Turkey's economy grows 1.8% in 2020

9 March 2021, Tuesday

The Turkey Statistical Institute (TÜİK) released data for 2020, according to which the country's economy grew by 1.8 percent, despite the dire conditions of the global pandemic. At the same time, Turkey's GDP growth in the IV quarter of last year amounted to 5.9 percent, the state statistics agency said.

Turkey's GDP at current prices increased by 16.8 percent in 2020 on an annualized basis - up to 5 trillion 47 billion 909 million Turkish lira (about 688 billion 626.5 million dollars at the current exchange rate).