According to the Turkish Statistical Institute, Turkey's gross domestic product in the first 3 months of this year grew by 17.9% to TRL 284.868 billion in current prices and by 11% in constant prices to TRL 25.896 million compared to the same period of last year.

Meanwhile, in the Q1 of 2011 Turkey's seasonal and calendar adjusted GDP increased by 1.4% compared to the previous quarter. In 2010, Turkey's GDP had indicated an 8.9% increase to TRL 105,680 billion in constant prices and 16% increase to TRL 1.105 trillion in current prices. With these quarterly results, Turkey registered the highest growth rate in GDP among European economies.

Mr Timothy Ash economist with the Royal Bank of Scotland said that "Market expectations had been for 9% to 10% print these numbers might mean that people will revise up their full year growth to seven percent. We have 6.5% at present."

(Sourced from SteelOrbis)
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