DECLINE IN IMPORTS IS THE MAIN DETERMINANT OF GDP GROWTH
Ozan Bakış ve Gökhan Dilek
In the first quarter of 2021, the economy is not affected by the pandemic. The separation of economic activities from lockdown measures is effective in this situation. By expenditure method, the GDP grows by 7 percent compared to the same quarter of the previous year, with the biggest contribution coming from investment and private consumption expenditures. When we look at the seasonally and calendar adjusted data, we see that the GDP grows by 1.7 percent compared to the previous quarter and this growth is almost entirely due to the decrease in imports. Both annual and quarterly growth figures show that the Turkish economy is not affected by the pandemic in the first quarter. Undoubtedly, the separation of economic activities from the restrictions on the epidemic plays an important role in this.