75%
5.70%
2.79%
0.92%
3.87%
3.63%
6.12%
4.53%

Mfg
2.84%
3.17%
1.04%
-0.18%
1.82%
3.62%
4.91%
4.85%
4.88%
3.96%
5.13%
3.44%

Electr.
7.76%
5.76%
4.26%
-2.42%
-2.61%
2.89%
1.14%
4.01%
5.22%
2.71%
3.01%
3.63%

Constr.
2.46%
-0.73%
-0.77%
1.49%
5.84%
7.59%
8.58%
6.21%
5.18%
4.03%
4.61%
5.44%

Services
3.26%
3.11%
1.61%
2.29%
3.95%
5.10%
5.71%
6.64%
5.69%
4.98%
5.29%
3.83%

FISIM
4.73%
4.49%
1.13%
3.47%
6.39%
9.45%
14.87%
17.44%
16.74%
13.54%
9.19%
7.54%

Net tax
2.50%
1.52%
0.90%
0.93%
1.47%
5.25%
4.70%
5.04%
4.68%
3.37%
5.04%
3.21%

Mining
-0.57%
3.10%
5.00%
-5.14%
-4.54%
-3.34%
-2.52%
-4.06%
7.31%
2.72%
2.06%
4.62%

GDP
27,196,829
28,854,662
31,643,556
29,929,974
27,994,824
30,150,116
32,998,647
31,244,879
29,209,519
31,182,921
34,686,952
32,376,617
GDP
3.09%
2.75%
1.50%
1.35%
2.93%
4.49%
4.28%
4.39%
4.34%
3.43%
5.12%
3.62%

Private
18,988,272
18,775,301
20,691,021
19,970,423
19,633,386
19,739,607
21,666,590
21,029,373
20,208,331
20,458,741
22,101,838
21,572,019
Private
-0.39%
-1.18%
-0.17%
-0.19%
3.40%
5.14%
4.71%
5.30%
2.93%
3.64%
2.01%
2.58%

Govt.
2,658,831
2,962,781
3,045,021
3,916,953
2,860,799
3,192,752
3,095,751
4,182,383
3,105,788
3,431,372
3,408,028
4,418,751

GFCF
6,992,843
7,555,008
7,024,913
7,448,918
7,096,315
7,809,376
7,444,592
7,923,528
7,061,512
7,813,864
7,549,830
8,005,629

Govt.
5.54%
4.42%
5.46%
8.48%
7.60%
7.76%
1.67%
6.78%
8.56%
7.47%
10.09%
5.65%

GFCF
-1.45%
-4.26%
-3.29%
-1.67%
1.48%
3.37%
5.97%
6.37%
-0.49%
0.06%
1.41%
1.04%

Stocks
-616,769
-216,437
752,630
-1,618,217
-577,781
606,405
1,347,392
-1,206,851
-906,608
-67,234
1,555,545
-1,285,873
Stocks