Latest News from Turkey
Turkey Extends Flight Suspensions Amid Escalating Middle East Conflict
Turkey has extended suspensions of flights due to the worsening Middle East conflict. This measure affects air travel as regional tensions rise. Authorities are monitoring the situation closely.
Turkish F-16 Crashes After Takeoff, Pilot Killed
A Turkish F-16 fighter jet crashed shortly after takeoff, resulting in the pilot's death. The incident occurred amid heightened military activities. Investigations into the cause are underway.
Turkey's Far-Right Leader Calls for Action
Turkey's far-right leader has called for strong measures in response to recent events. The statements come amid regional instability. Details on specific demands were not elaborated.
Turkish Economy Grows 3.6% in 2025, Exceeding Target
Turkey's GDP expanded by 3.6% year-over-year in 2025, surpassing the 3.3% target set in the Medium-Term Program. Growth was driven by domestic demand, with private consumption up 5.2% and investment surging 5.4%.
TurkStat announced the data on March 2.
Q4 2025 GDP Growth Slows to 3.4% Year-on-Year
In Q4 2025, Turkey's economy grew 3.4% y/y and 0.4% q/q, down from prior quarters. Construction led sectoral growth at 10.8%, while agriculture contracted 8.8% due to weather.
Net trade dragged growth with exports down 0.3% and imports up 4.9% annually.
Treasury Minister Simsek Optimistic for 2026 Growth
Treasury and Finance Minister Mehmet Şimşek stated that partner demand and better financial conditions will boost 2026 growth, assuming geopolitical risks ease. Government targets 3.8% expansion this year.
Analysts expect steady pace driven by consumption and infrastructure.
Day-Trip Crossings Suspended at Iran Border Gates
Turkey and Iran mutually suspended day-trip crossings at three border gates, announced by Turkey's trade minister on Monday. This follows escalating regional tensions. Trade impacts are being assessed.
Turkey Walks Tightrope as US-Iran Conflict Escalates
Turkey faces risks from the escalating US-Iran conflict at its border, paying a heavy price for neighboring instability. The situation threatens spillover effects. Ankara is navigating delicate diplomacy.
Trade Imbalance Raises Concerns Amid GDP Slowdown
Q4 growth slowed with exports contracting 4.5% q/q and imports rising 4.3%, widening the current account deficit. Rising oil prices from Iran developments add pressure. Central bank may pause rate cuts.
Construction Sector Leads 2025 Growth at 10.8%
Construction saw the strongest growth in 2025 at 10.8%, followed by information and communication at 8%. Gross fixed capital formation rose 7% annually.
This underpinned overall economic expansion.
Agriculture Sector Contracts 8.8% Due to Weather
The agriculture, forestry, and fishing sector shrank 8.8% in 2025 owing to adverse weather conditions. This was a key drag on GDP. Sectoral disparities highlight economic challenges.