Page 20 - TURKRptMar22

3.0 Macro Economy
Main Macro Indicators
GDP Growth (y/y, %)
Electricity Consumption (y/y, Mar 6)
Employed (active, mn)
Population (mn)
GDP (per capita, $)
GDP (current, TRYbn)
GDP (current prices, $bn)
Inflation (y/y, %, eop, Feb)
Lira-loans (%, y/y, end-Feb)
Policy Rate (%, active, eop)
CA Balance ($bn)
CA Balance/GDP (%)
Budget (TRYbn, Jan)
2019
0.9
-0.6
26.7
83.2
9,127
4,318
760
11.8
13.9
11.4
1.67
0.2
-124
Q1-20
4.4
3.3
25.1
-
-
1,071
176
11.9
19.1
9.3
-8.1
-4.6
-30
Q2
-10.4
-11.5
20.8
-
-
1,038
153
12.6
39.4
7.6
-11.9
-7.8
-80
Q3
6.3
3.6
25.2
-
-
1,414
197
11.8
46.4
11.1
-8.3
-4.2
-31
-2.2
Q4
6.2
4.5
25.1
-
-
1,524
192
14.6
43.3
17.0
-6.7
-3.5
-32
2020
1.8
0.2
24.1
83.6
8,599
5,047
717
14.6
43.3
17.0
-35.5
-5.0
-173
Q1-20
7.3
5.7
25.8
-
-
1,393
189
16.2
34.4
19.0
-7.5
-4.0
23
Q2
21.9
25.8
26.6
-
-
1,586
189
17.5
17.5
19.0
-5.9
-3.1
-55
-3.5
Q3
7.5
11.6
27.1
-
-
1,915
225
19.6
13.7
18.0
2.2
1.0
-29
Q4
9.1
8.9
28.6
84.7
9,539
2,314
199
36.1
20.4
14.0
-3.7
-1.8
-131
2021
11.0
12.4
-
-
-
7,209
803
36.1
20.4
14.0
-14.9
-1.9
-192
Q1-22
-
5.5
-
-
-
-
-
54.4
27.0
14.0
-
-
30.0
Budget Balance/GDP (%)
USD/TRY (eop, Mar 8)
-2.9
5.95
-2.8
6.61
-7.7
6.85
7.72
-2.1
7.44
-3.4
7.44
1.6
8.24
8.70
-1.5
8.89
-5.7
13.3
-2.7
13.3
-
14.4
WARNING: If you use macroeconomic statistics in real life, avoid planning or pricing based on TUIK data.
Turkey released 11% y/y official GDP growth for 2021.
Monetary conditions became tighter in Turkey from December 20 and much
economic activity has come to a near halt.
Europe (read as “Turkey’s exports”) has also endured a slowdown so far in 2022. Tightening pressure in the face of booming inflation is now also haunting Europe, with countries experiencing price growth they have not seen for decades.
Economic activity has no connection with Turkey’s official GDP growth. For 2022, the bottom line so far stands at 5%, as per usual.
The “public bidding” will commence right up to the release date for GDP growth in 2022 in March 2023. Provided Erdogan remains on the throne.
20 TURKEY Country Report March 2022 www.intellinews.com