On June 30, the Turkish Statistical Institute (TUIK) announced that Turkey's gross domestic product (GDP) in the first quarter of 2009 indicated a 2.2 percent decrease to TRY 210.997 billion (approx. US$137.525 billion) in current prices and a 13.8 percent decrease to TRY 21.145 billion (approx. US$13.786 billion) in constant prices, both compared to the same quarter in the previous year. This 13.8 percent decrease, which is the most severe in Turkey since the contraction of 15.3 percent recorded in 1945, is the country's second consecutive decrease in GDP following the decline of 6.2 percent recorded in the last quarter of the previous year
Accordingly, Turkey's mining industry contracted by three percent year on year during the first quarter of this year, while the construction industry shrank by 18.9 percent.