Results of Revision of the National Income in Turkey and Construction Sector: A Comparison with OECD and EU

TURKSTAT’s (Turkish Statistical Institute) 2016 national income revision has brought extraordinary changes that have never seen before in national income series. Comparisons with OECD and the UN countries show that Turkey is in a great divergence from other countries. Strict correlation existing between so many indicators as employment with the series of old national income, importation, consumption of energy, industrial production index etc. has been disappeared largely after the revision. After the revision, the increases in GDP level, growth rate and investment rate in Turkey are incomparably greater than the increases in the other countries. Contribution of the statistical improvements in this increase is 91% in Turkey, 38% in EU-28 and 18% in the countries of OECD. Unlike other countries, more than half of the great increases at the national income levels, growth rates and investments rates in Turkey, emerging after the revision is based on the construction sector