Skyline at golden hour in Turkey

Turkey Industrial production March 2020

Turkey: Industrial activity falls at sharpest rate since August in March

Industrial production decreased 2.0% year-on-year in March (February: +8.5% yoy; previously reported: +7.5% yoy). March’s result marked the worst reading since August 2019. The weakening was due to a drop in mining and quarrying output, while manufacturing and energy output also fell. Meanwhile, annual average growth of industrial production was stable at 1.8% in March.

On a seasonally- and calendar-adjusted monthly basis, industrial production fell 7.1% in March (February: +1.9% mom). The reading marked the worst result on record and came on the back of government-imposed restrictive measures to curb the spread of Covid-19.

This year, industrial activity is expected to shrink due to the economic impact of Covid-19, which has extinguished economic activity. The duration of restrictive measures remains uncertain and will have a key bearing on the return of domestic and foreign demand.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest