Page 11 - TURKRptJul21

3.0 Macro Economy
Main Macro Indicators
2018
Q1-19
Q2
Q3
Q4
2019
Q1-20
Q2
Q3
Q4
2020
Q1-20
Q2
GDP Growth (y/y)
2.8
-2.6
-1.7
1.0
6.4
0.9
4.5
-10.3
6.3
5.9
1.8
7.0
-
PowerConsumption(y/y,Jun20)
0.8
-1.5
0.4
-1.5
0.5
-0.6
3.3
-11.5
3.6
4.5
0.2
5.7
14.3
Employed (active, mn)
26.6
27.0
26.9
26.9
26.7
26.7
25.1
20.8
25.2
25.1
24.1
25.8
-
Population (mn)
82.0
-
-
-
-
83.2
-
-
-
-
83.6
-
-
GDP (per capita, $)
9,346
-
-
-
-
9,127
-
-
-
-
8,599
-
-
GDP (current, TRYbn)
3,724
925
1,028
1,158
1,208
4,320
1,074
1,036
1,414
1,525
5,048
1,386
-
GDP (current prices, $bn)
766
172
175
204
209
761
177
152
197
192
717
188
-
CPI (%, eop, May)
20.3
19.7
15.7
9.3
11.8
11.8
11.9
12.6
11.8
14.6
14.6
16.2
16.6
Lira-loans (%, y/y, Jun 18)
1.8
3.0
-0.5
4.0
13.9
13.9
19.1
39.4
46.4
44.1
44.1
33.8
18.3
Policy Rate (%)
24.1
25.5
23.9
16.3
11.4
11.4
9.3
7.6
11.1
17.0
17.0
19.0
19.0
CA Balance ($bn, Apr)
-28.3
-1.88
-1.29
5.92
-1.07
1.67
-8.79
-12.4
-8.70
-6.89
-36.7
-7.8
-1.7
CA Balance/GDP (%)
-3.7
-1.1
-0.7
2.9
-0.5
0.2
-5.0
-8.1
-4.4
-3.6
-5.1
-4.1
-
Budget (TRYbn, Apr)
-73
-36
-42
-7
-38
-124
-30
-80
-31
-32
-173
23
-30
Budget Balance/GDP (%)
-1.9
-3.9
-4.1
-0.6
-3.1
-2.9
-2.8
-7.7
-2.2
-2.1
-3.4
1.6
-
USD/TRY (eop, Jun 25)
5.29 5.56 5.79 5.65 5.95 5.95 6.61 6.85 7.72 7.44
7.44
8.24
8.75
Turkey’s official first-quarter GDP growth rate was released at 7% y/y and 1.7% q/q.
Turkish finance ministry “expects” Turkey’s official GDP growth data for Q2 will be released at about 20%s, the minister Lutfi Elvan said on June 25.
For 2021 as a whole, the official GDP growth data will be released at over the 5.8% target in the government’s medium-term program, the minister also said.
The country’s statistics office TUIK works under the finance ministry. TUIK will on September 1 release the official GDP growth data for Q2.
Earlier in June, JPMorgan raised the stakes for Turkey’s 2021 official growth data release to 6.8%.
11 TURKEY Country Report July 2021 www.intellinews.com