The Turkish Statistical Institute announced that Turkey's gross domestic product which recorded the highest growth in the world in the Q1 with an 11% increase in constant prices, in the Q3 of this year grew by 17.4% to TRL 348.8 billion in current prices and by 8.2% in constant prices to TRL 31 billion all compared to the same period of last year.

Meanwhile, in the Q3 of 2011 Turkey's seasonal and calendar adjusted GDP increased by 1.7% compared to the previous quarter. In 2010, Turkey's GDP had indicated a nine percent increase to TRL 105.7 billion in constant prices and 15.9% increase to TRL 1.1 trillion in current prices.

Meanwhile, in the Q3 of 2011 China was the top country for GDP growth in the world with 9% increase while Turkey followed China with an 8.2% increase.

According to TUIK data, Turkey's manufacturing sector which increased 8.9% in the Q3 contributed 21.8% to Turkey's overall GDP in the given quarter. The manufacturing sector recorded an 8.1% increase in the Q2 this year.

(Sourced from Steel Orbis)
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