Industry in Turkey

Turkey Industry | Economic News & Forecasts

Turkey - Industry

Industrial production falls sharply in October

Industrial production declined 5.7% in October in calendar-adjusted year-on-year terms, a deterioration from September’s revised 2.4% decrease (previously reported: -2.7% year-on-year). October’s reading was driven by contractions in the manufacturing, and electricity, gas, steam and air conditioning supply sectors, while the mining and quarrying sector grew solidly.

On a seasonally- and calendar-adjusted month-on-month basis, industrial output fell 1.9%, up from September’s 2.6% drop. Annual average growth in industrial output fell from 6.9% in September to 5.7% in October.

Industrial production is likely to remain soft 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 next year and the year after, with FocusEconomics Consensus Forecast panelists expecting industrial production to rise 1.7% in 2019 and 3.8% 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

ValueChangeDate
Bond Yield17.30-0.09 %Dec 14
Exchange Rate5.36-0.85 %Dec 14
Stock Market90,5291.41 %Dec 14

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