National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Turkey
TURGDPNQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,356,435,859,849.00
Year-over-Year Change
447.03%
Date Range
1/1/1998 - 7/1/2023
Summary
The National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Turkey measures the total value of all goods and services produced within Turkey, expressed in current monetary terms. This key economic indicator provides insights into the overall size and performance of the Turkish economy.
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
Gross Domestic Product (GDP) is the standard measure of a country's economic activity and production. The GDP by Expenditure data for Turkey breaks down the components that contribute to total GDP, including consumption, investment, government spending, and trade balance.
Methodology
The data is collected and calculated by the Turkish Statistical Institute using internationally recognized national accounting methods.
Historical Context
GDP is widely used by policymakers, analysts, and investors to assess the health and trajectory of the Turkish economy.
Key Facts
- Turkey is the 19th largest economy in the world by GDP.
- GDP in Turkey grew by 5.6% in 2021.
- Services account for over 60% of Turkey's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of all goods and services produced within Turkey, expressed in current monetary terms. It is the standard indicator of the overall size and performance of the Turkish economy.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial metric used by policymakers, economists, and investors to assess the health, growth, and trajectory of the Turkish economy. It provides insights into consumer spending, investment, government activity, and trade performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Turkish Statistical Institute using internationally recognized national accounting methods.
Q: How is this trend used in economic policy?
A: GDP is a key input for monetary and fiscal policy decisions by the Turkish government and central bank. It also informs market analysis, investment strategies, and economic forecasting by private sector analysts.
Q: Are there update delays or limitations?
A: The GDP data for Turkey is typically published on a quarterly basis with a delay of several months. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Gross Domestic Product: Total for Turkey (TURGDPNQDSMEI), retrieved from FRED.