GDP, measured by the chained volume index, increased by 1% in seasonally and calendar adjusted terms compared to the previous quarter and by 2.7% in calendar adjusted terms compared to the same quarter of the previous year. Calculated at current prices, GDP was realized as TRY 12 trillion 125 billion 173 million, while in US dollar terms it reached 335 billion 504 million.
Construction and services sectors grew, agriculture and industry regressed
When analyzed by economic activities, construction sector increased by 7.3%, information and communication activities by 6.1%, other services by 4.7%, professional and administrative services by 4.0%, real estate activities by 2.4%. The services sector as a whole increased by 1.3%, financial and insurance activities by 0.5%, public administration, education and health services by 0.3%.
On the other hand, the agricultural sector decreased by 2% and the industrial sector decreased by 1.8%.
Household expenditures increased by 2%
Final consumption expenditures of resident households increased by 2% y/y in the first quarter of 2025. In the same period, government final consumption expenditures and gross fixed capital formation increased by 1.2% and 2.1%, respectively.
On the foreign trade front, exports of goods and services decreased by 0.01%, while imports increased by 3%.
Labor payments increased by 42.9% y/y
In the first quarter of 2025, labor payments increased by 42.9% y/y, while net operating surplus/mixed income increased by 31.2%. The share of labor payments in Gross Value Added increased to 43.7%, while the share of net operating surplus/mixed income decreased to 35%.
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