Industry in Turkey

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Turkey - Industry

Industrial production growth ticks up slightly in May

Industrial production rose 6.4% in May in calendar-adjusted year-on-year terms, ticking up slightly from April’s revised 6.3% (previously reported: +6.2% yoy) and putting a stop to four consecutive monthly slowdowns.

May’s expansion was driven by a surge in the mining and quarrying sector and a solid performance from the manufacturing sector, while the electricity, gas and steam sector recorded a more modest expansion. However, on a seasonally- and calendar-adjusted month-on-month basis, industrial production shrank 1.6%, marking the worst reading in nearly two years and contrasting the previous month’s 1.0% growth.

Annual average growth in industrial output inched up from 9.9% in April to 10.0% in May.


Turkey Industrial Production Forecast


In annual terms, industrial production growth is likely to lose steam during the rest of the year. This is partly due to tough year-on-year comparatives, but is also a reflection of tighter financial conditions. FocusEconomics Consensus Forecast panelists expect industrial production to rise 4.6% in 2018 and 4.0% in 2019.

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 Yield20.59-0.09 %Aug 15
Exchange Rate5.99-0.85 %Aug 15
Stock Market90,2631.41 %Aug 15

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