The Turkish Statistical Institute (TurkStat) announced a comprehensive revision of the country’s National Accounts System, updating data infrastructure, classifications, and calculation methods in collaboration with Eurostat, the statistical office of the European Union.
In a statement, TurkStat emphasized that the National Accounts System is designed to measure a country’s economic activities, components, and interrelations within a given period. Given the dynamic nature of economies, periodic updates are necessary, and in line with the “Harmonized European Revision Policy,” a major revision is conducted every five years. EU member states carried out their latest main revisions last year, and Turkey has now aligned its system accordingly.
The revisions include the use of new administrative data sources, enhanced integration of e-invoice records, and updates to surveys and IT infrastructure. As a result, supply and use tables and input-output tables have been recalculated at a more detailed (A-64) level, ensuring full balance in GDP calculations. For the years 2015–2023, production and expenditure components were fully rebalanced, while historical series were extended back to 1995 at different levels of classification.
The statement underlined that quarterly GDP figures by production, expenditure, and income methods have been revised, with updated administrative data incorporated into the system. Chain-linked volume indices were recalculated using deflators to strip out price effects, with 2009 remaining as the base year (2009=100). Both nominal and real GDP series have now been revised back to 1995.
As part of the income-based GDP revision, labor compensation data and informal economy adjustment ratios were updated, along with other components such as consumption of fixed capital and taxes. Consequently, the “operating surplus/mixed income” variable was also revised, with all income-side components recalculated back to 1995.
Another significant update is the inclusion of Syrians under temporary protection in mid-year population figures for GDP per capita calculations. Based on data provided by the Directorate General of Migration Management, revisions were made to GDP per capita figures for the years 2013–2024.
The updated national accounts data will be reflected in upcoming statistical bulletins, including General Government Accounts 2024 (October 2), Institutional Sector Accounts 2024 (October 9), and Gross Domestic Product by Province 2024 (December 11). With these revisions, TurkStat stated that all account sets within the national accounts framework have been comprehensively balanced and will be shared with the public.
Source: Bloomberght/ Prepared by: İlayda Gök