Independent Annual Gross Domestic Product increased by 3.2% in 2016
Gross Domestic Product calculated by production approach based on annual balance sheet and income tables with chain linked volume index, increased by 3.2% in 2016 compared to the previous year.
In 2016, GDP by production approach increased by 11.5% compared to the previous year and reached 2 trillion 608 billion 526 million TL at current prices. In 2016, manufacturing industry had the largest share with 16.6%. Manufacturing industry was followed by wholesale and retail trade and construction industry with 11.4% and 8.6%, respectively. Services of households as employers had lowest share in GDP.
Gross Domestic Product per capita was 32 904 TRY in 2016
The gross domestic product per capita in 2016 was 32 904 TRY and 10 883 US Dollars at current prices.
GDP shares of industries at current prices, 2016
Final consumption expenditures of households and non-profit organizations serving households increased by 3.7% in 2016
Final consumption expenditures of households and non-profit organizations serving households increased by 3.7% in 2016 compared to the previous year's chain linked volume index. The share of household and non-profit organizations serving households consumption expenditures in GDP was 59.8%. Expenditure groups with the highest share in household expenditure were food and non-alcoholic beverages with 21.6%, transportation with 15.73% and housing, water, electricity, gas and other fuels with 15.68%, respectively.
In 2016, the share of government final consumption expenditures in GDP was 14.8%, while the share of fixed capital formation was 29.3%. According to the previous year's chain linked volume index, final consumption expenditure by the government increased by 9.5%, while gross fixed capital formation by 2.2%.
Exports of goods and services decreased by 1.9% while imports increased by 3.7% in 2016
Exports of goods and services decreased by 1.9% while imports of goods and services increased by 3.7% in 2016 compared to the previous year in chain linked volume index.
Major components of GDP by expenditure approach, 2016
Compensation of employees increased by 22.9% in 2016
According to GDP by income approach, compensation of employees increased by 22.9%. While net operating surplus/mixed income increased by 4.1% in 2016 compared to the previous year.
The share of compensation of employees in gross value added was 36.5% in 2016
The share of compensation of employees in total gross value added was 33.2% in 2015; while this ratio was 36.5% in 2016. The share of net operating surplus/mixed income in value added was 50.4% in 2015; while this ratio was 47.1% in 2016.
Share of components of income approach in gross value added, 2015-2016
The next release on this subject will be on September 10, 2018.
Quarterly GDP is provisional according to the methodology of National Accounts. As a result of this the figures are revised with respect to more complete, updated and more accurate information as it becomes available. By “Annual Gross Domestic Product, 2016” Press Release;
- All quarters of 2015 and 2015 Annual figures,
- The 2016 annual figures obtained by sum of four quarters and all quarters of 2016 are revised.