Industrial Production in Turkey
The economy of Turkey recorded an average growth rate of 5.7% in industrial production in the decade to 2022, above the 3.2% average for Eastern Europe. In 2022, industrial production growth was 5.7%. For more industry information, visit our dedicated page.
Turkey Industry Chart
Turkey Industry Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 1.6 | -0.8 | 1.8 | 17.8 | 5.7 |
Industrial output bounces back in December
Industrial output increased 2.4% month-on-month in seasonally adjusted terms in December (November: -1.4% mom). The print marked the best reading since March. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying and energy sub-sectors all improving in December. On an annual basis, industrial production increased 1.6% in December, which was notably better than November’s 0.1% uptick. Accordingly, the trend improved, with the annual average growth of industrial production coming in at 0.9%, up from November's 0.7%.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Turkish industry projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Turkish industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Turkish industry projections.
Want to get access to the full dataset of Turkish industry forecasts? Send an email to info@focus-economics.com.
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