Turkey Industrial production December 2020


Turkey: Industrial output grows at a softer pace in December

February 12, 2021

Industrial output grew 9.0% in year-on-year terms in December, down from November’s 11.0% increase. The print reflected softer growth in manufacturing and electricity, gas and steam output, while mining and quarrying production accelerated.

Meanwhile, annual average industrial production growth was stable at November’s 1.5% in December. Despite the impact of the global pandemic, output recovered from 2019’s contraction last year.

Lastly, output rose 1.3% month-on-month in December, unchanged from November’s print.

FocusEconomics panelists see industrial production increasing 4.2% in 2021, which is down 0.2 percentage points from the previous month’s forecast. For 2022, our panelists expect industrial production to increase 3.3%.


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Turkey Industrial production Chart

Turkey Industry December 20 20

Note: Annual and monthly variation of industrial production index in %.
Source: Turkish Statistical Institute (TurkStat) and FocusEconomics calculations.

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