TURKEY Database (Indicators)

The collection of this data enables us to analyze the relations between the different indicators that a country's economy uses. In this case, we will be looking at GDP, Unemployment Rate, and Real GDP Growth. GDP is the general indicator of a nation's production that basically tells us that country's income. There are three different methods of measuring GDP: income, expenditure, and the output approaches. Particularly, some of the components of the expenditure formula are included in this data table: government expenditure (G), investment expenditure (I) and household consumption (C). However, to calculate GDP we would still need the net exports (X-M).

This database offers the indicators provided by the government of Turkey. In this analysis the base year will be 2009. Overall, we can see an increase in the GDP (increases every year), whereas unemployment rate falls and then increases again. Real GDP growth shows a very bumpy trend, where there's no real pattern. From 2009-2010 it decreases, then in the 2010-2011 period it increases to fall again until the year 2013. Something else that helps us connect the pieces of this puzzle is the inflation rate: from 2011-2012 it decreases to rise again from 2013-2014. Inflation affects GDP and also the Real GDP growth; in 2011 and 2012 the inflation rate increases and so does the GDP. This is caused by the increase in price of the country, which boosted the nation's income as well. Unfortunately, data of the year 2013 is not included. In that same year the inflation rate decreases drastically, which may have affected the nation's GDP. When talking of Real GDP growth, we can see that it decreases when the inflation decreases, showing us the real concept of it: the indicator is basically equal to the nominal GDP divided by the GDP deflator; this makes it a more realistic measure of it. One other aspect is household consumption, which increases throughout the whole period. This shows how the people of the country have developed and how they are gaining more money to spend each year. Overall, Turkey is increasing its income, since the GDP indicator has increased year by year over the past 3 years.