Markets Actual Q1/25 Q2/25 Q3/25 Q4/25
Currency 36.63 36.56 36.62 36.67 36.72
Stock Market (points) 10883.04 10767 10693 10621 10549
Government Bond 10Y (%) 26.40 26.17 26.1 26.04 25.98

Overview Actual Q1/25 Q2/25 Q3/25 Q4/25
GDP Growth Rate (%) 1.70 0.9 1.1 0.5 0.9
GDP Annual Growth Rate (%) 3.00 2.2 2 2.6 2.7
Unemployment Rate (%) 8.40 8.8 9.1 8.9 8.7
Inflation Rate (%) 39.05 40 36 29 24
Inflation Rate MoM (%) 2.27 1.8 2.1 2.5 1.8
Interest Rate (%) 42.50 42.5 37.5 33 29
Balance of Trade (USD Million) -8154.00 -5900 -2600 -3400 -5000
Current Account (USD Million) -3795.00 -3200 -2600 -3900 -3400
Manufacturing PMI (points) 48.30 48.8 49.9 50.5 51
Business Confidence (points) 102.40 102 105 104 102
Retail Sales MoM (%) 2.00 -0.6 0.8 1 0.7
Consumer Confidence (points) 82.10 82.9 83 84 85
Current Account to GDP (% of GDP) -4.00 -2.8
Government Debt to GDP (% of GDP) 29.50 30
Government Budget (% of GDP) -5.20 -4.8

GDP Actual Q1/25 Q2/25 Q3/25 Q4/25
GDP Growth Rate (%) 1.70 0.9 1.1 0.5 0.9
GDP Annual Growth Rate (%) 3.00 2.2 2 2.6 2.7
GDP Constant Prices (TRY Thousand) 626966328.00 529506542 554113284 629170705 643894419
Gross Fixed Capital Formation (TRY Thousand) 162308254.00 136028504 138931938 150579702 166690577
GDP from Agriculture (TRY Thousand) 28375071.00 11715521 19600470 63652675 29141198
GDP from Construction (TRY Thousand) 29449332.00 27372426 30536192 32181579 30244464
GDP from Public Administration (TRY Thousand) 57711888.00 57323202 54561910 59526322 59270109
GDP from Services (TRY Thousand) 164040457.00 137742990 149503426 155692110 168469549
GDP from Manufacturing (TRY Thousand) 99824651.00 95279564 88567707 91930391 102519917
GDP (USD Billion) 1118.25 1152
GDP per Capita (USD) 14713.57 15155
GDP per Capita PPP (USD) 34251.58 35279
Full Year GDP Growth (%) 3.20 3

Labour Actual Q1/25 Q2/25 Q3/25 Q4/25
Unemployment Rate (%) 8.40 8.8 9.1 8.9 8.7
Employed Persons (Thousand ) 32531.00 32750 32700 32600 32650
Labor Force Participation Rate (%) 53.70 54.4 54.5 54.6 54.5
Youth Unemployment Rate (%) 14.90 15.3 15.6 15.4 15.2
Labour Costs (points) 742.10 880 976 906 920
Minimum Wages (TRY/Month) 26005.50 26006 26006 26006 26006
Population (Million) 85.67 85.95

Prices Actual Q1/25 Q2/25 Q3/25 Q4/25
Inflation Rate (%) 39.05 40 36 29 24
Inflation Rate MoM (%) 2.27 1.8 2.1 2.5 1.8
Consumer Price Index CPI (points) 2883.75 2995 3154 3259 3329
Core Consumer Prices (points) 2275.17 2328 2486 2599 2646
Core Inflation Rate (%) 40.21 38.6 35.4 29.5 25
GDP Deflator (points) 249.20 288 294 314 309
Producer Prices (points) 3943.01 4063 4176 4209 4215
Producer Prices Change (%) 25.21 24.9 19.9 15 12.5
Food Inflation (%) 35.11 36 32 28 25
Producer Price Inflation MoM (%) 2.12 2.3 1 0.7 1.2
Harmonised Consumer Prices (points) 1081.77 1149 1210 1250 1277
CPI Transportation (points) 2925.79 2978 3041 3117 3173
CPI Housing Utilities (points) 3290.27 2789 3053 3527 3634

Money Actual Q1/25 Q2/25 Q3/25 Q4/25
Interest Rate (%) 42.50 42.5 37.5 33 29
Deposit Interest Rate (%) 41.00 41 36 31.5 27.5
Lending Rate (%) 44.00 44 39 34.5 30.5
Private Debt to GDP (%) 147.80 155

Trade Actual Q1/25 Q2/25 Q3/25 Q4/25
Balance of Trade (USD Million) -8154.00 -5900 -2600 -3400 -5000
Current Account (USD Million) -3795.00 -3200 -2600 -3900 -3400
Exports (USD Million) 20776.00 23200 20200 22500 23400
Imports (USD Million) 28930.00 29100 22800 25900 28400
Tourism Revenues (USD Million) 13788.00 9100 15100 24200 14500
Tourist Arrivals 2171118.00 2730000 5908000 6090000 2623000
Current Account to GDP (% of GDP) -4.00 -2.8

Government Actual Q1/25 Q2/25 Q3/25 Q4/25
Government Debt (TRY Million) 9579300.00 9900000 11000000 12200000 14100000
Treasury Cash Balance (TRY Million) -397602.00 -200000 -440000 -220000 -320000
Government Debt to GDP (% of GDP) 29.50 30
Government Budget (% of GDP) -5.20 -4.8

Business Actual Q1/25 Q2/25 Q3/25 Q4/25
Manufacturing PMI (points) 48.30 48.8 49.9 50.5 51
Business Confidence (points) 102.40 102 105 104 102
Industrial Production (%) 1.20 -2.5 3.2 2.5 4
Industrial Production Mom (%) -2.30 1.5 -2.3 0.8 1.2
Manufacturing Production (%) 1.20 -2.3 3 2.2 3.7
Capacity Utilization (%) 74.50 74.9 75.5 76 75.9
Car Production (Units) 114346.00 133469 103167 126161 128159

Consumer Actual Q1/25 Q2/25 Q3/25 Q4/25
Retail Sales MoM (%) 2.00 -0.6 0.8 1 0.7
Consumer Confidence (points) 82.10 82.9 83 84 85
Retail Sales YoY (%) 12.50 7.8 5.1 4 4.5
Consumer Spending (TRY Thousand) 480176761.00 403537343 414853101 459557782 493141534
Consumer Credit (TRY Thousand) 3853109630.00 2998226685 3188584824 3467705931 3862087915
Gasoline Prices (USD/Liter) 1.29 1.3 1.3 1.31 1.31
Economic Optimism Index (points) 99.20 100 99 100 101