Turkey's Economy Grew 21.7% in the Second Quarter

Turkey's exporters council chief Ismail Gülle commented on the country's economic growth figures for the second quarter of the year, saying "Following 7 percent growth in the first quarter, we achieved 21.7 percent growth in the second quarter. This figure represents the highest growth rate we have achieved in the 2000s. Export's contribution to growth in the first half of the year was 10.8 percentage points. In other words, half of the growth came from exports. These figures have strengthened our conviction that Turkey will rise through exports." Emphasizing that Turkey was one of only two countries to close 2020 with growth, TİM Chairman İsmail Gülle stated "Following 7 percent growth in the first quarter, we achieved 21.7 percent growth in the second quarter. This figure represents the highest growth rate we have achieved in the 2000s. Turkey became the OECD's second-fastest growing country in the second quarter. During the months when the pandemic's impact was felt deeply, our economy and exports were affected. At that time, we expressed our belief that difficult times would pass and we would enter a period of rapid recovery. Seeing these figures today makes us proud. Export's contribution to growth in the first half of the year was 10.8 percentage points. In other words, half of the growth came from exports. In the breakdown of growth figures, the Services sector grew 45.8 percent and the Industrial sector grew 40.5 percent. These figures have strengthened our conviction that Turkey will rise through exports."

"We are Advancing with Confident Steps Towards Our Goal of a Trade Surplus-Generating Turkey"

Noting that export coverage of imports in the first half of the year rose from 75.9 percent in 2020 to 83.2 percent in the same period of 2021, TİM Chairman İsmail Gülle continued as follows: "We see that net export's contribution to growth in the second quarter is 6.9 percentage points, and net export's contribution to growth in the first half of the year is 3.9 percentage points. These figures are developments that support our progress with confident steps towards our goal of 'A Trade Surplus-Generating Turkey.' These developments show that the predictions we made in the early stages of the pandemic about a V-shaped recovery have materialized and we have even exceeded those forecasts. We are well above the levels of pre-pandemic periods. It should be stressed that beyond these positive effects, Turkey has demonstrated the ability to turn the pandemic-induced crisis into an opportunity by effectively taking advantage of the gaps created in global markets."

"Strong Growth in Exports Continues"

Gülle continued: "We anticipate that the Services sector will make a stronger contribution in the third quarter, and with forecasts that education, human health and social services activities, and finance and insurance activities will show increases as of September, we expect to see strong growth figures both in the third quarter and at year-end. We are grateful to all business people who are growing Turkey's economy through their production, services, and exports. Turkey's economy will continue to grow and rise under the leadership of exports. Our duty is to sustain these gains we have acquired by adorning them with value-added exports and carrying them forward to future generations in a sustainable manner. No one should doubt that we will make good use of the opportunities that come our way. As we move towards our organization's 100th year, the outlook for our exports and our economy is bright."