National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Turkey
NAEXKP01TRQ652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
556,047,640,315.17
Year-over-Year Change
18.38%
Date Range
1/1/1998 - 7/1/2023
Summary
This economic trend measures Turkey's real gross domestic product (GDP) over time, providing a comprehensive gauge of the country's overall economic activity and performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP by expenditure is a key macroeconomic indicator that captures the total value of goods and services produced within Turkey's borders. Analyzing this data helps economists and policymakers understand the drivers of economic growth and inform decisions around fiscal and monetary policy.
Methodology
The data is collected and calculated by Turkey's national statistical agency based on surveys and other economic sources.
Historical Context
This GDP metric is widely used to assess Turkey's economic health and make comparisons to other countries.
Key Facts
- Turkey's GDP reached $720 billion in 2021.
- GDP grew by 11% in 2021 after contracting 1.1% in 2020.
- Services account for over 60% of Turkey's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures Turkey's real gross domestic product (GDP), which is the total value of goods and services produced within the country's borders, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's overall economic performance and health. Analyzing Turkey's GDP trends helps economists, policymakers, and investors assess the strength of the Turkish economy and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Turkey's national statistical agency based on surveys and other economic sources.
Q: How is this trend used in economic policy?
A: Policymakers use GDP data to evaluate the effectiveness of fiscal and monetary policies, and to make decisions that promote economic growth and stability.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of the reporting period and the release of the GDP data, and the data may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Turkey (NAEXKP01TRQ652S), retrieved from FRED.