Türkiye's economy booming: GDP approaches $300 billion

Türkiye's gross domestic product (GDP) increased by 5.9 per cent in the third quarter of 2023.

According to the Turkish Statistics Institute (TÜİK), the country's GDP grew by 79.8 per cent from July to September this year compared to the same period in 2022 and amounted to 7.68 trillion Turkish liras ($295.8 billion) in current prices, Anadolu reports.

Imports of goods and services rose 14.5 per cent year-on-year in the third quarter, while exports rose 1.1 per cent.

The Turkish economy showed growth of 4 per cent in the first quarter and 3.9 per cent in the second quarter of this year.