Turkey has become the fastest growing economy among G20, regarding to the yearly growth figures.
The share of net exports has become 0.15 points in the 7.4% growth in 2017.
As we surpassed the big players of world trade in export growth, our annual GDP growth ratio in 2017 has also surpassed the worlds' major countries like China and India.
Chairman of the Turkish Exporters' Assembly, Mehmet Buyukeksi made a statement regarding the 2017 last quarter's growth ratio. He underlined that “Turkey's economy has grown 7.4% annually in 2017 and overtook all the expectations.”
He continued his words as following:
“At the beginning of 2017, we have announced that Turkey has overcame the political and economic troubles that happened in 2016, and 2017 would be a “Year of Breakthrough” for Turkey's economy. Likewise our exports have increased by 10.2% and displayed a tremendous performance which is above the world average. With our 71 thousand exporters, Turkish products has entered 237 countries and regions and Turkey's share in world exports has reached 0.89%. With the growth date of the last quarter in 2017, our annual growth rate has surpassed all the countries in G20.
The share of our exporters in this success can't be underestimated. The share of the net exports is 0.15 points in the 7.4% growth rate. As in individual contributions, total exports contributed by 2.55 points and total imports made a negative contribution of -2.44 points. I hereby congratulate our exporters for both their success in export figures and their positive contribution to the growth. On the other hand, our Minister of Economy Nihat Zeybekci, showed his support in every step and cleared the road to success for us in this achievement.
Moreover, as exporters, we made a promise to our President Recep Tayyip Erdogan that we are going to advance in employment at the beginning of 2017. As promised, we have witnessed a positive progression in unemployment rate, which has decreased to 10.4% from 13%.
This growth figure is proof that, Turkey is a strong and dedicated country to become a major player in the international arena despite the geopolitical turmoil in the surrounding region. We believe that, with the efforts of our exporters and the support of our government, our future growth figures will also display a similar performance. 2018 will be a year of records in export figures and our economy will continue to perform above the world average as it did in 2017.”