Tamer Kıran, Chairman of the Board of Directors of Istanbul and Marmara, Aegean, Mediterranean, and Black Sea Regions Chamber of Shipping, evaluated the Gross Domestic Product data for the last quarter of 2021 announced by the Turkish Statistical Institute.
Tamer Kıran noted that in line with the expectations, the Turkish economy grew by 9.1 percent in the last quarter of 2021 and 11 percent throughout the year. Thus, Tamer Kıran pointed out that growth well above the average growth rate of OECD countries and even the world economy was achieved.
“We have doubled the global economic growth rate. More importantly, instead of a syndrome in which we grew up with a high current account deficit, this time the current account deficit was reduced from 35.5 billion dollars in 2020 to 14.9 billion dollars, and historically significant growth was achieved. We hope to create a balance of payments structure that will not allow the financial risk to rise while ensuring our stable growth.
In addition to the announced growth rate, it is noteworthy that the current national income in dollar terms has started to rise again after 6 years. Gross Domestic Product, which was 717 billion dollars in 2020, increased by 12 percent to 802.7 billion dollars at the end of 2021. Throughout the year, our exports of goods and services made a significant contribution to growth. Household consumption is also observed to be high.
One thing we will especially mention is that the Turkish economy has shown high growth in correlation with the recovery in global trade, and in this sense, our maritime companies, which are the main carriers of our foreign trade, have a great responsibility.”