Turkey’s Gross Domestic Product growth soared at the rate of 5.7 percent in the fourth quarter of 2015 compared with the same period in 2014, which was the fastest pace since 2011 with strong demand remaining active, Turkish Statistical Institute (TurkStat) reported Thursday.
The figure exceeded analyst consensus estimates of 3.8 percent.
The Gross Domestic Product in the fourth quarter of 2015 rose to 34.8 billion Turkish liras ($12.25 billion), which was up 5.7 percent year-on-year, TurkStat said.
Performance in the fourth quarter pushed the overall annual GDP growth to 4 percent, with cumulative GDP reaching 131.3 billion Turkish liras in constant prices ($46.2 billion).
Household final consumption expenditure in 2015 rose by 4.5%, reaching 87 billion 392 million Turkish Liras at constant prices and increased by 11.4% and reached 1 trillion 341 billion 190 million Turkish Liras at current prices.
Government final consumption expenditure in 2015 increased by 6.7% and reached 14 billion 975 million Turkish Liras at constant prices and increased by 14.3% and reached 306 billion 605 million TL at current prices.
