Türkei BIP Veränderung zum Vorjahr

The Turkish economy expanded 2.5% year-on-year in the second quarter of 2024, the smallest growth since a contraction four years ago, following a downwardly revised 5.3% rise in the previous quarter and below forecasts of 3.2%. Household spending slowed sharply (1.6% vs 6.8%) as a big surge in borrowing costs weighed on consumers' purchasing power. Also, government spending grew a meager 0.7% (vs 5.4% in Q1) amid efforts to cut public expenditure and control public finances. In addition, gross capital formation (0.5% vs 9.3%) grew at a much softer pace, while exports stalled (vs 4.3%) and imports wee down 5.7% (vs -3%). Compared to the previous quarter, the Turkish economy grew a meager 0.1%, down from an expansion of 1.4% in the previous period. The IMF expects the Turkish economy to grow 3.2% this year and 3.3% in 2025.