The gross domestic product (GDP) fell by 0.3% in the first quarter of 2023 on the fourth quarter of 2022 after adjustment for price, seasonal and calendar variations. Government final consumption expenditure also decreased appreciably by 4.9% compared with the previous quarter. By contrast, investment was up from the fourth quarter of 2022: following a weak second half of 2022, gross fixed capital formation in construction rose significantly by 3.9% (after adjustment for price, seasonal and calendar variations). Positive contributions also came from foreign trade: compared with the fourth quarter of 2022, exports of goods and services were up a total of 0.4%, after price, seasonal and calendar adjustment, with trade with plastics and fabricated metal products particularly showing robust growth. In the first quarter of 2023, the price, seasonally and calendar adjusted gross value added increased by a total of 0.9% from the previous quarter.
Post by: Republic of Türkiye Ministry of Trade