The annual average Gross National Product (GNP) growth rate of the Turkish economy was 5.3% during 1980-1990 and 4.5% during 1990-1998, a much better performance than the world average. Although the economy receded by 3.1% during 1999-2001 as a result of the financial crises of the period, it successfully recovered and has maintained an annual average growth rate of 7.4% since 2002.
In 2005 the growth in Gross Domestic Product (GDP) was 7.4%. The basic reasons for that high growth were private consumption and private sector fixed capital investments, as in 2004. In 2006, the GDP showed an increase of 6%. In this, while the share of private consumption and investments were decreasing, the contribution of net exports had increased after 5 years and reached 0.3 points. In the 4th period of 2007, GDP has increased 3.4% in comparision to the same period the year before.
Comparing shares in GDP sectors in 2007 with those of 2006, with the fixed prices of 1998, gives -6.8% for agriculture, 5.5% for industry, and -1.5% for services. The rates of added value have been decreased by 3% for the agriculture sector and by 5.5% for the industry sector. In the services sector, the added value has increased at a rate of 6.2%. The building sector added value was realized at a 6.3% increase and contributed 0.5% to growth.
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