The construction sector plays an important role in the Turkish Economy. In Turkey, due to growing number of Mega Projects and investments around their location; political dynamics are also part of these economic balances. Furthermore, the expansion of investments in the infrastructure field such as transportation and energy throughout the country and the development of new settlements have been effective in increasing the housing projects.
The direct share of the construction sector in the Turkey's economy is 8% and the indirect share is 30% when different sectors related with construction are taken into account.
When the activities that contribute to Gross Domestic Product (GDP) analyzed according to the data published by TurkStat in January 2019;
- In 2018, the value added of the agricultural sector increased by 1.3%, the industrial sector increased by 1.1%. The value added of the service sector consisting of trade, transportation, accommodation and food service businesses increased by %5.6. However, a decrease of 9% was observed in the construction sector.
- The first estimations of the Gross Domestic Product (GDP) of Q4 shows that; as a chained volume index (2009 = 100), it decreased by 3% in the fourth quarter of 2018 compared to the same quarter of the previous year.
- Gross Domestic Product (GDP) forecast by production method reached to 1,100,114 million TL in the 4th quarter of 2018 with 13.4% of increase in current prices.