Turkey's economy expanded 7% year-on-year in the first quarter of 2021 amid economic fallout from the coronavirus pandemic.
The country's gross domestic product (GDP) increased by 29.1% and reached 1.4 trillion TRY at current prices. GDP realized 188.6 billion US Dollars in the first quarter of 2021.
The value added increased by 18.1% in information and communication, 14.4% in other service activities, 11.7% in industry, 7.5% in agriculture, 5.9% in services, 5.3% in professional, administrative and support service activities, 3.7% in public administration, education, human health and social work activities, 2.9% in financial and insurance activities, 2.8% in construction sector and 2.4% in real estate activities.
Final consumption expenditure of resident households increased by 7.4%, government final consumption increased by 1.3% and gross fixed capital formation increased by 11.4% in the first quarter of 2021 compared with the same quarter of the previous year.
Exports of goods and services increased by 3.3% in the first quarter of 2021 compared with the same quarter of the previous year in the chained linked volume index, imports of goods and services decreased by 1.1%.
Compensation of employees are increased by 16.0% and net operating surplus/mixed income are increased by 39.1% in the first quarter of 2021 compared with the same quarter of the previous year, respectively.
The share of compensation of employees in the Gross Value Added at current prices was 35.5% in the first quarter of 2021 while it was 39.0% in the previous year. The share of net operating surplus/mixed income was 45.8% while it was 41.9% in the same quarter of the previous year.
