- Households Final Consumption Expenditure,
- Government Final Consumption Expenditure,
- Gross Fixed Capital Formation,
- Change in Stocks,
- Exports of Goods and Services,
- (Less) Imports of Goods and Services.
I. Quarter: 10 June
II. Quarter: 10 September
III. Quarter: 10 December
IV. Quarter: 31 March
[ Production (basic prices)
+ Imports (c.i.f) ]
+ Trade and Transport Margins
– Exports (f.o.b)
= Final Consumption Expenditure at purchasers’ prices.Data on government final consumption expenditures are taken from administrative records. Gross fixed capital formation for private sector are based on commodity flow method and for public sector are based on administrative records and quarterly surveys. In estimating exports and imports of goods, data based on the foreign trade statistics are used. Information on exports and imports of services is taken directly from the balance of payment statistics, drawn up by the Central Bank of Turkish Republic.
Gross domestic product by expenditure is estimated by using annual and quarterly data compiled by Turkstat and administrative records. Other institutions and organizations which is compiled data are following: T.C. Central Bank, Ministry of Finance, State Economic Enterprices, Independent Agencies and Revolving Funds.
I. Quarter (January-February-March)
II. Quarter (April-May-June)
III. Quarter (July-August-September)
IV. Quarter (October-November-December)
Information form on revision will be carried out in 2016 for the statistics produced in this scope of this press release can be accessed from the link below.
- Private Final Consumption Expenditure,
I. Quarter: 30 June
IV. Quarter (October-November-December)
- Taxes on production and on imports
-Consumption of fixed capital
-Compensation of employees
Transactions coverage: The main cost components of GDP by income approach;-Taxes on production and on imports-(minus) Subsidies-Consumption of fixed capital-Compensation of employees-Operating surplus
Valuation: GDP by income approach in current (1987=100) prices. Period: Quarterly GDP by income approach results are published once a year. Method: GDP by income approach is estimated by using annual and quarterly data compiled by Turkstat and compiled from other institutions and organizations outside Turkstat.
Gross domestic product by income approach is estimated by using annual and quarterly data compiled by Turkstat and compiled from other institutions and organization outside Turkstat. List of institutions are Ministry of Finance, Inspection Economic Enterprises, Social Security Institutions, etc.
Revision: GDP by income approach (1998=100) revision studies is going on.
Gross domestic product (GDP) by production approach is the value of goods and services produced by resident institutional units less the value of intermediate consumption used in the production of these goods and services plus taxes less subsidies on products. It is estimated in current and constant prices. The base year for constant prices is 1998. There are three approaches for estimation of GDP; production, expenditure and income. In Turkey, the main approach is production.
Per capita gross domestic product in Turkish Liras is obtained by dividing gross domestic product at current prices to mid-year population. Per capita GDP in US Dollar is obtained by dividing per capita GDP at Turkish Liras to average dollar exchange rate based on import.
Basic price is the amount received by the producer from the purchaser for a unit of output less taxes plus subsidies on products. It excludes any transport charges invoiced separately by the producer.
Producer price is the amount received by the producer from the purchaser for a unit of output plus taxes less subsidies on products. It excludes any transport charges invoiced separately by the producer.
Purchaser price is the amount paid by the purchaser for a unit of output plus any taxes invoiced by the seller except deductible by the purchaser less subsidies on product. It is equal to the producer price plus transport costs and trade margins on products, which are not separately invoiced.
Gross domestic product implicit price deflator is obtained by dividing gross domestic product at current prices to gross domestic product at constant prices. This deflator is an average price index which reflects change in overall price level in an economy.
Classification is the Statistical Classification of Economic Activities in the European Community (NACE).
· Agriculture, forestry and fishing
· Mining and quarrying
· Electricity, gas and water
· Wholesale and retail trade
· Transportation and storage
· Hotels and Restaurants
· Information and Communication
· Financial intermediation
· Real estate
· Business activities
· Public administration and defence; compulsory social security
· Health and social work
· Other community, social and personnel service activities
· Private household with employed persons
International guideline is the European System of Accounts, 1995 (ESA-95).
Transaction coverage is the flow of goods and services between economic units.
Geographical coverage is the whole country.
Valuation is in current and constant prices expressed in Turkish Liras and for overall terms in US Dollars.
Period is three months for quarterly estimates and twelve months between January 1 and December 31 for annual estimates. The quarters are as follows;
· I. Quarter: January-February-March
· II. Quarter: April-May-June
· III. Quarter: July-August-September
· IV. Quarter: October-November-December
Quarterly national accounts data are published 4 times a year.
· I. Quarter: 10 June
· II. Quarter: 10 September
· III. Quarter: 10 December
· IV. Quarter: 31 March
Basic Data Sources are surveys and censuses carried out by TurkStat and administrative registers of other public institutions. Monthly, quarterly, annual and quadrennial surveys and censuses are carried out by TurkStat. Also, various administrative registers kept by other institutions such as Ministry of Finance, Central Bank of Republic of Turkey etc. are used.
Processing system is based on data used. Various software and databases are used for estimates.
Processing site is TurkStat.
Seasonal and calendar related effects prevent observing the general tendency of data because of their temporary characteristics. Therefore, identification of seasonal patterns of short term indicators plays crucial role in order to make reliable comparisons between consecutive periods.
Currently, Turkstat carries out the seasonal adjustment of GDP, using TRAMO-SEATS methodology based on ARIMA (Autoregressive Integrated Moving Average) model estimation developed by the Banco de Espana and also suggested by Eurostat. The software used for the application of this method is TRAMO-SEATS for Windows (TSW).
Sasonal Adjustment Process
GDP data contain both seasonal and calendar effects. The process of seasonal and calendar adjustment of GDP begins at the end of each year with determination of the specification of models of the next year. This specified model structure is kept fixed throughout the year to adjust seasonally and/or calendar effects. At the end of the year, just like the previous year, specification of econometric estimation models for the following year is determined. The identified process repeats itself in a cyclical manner each year.
Total GDP and subtitles by production approach and expenditure approach have been seasonally and calendar adjusted. While 18 subtitles of GDP contain both seasonal and calendar effects, 16 subtitles contain only seasonality.
Direct or Indirect Approach
Seasonally and calendar adjusted figures of GDP have been produced by using direct approach independently from the seasonal adjustment of its sub-series. The individual subtitles of GDP by production approach and expenditure approach are seasonally adjusted and then aggregated to derive seasonally and calendar adjusted totals. The indirect approach has the advantage of easy calculation of contributions to growth from components of main aggregates and advantage of retaining additivity.
Seasonal adjustment procedure is subject to revisions over time because of the re-estimation of seasonal component as new observations are added. These revisions are implemented on the data of the last three years excluding the current year.
Adjusted data has been published in 3 different ways.
ü “Calendar adjusted” data is derived from unadjusted data by removing calendar and holiday originated effects. Calendar adjusted data should be used in comparisons regarding the same month/period of the previous year.
ü “Seasonally adjusted” data is derived from unadjusted data by removing effects originating from seasonal effects. Seasonally adjusted data should be used in comparisons regarding the previous month/period.
ü If unadjusted data contains both calendar and holiday, and seasonal effects, “seasonally and calendar adjusted” data is derived by removing these effects. Seasonally and calendar adjusted data should be used in comparisons regarding the previous month/period
The methodological revision to implement the European System of Accounts, 2010 (ESA-2010) will be announced at least two quarters before.
Gross domestic product (GDP) by production approach is the value of goods and services produced by resident institutional units less the value of intermediate consumption used in the production of these goods and services plus taxes less subsidies on products. It is estimated in current and constant prices. The base year for constant prices is 1987. There are three approaches for estimation of GDP; production, expenditure and income. In Turkey, the main approach is production.
Classification is the Industrial Statistical Classification of All Economic Activities (ISIC).
· International Organizations
International guideline is the System of National Accounts, 1968 (SNA-68).
Transaction coverage is the flow of goods and services between economic units expressed in monetary terms.
Revision is a normal process in national accounts. There are two types of revision. First one is regular (systematic) revision, second one is methodological revision. Regular revision is related with previous quarters, methodological revision is related with international standards.
GDP in constant prices (1987) had been continued until 2007.