Industry returns to growth
Turkish economy grew by 2.3 percent in the second quarter
The Turkish economy grew by 2.3 percent in the second quarter of 2026 compared to the same period of the previous year. The industrial sector, which contracted by 0.8 percent in the first quarter, recorded a growth of 2.4 percent in the second quarter.
The Turkish Statistical Institute (TurkStat) announced the Gross Domestic Product (GDP) results for the April-June period of 2026. Accordingly, GDP increased by 2.3 percent as a chained volume index compared to the same quarter of last year. Seasonally and calendar adjusted GDP rose by 1.1 percent compared to the previous quarter.
Return to growth in industry
The recovery in the industrial sector drew attention in the economy's second-quarter performance. The industrial sector grew by 2.4 percent on an annual basis in the second quarter of 2026. Thus, the industrial sector, which had contracted by 0.8 percent in the first quarter of the year, returned to the growth zone.
On a sectoral basis, the highest growth took place in agriculture, forestry, and fishing with 13.3 percent. This sector was followed by information and communication activities with 8.6 percent, and public administration, education, human health, and social work activities with 4 percent.
Taxes on products minus subsidies increased by 3.3 percent, other service activities by 3.2 percent, financial and insurance activities by 2.1 percent, real estate activities by 2.1 percent, and professional, administrative, and support service activities by 2 percent. While growth in trade, transportation, accommodation, and food services was 0.5 percent, the construction sector shrank by 1.9 percent.
Consumption increased by 3.5 percent
When examining the GDP components by expenditure approach, resident households' final consumption expenditures increased by 3.5 percent annually in the second quarter. Gross fixed capital formation rose by 0.6 percent, while government final consumption expenditures declined by 1.8 percent.
Exports of goods and services decreased by 3.4 percent, while imports dropped by 6.4 percent.
GDP at current prices is 19.9 trillion TL
Calculated by the production approach, GDP reached 19 trillion 869 billion 747 million TL in the second quarter of 2026, increasing by 36 percent at current prices compared to the same period of the previous year. The second-quarter value of GDP was realized as 438 billion 347 million dollars at current prices.
Labor force payments share is 38.1 percent
According to data calculated by the income approach, labor force payments increased by 36.7 percent in the second quarter of 2026 compared to the same period of the previous year. The increase in net operating surplus/mixed income was 38.7 percent.
The share of labor force payments in Gross Value Added at current prices was realized as 38.1 percent. This rate was at 38.3 percent in the same period of last year. The share of net operating surplus/mixed income rose from 41.3 percent to 41.6 percent.
Source: Turkish Statistical Institute (TurkStat)
This content has been translated using artificial intelligence technology.