Gross Domestic Product with chain-linked volume index, calculated by annual data, increased by 2.8% in 2018 compared to the previous year.The preliminary GDP growth rate for 2018, which was published as 2.6% on 11 March 2019, was revised to 2.8% with independent annual GDP.In 2018, GDP by production approach increased by 19.7% compared to the previous year and reached 3 trillion 724 billion 388 million TRY at current prices.
In 2018, the manufacturing industry had the largest share with 19.0%. Manufacturing industry was followed by wholesale and retail trade and transport and storage industry with 12.1% and 8.2%, respectively. Services of households as employers had the lowest share in GDP.
The gross domestic product per capita in 2018 was 45 thousand 750 TRY and 9 thousand 693 USD at current prices.
Final consumption expenditures of households and non-profit organizations serving households increased by 0.04% in 2018 compared to the previous year's chain-linked volume index.
The share of household and non-profit organizations serving households consumption expenditures in GDP was 56.7%.
Expenditure groups with the highest share in household expenditure were food and non-alcoholic beverages with 21.2%, transportation with 16.4% and housing, water, electricity, gas and other fuels with 14.7%, respectively.In 2018, the share of government final consumption expenditures in GDP was 14.8%, while the share of fixed capital formation was 29.9%. According to the previous year's chain-linked volume index, final consumption expenditure by the government increased by 6.6%, while gross fixed capital formation decreased by 0.6%.
Exports of goods and services increased by 7.8% while imports of goods and services decreased by 7.8% in 2018 compared to the previous year in the chain-linked volume index.
According to GDP by the income approach, compensation of employees increased by 19.2%. While gross operating surplus/mixed-income increased by 21.6% in 2018 compared to the previous year.
The share of compensation of employees in total gross value added was 34.4% in 2017; while this ratio was 33.8% in 2018. The share of net operating surplus/mixed-income in value-added was 49.4% in 2017; while this ratio was 48.7% in 2018.
ILKHA