Turkey passes Eurozone in growth

First quarter growthin Turkey's economy announced 3 percent.

Turkey passes Eurozone in growth
First quarter growth of 3 percent in Turkey's economy has been better than all 17 countries of Eurozone and 26 of 28 countries of European Union.

Turkish Statistical Institution (TurkStat) announced first quarter growth of Turkish economy as 3 percent.

According to first quarter data revised by Statistical Office of EU (Eurostat), economy of Eurozone narrowed 1.1 percent and EU economy shrank 0.7 percent on annual base. Compared to the previous quarter, gross domestic product was down by 0.3 percent in Eurozone and 0.1 percent in EU.

According to AA reporter’s compilation from Eurostat and TurkStat data, Turkey's 3 percent growth is over the averages of Eurozone and EU. The fastest narrowing economy of EU was Greece with 5.6 percent on annual base at first quarter of 2013.

Turkey’s economy increased its gross domestic product by 3.3 percent at the first quarter of 2012, 2.9 percent at second quarter, 1.6 percent at third quarter and 1.4 percent at fourth quarter.

Compared to same period of 2012, US, the world's largest economy, recorded a 1.6 percent growth and Japan 0.2 percent.

According to data of Eurostat and TurkStat, annual growth rates as of first quarter of 2013 are as follows:

Greece

-5.6

South Cyprus

-4.3

Portuguese

-4.0

Slovenia

-3.3

Italy

-2.4

Czech Republic 

-2.4

Finland

-2.2

Spain

-2.0

Croatia

-1.5

Netherlands

-1.4

Euro Zone

-1.1

Ireland

-1.0

EU (28)

-0.7

EU (27)

-0.7

Denmark

-0.7

Belgium

-0.6

France

-0.4

Germany

-0.3

Hungary

-0.3

Austria

 0.0

Norway

 0.0

Japan

 0.2

England

 0.3

Bulgaria

 0.4

Poland

 0.5

Slovakia

 0.8

Luxemburg

 1.0

Estonia

 1.1

Switzerland

 1.4

USA

 1.6

Swiss

 1.7

Malta

 1.7

Romania

 2.2

Turkey

 3.0

Iceland

 3.1

Lithuania

 4.1

Latvia

 6.0

 AA

Güncelleme Tarihi: 04 Temmuz 2013, 16:18
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