soL English

Turkish Statistics Institute (TÜİK) published this year’s January-March period Gross National Product. According to the numbers published, Turkey faced the record shrink of economy in its history.

soL (NEWS DESK) During the first quarter of 2009 Turkish economy decreased 13.8%.

Shrinkage of trade exceeds 25% while for agriculture is 3% despite the expectations. Construction and production industries also decreased 19%. Transportation and communication industry decreased 18%. On the other hand difference of expenses between private and public construction industry is obvious as 24% for public and 28% for private..

According to TÜİK’s calculations for his year’s January-March period Gross National Product decreased from 180 Billion Dollars to 127.8 Billion Dollars.

Share of static capital formation in GNP decreased from 25.9% to 21.1%. Another interesting point is decrease of machinery investment of private industries as 30%.