Turkey's economy grows 7.4% in 2017

Turkey's economy grows 7.4% in 2017

Turkey's economy grew 7.4%in 2017, compared with the previous year, the Turkish Statistical Institute (TurkStat) said.

GDP at current prices climbed to over 3.1 trillion Turkish liras (nearly $850.7 billion) last year, up 19% from 2016, according to TurkStat.

The total value added of services and industry rose by 10.7% and 9.2%, respectively, while the construction sector boasted a 8.9%. The agricultural sector enjoyed a 4.7% hike in 2017, compared to 2016, Anadolu Agency reported.

TurkStat also revealed that Turkish economic growth in the last quarter of 2017 reached 7.3%, compared with the same quarter of previous year.

"Gross domestic product increased by 19% and reached 889.2 billion liras ($234 billion) at current prices," it said.

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