FX.co ★ Turkish GDP Growth Lowest in About 5 Years

In the first quarter of 2025, the Turkish economy experienced modest growth, registering a 2% increase compared to the same period the previous year. This marks the slowest pace of growth since the 2020 contraction, falling short of the 3% growth seen in the fourth quarter of 2024 and below the projected 2.3% increase. Key components of the economy showed notable deceleration: household spending grew by 2% compared to 3.9% previously, government expenditure rose by 1.2% compared to 1.6%, and investment increased by only 2.1% compared to the previous 6.1%. Exports remained sluggish, not advancing after a 2% decline in the last period, while imports increased at a quicker rate of 3%, up from 1.6%. On a quarter-to-quarter comparison, Turkey's GDP grew by 1%, following a 1.7% increase in the preceding period.