Industry in Turkey

Turkey Industry | Economic News & Forecasts

Turkey - Industry

Industrial production contracts again in November

Industrial production declined 6.5% in November in calendar-adjusted year-on-year terms, a deterioration from October’s 5.7% decrease. November’s reading was driven by contractions in the manufacturing; mining and quarrying; and electricity, gas, steam and air conditioning supply sectors.

On a seasonally- and calendar-adjusted month-on-month basis, industrial output fell 0.3%, up from October’s 2.2% fall. Annual average growth in industrial output fell from 5.7% in October to 4.3% in November.

Industrial production is likely to remain weak in the months ahead due to subdued domestic demand, tight financial conditions and elevated inflation putting pressure on firms’ margins. However, industrial production should gradually improve later this year, as the economy recovers and interest rates decline. FocusEconomics Consensus Forecast panelists expect industrial production to rise 0.7% in 2019 and 3.3% in 2020.

Turkey - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)7.2  5.7  5.8  3.4  8.9  

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Turkey Industry Chart

Turkey Industry
Note: Annual variation of industrial production in %.
Source: Statistical Institute.

Turkey Facts

Bond Yield14.82-0.09 %Feb 20
Exchange Rate5.32-0.85 %Feb 20
Stock Market101,9711.41 %Feb 20

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