Turkish economy surges 4.5% in 2023

The Turkish economy grew by 4.5% in 2023, the Turkish Statistical Institute announced on Thursday.

The official data showed that the country's gross domestic product stood at 4% in the last quarter of the year.

In 2023, the GDP reached $1.12 trillion with a GDP per capita of $13,110.

The GDP growth rate for the country was 4% in the first quarter, 3.9% in the second quarter, and 6.1% in the third quarter.

In 2022, the growth rate was 5.5%.

Economists had predicted that the Turkish economy would grow by 3.97% in the fourth quarter of last year. The average growth expectations for the whole of 2023 were 4.4%.

Source: AA