In a notable economic shift, Turkey's GDP growth has accelerated to 3.2% in the fourth quarter of 2024, marking a significant increase from the 2.1% recorded in the previous quarter. This upbeat data, updated on February 28, 2025, indicates a promising rise in Turkey's economic activity as compared to the same quarter in 2023.
The comparison, conducted on a year-over-year basis, reveals an improved economic outlook for Turkey as the country capitalizes on growth opportunities across various sectors. The previous quarter's GDP growth figure of 2.1% was already a positive indicator when juxtaposed with the same period a year ago, but the 3.2% growth by the end of 2024 suggests a robust upward trend.
Economists and investors are likely to scrutinize the drivers behind this growth momentum, looking at factors such as consumer spending, industrial output, and potential policy adjustments that may have contributed. As Turkey continues on this upward economic trajectory, close attention will be paid to how the first quarter of 2025 unfolds.
