HOUSEHOLDS’ CONSUMPTION AND EXPORT HAS DRIVEN GROWTH
Ozan Bakış and Uğurcan Acar
The Turkish economy has grown 7.3 percent in the first quarter of 2022. The biggest contribution to the growth has come from private consumption with 10.5 percentage points. The net foreign trade has contributed to the growth by 4.9 percentage points. According to the seasonally and calendar adjusted series, the GDP has grown by 1.2 percent compared to the previous quarter with the contribution of stock changes and imports. Private consumption reduced quarterly growth by two percentage points.