First estimation of Gross Domestic Product (GDP) with chain linked volume index increased by 4.5% compared with the same quarter of the previous year in the first quarter of 2020, Turkish Statistical Institute said in a statement on Friday.

Industry sector increased by 6.2% in the first quarter of 2020

According to the statement, when the activities which constitute gross domestic product were analyzed; the value added increased by 12.1% in the other service activities, 10.7% in information and communication, 6.2% in industry, 4.6% in public administration, education, human health and social work activities, 3.4% in services, 3.0% in  agriculture, 2.4% in real estate activities, 1.9% in professional, administrative and support service activities and 1.6% in financial and insurance activities. Construction sector decreased by 1.5%.

Seasonally and calendar adjusted GDP with chain linked volume index (2009=100) increased by 0.6% compared with previous quarter. Calendar adjusted GDP with chain linked volume index (2009=100) increased by 4.2% compared with the same quarter of the previous year in the first quarter of 2020.

GDP reached 1 trillion 71 billion 98 million TRY at current prices in the first quarter of 2020

Gross domestic product increased by 16.2% and reached 1 trillion 71 billion 98 million TRY at current prices. GDP realized 176 billion 146 million US Dollars in the first quarter of 2020.

Government final consumption expenditure increased by 6.2% in the first quarter of 2020

Government final consumption increased by 6.2%, final consumption expenditure of resident households and NPISH increased by 5.1% and gross fixed capital formation decreased by 1.4% in the first quarter of 2020 compared with the same quarter of the previous year in the chained linked volume index.

Imports of goods and services increased by 22.1%, exports decreased by 1.0%

Imports of goods and services increased by 22.1% in the first quarter of 2020 compared with the same quarter of the previous year in the chained linked volume index, exports of goods and services decreased by 1.0%.

Compensation of employees increased by 14.6% in the first quarter of 2020

Compensation of employees and net operating surplus/mixed income are increased by 14.6% and 19.6% in the first quarter of 2020 compared with the same quarter of the previous year, respectively.

The share of compensation of employees in Gross Value Added was 38.6%

The share of compensation of employees in the Gross Value Added at current prices was 38.6% in the first quarter of 2020 while it was 39.0% in the previous year. The share of net operating surplus/mixed income was 42.1% while it was 40.7% in the same quarter of the previous year. (ILKHA)