31.08.2020
Annual Gross Domestic Product, 2019 in Turkey
A revision was made in the National Accounts system due to the revisions made in Foreign Trade Statistics (the transition from the Special Foreign Trade system to the General Foreign Trade system), International Service Trade Statistics (ITSS) and Balance of Payments Statistics (BoP) released in 2020. Detailed methodological explanation on the subject is included in the release attachment.
Independent annual gross domestic product increased by 0.9% in 2019
Gross Domestic Product (GDP) with chain linked volume index, calculated by annual data, increased by 0.9% in 2019 compared to the previous year.
In 2019, GDP by production approach increased by 15.0% compared to the previous year and reached 4 trillion 320 billion 191 million TRY at current prices. In 2019, manufacturing industry had the largest share with 18.3%. Manufacturing industry was followed by wholesale and retail trade and transport and storage industry with 12.4% and 8.6%, respectively. Services of households as employers had the lowest share in GDP.
Gross domestic product per capita was 52 thousand 316 TRY in 2019
The gross domestic product per capita in 2019 was 52 thousand 316 TRY and 9 thousand 213 USD at current prices.
The shares of industries in GDP by production approach at current prices, 2018, 2019
Arts, entertaintment and recreation was the most increased sector with 18.4%
In 2019, R- Arts, entertaintment and recreation with 18.4%, D- Electricity, gas, steam and air conditioning supply with 12.2% and K- Financial and insurance activities with 6.9% were high increases realized sectors. On the other hand, F- Construction with 8.6%, C- Manufacturing with 2.3% and N- Administrative and support service activities with 2.2% were high decreases realized sectors.
Sectoral growth rates, chain linked volume index, 2019
Final consumption expenditures of resident households increased by 1.5% in 2019
Final consumption expenditures of resident households increased by 1.5% in 2019 compared to the previous year’s chain linked volume index. The share of resident households consumption expenditures in GDP was 56.5%. Expenditure groups with the highest share in household expenditure were food and non-alcoholic beverages with 21.8%, transportation with 15.9% and housing, water, electricity, gas and other fuels with 14.5%, respectively.
In 2019 government final consumption expenditures increased by 4.4%
In 2019, the share of government final consumption expenditures in GDP was 15.5%, while the share of gross fixed capital formation was 25.9%. According to the previous year’s chain linked volume index, final consumption expenditure by the government increased by 4.4%, while gross fixed capital formation decreased by 12.4%.
Imports of goods and services decreased by 5.3% while exports increased by 4.9% in 2019
Imports of goods and services decreased by 5.3% while exports of goods and services increased by 4.9% in 2019 compared to the previous year in chain linked volume index. In major components of GDP by expenditure approach, exports of goods and services has 32.7% share, imports of goods and services has 29.9% share.
Major components of GDP by expenditure approach, 2018, 2019
Compensation of employees increased by 20.0% in 2019
According to GDP by income approach, compensation of employees increased by 20.0%; while gross operating surplus/mixed income increased by 13.2% in 2019 compared to the previous year.
The share of compensation of employees in gross value added was 34.8%
The share of compensation of employees in total gross value added was 33.5% in 2018; while this ratio was 34.8% in 2019. The share of net operating surplus/mixed income in value added was 49.5% in 2018; while this ratio was 47.5% in 2019.
Components of income approach in gross value added, 2018, 2019
The next release on this subject will be on August 31, 2021.
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EXPLANATION
Quarterly GDP is provisional according to the methodology of National Accounts. Therefore, the figures are revised with respect to independent annual GDP estimations which are compiled by annual, updated and more detailed information.
The revision in the Balance of Payments Statistics caused by “Transition to the General Trade System in Foreign Trade Statistics” and the “International Service Trade Statistics”, into the National Accounts System, see Table 12 of the Press Release. In addition, GDP series before revision are shown in Table 11.
Along with this press release; the expenditure component given under one heading as “Final consumption expenditure of resident households and consumption of NPISH” in the GDP tables by the expenditure approach is given separately as “Consumption of resident households” and “Consumption of NPISH “.
Source: TurkStat
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