Page 8 - TURKRptMar21 2

2.4 Polls and sociology
Some 16% of Turks either used or owned cryptocurrencies in 2020, according
to a study by the World Economic Fund (WEF).
Nigerians topped the list at 32%, followed by Vietnamese at 21% and Filipinos at 20%. Turkey came fourth in the global list and claimed the top spot in Europe.
3.0 Macro Economy
Main Macro Indicators
GDP Growth (y/y)
Electricity Consumption(y/y, Jan)
Employed (active, mn, Nov) Population (mn)
GDP (per capita, $)
GDP (current, TRYbn) GDP (current prices, $bn) CPI (%, eop, Jan) Lira-loans (%, y/y, Feb19) Policy Rate (%)
CA Balance ($bn)
CA Balance/GDP (%) Budget (TRYbn, Jan) Budget Balance/GDP (%) USD/TRY (eop, Feb 26)
2017 2018 Q1-19
7.5 2.8 -2.3
5.5 0.8 -1.5 0.4 -1.5 0.5 -0.6 3.3 -11.5 3.6 4.5
27.3 26.6 27.0 80.8 82.0 -
10,537 9,346 - 3,111 3,724 922 852 766 172
11.9 20.3 19.7 24.9 1.8 3.0 12.8 24.1 25.5
-46.6 -28.3 -1.88
-5.5 -3.7 -1.1
-48 -73 -36
-1.5 -1.9 -3.9
3.79 5.29 5.56
26.9 26.9 26.7 26.7 22.5 23.0 25.7 25.2 - - - 83.2 - - - -
- - - 9,127 - - - - 1,023 1,146 1,190 4,280 1,071 1,042 1,419 -
- - 83.6 -
- -
- -
- - 14.6 15.0 44.1 38.2 17.0 17.0
Q2 Q3 Q4 2019 Q1-20 Q2 Q3 Q4 2020
Q1-20
-1.6 1.0 6.0 0.9 4.5 -9.9 6.7 - - - 0.2 2.8
174 202 206 754 15.7 9.3 11.8 11.8 -0.5 4.0 13.9 13.9 23.9 16.3 11.4 11.4 -1.29 5.92 -1.07 1.67 -0.7 2.9 -0.5 0.2
-42 -7 -38 -124
-4.1 -0.6 -3.2 -2.9
5.79 5.65 5.95 5.95
176 153 197 - 11.9 12.6 11.8 14.6 19.1 39.4 46.4 44.1
The Turkish Statistical Institute (TUIK, or TurkStat) is expected to release official GDP growth figures for Turkey of 7-8% y/y for Q4 and 2.5% for 2020 as a whole, central bank governor Naci Agbal said on February 9 in a meeting with economists.
Agbal also foresaw a 5% y/y official GDP growth release for Q1 2021.
On January 18, bne IntelliNews noted that “the Erdogan administration does indeed enjoy a positive surprise in the growth figures; perhaps we could be in for even more than 1.5%”. That observation came after Turkish President Recep Tayyip Erdogan said he “believes” Turkey’s official growth in 2020 surpassed the government’s 0.3% target. The official data forecasters subsequently hiked their GDP expansion estimates to 1-1.5%.
The TUIK will release Turkey’s official GDP figures for 2020 on March 1.The order for 2021 currently stands at 5%. Forecasts will converge to the order to the statistics institute. Electricity consumption in Turkey rose by 3% y/y to 26.9
8 TURKEY Country Report March 2021 www.intellinews.com
9.3 7.6 11.1 17.0
-8.79 -12.4 -8.70 -6.89 -36.7 -
-5.0 -8.1 -4.4 - - - -30 -80 -31 -32 -173 -24
-2.8 -7.7 -2.2 - - - 6.61 6.85 7.72 7.44 7.44 7.41