Business circles welcome Turkey s new economic reforms aa.com.tr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aa.com.tr Daily Mail and Mail on Sunday newspapers.
2020 figures send positive signals for country’s future, says head of business association Gökhan Ergöçün | 02.03.2021
ISTANBUL
Members of Turkey’s business community hailed the country’s economic performance based on its gross domestic product (GDP) growth rate last year according to data released Monday by the country s statistical authority.
Turkey s economy expanded 1.8% year-on-year in 2020 despite the economic fallout from the coronavirus pandemic, said the Turkish Statistical Institute (TurkStat).
The country s GDP at current prices stood at 5.1 trillion Turkish liras (some $717.1 billion) last year, said TurkStat.
In the last quarter of 2020, the economy posted an annual growth rate of 5.9%.
Turkey s garment industry s exports to exceed $20B aa.com.tr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aa.com.tr Daily Mail and Mail on Sunday newspapers.
Turkey reports 17% drop in defense exports January 19 In 2020, the defense and aerospace industry accounted for 1.3 percent of Turkey’s overall exports. (Ozan Kose/AFP via Getty Images)
This story has been updated to reflect more precise figures directly from the Turkish Exporters’ Assembly. ANKARA, Turkey Turkey’s defense and aerospace exports stood at $2.279 billion in 2020, marking an approximate 17 percent decline from $2.74 billion in 2019, official figures have revealed. The Turkish Exporters’ Assembly, or TIM in its Turkish acronym, said disruption in production, supply and logistics processes due to restrictions imposed over the coronavirus pandemic caused the fall in exports. In 2020, the defense and aerospace industry accounted for 1.3 percent of Turkey’s overall exports.