Latest reading: Industrial production declined 4.3% on a calendar-adjusted month-on-month basis in August, following 1.3% growth in the prior month,...
Industrial Production in Turkey
The Turkish economy recorded an average industrial production growth rate of 4.6% in the decade to 2024. In 2024, industrial production growth was 0.3%. For more industry information, visit our dedicated page.
Turkey Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Turkey from 2025 to 2023.
Source: Macrobond.
Turkey Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | 1.7 | 17.8 | 4.4 | 1.8 | 0.4 |
Industrial activity deteriorates in July
Latest reading: Industrial output fell 1.8% in month-on-month seasonally adjusted terms in July, which contrasted June's 0.8% increase. July's notable weakening was partly driven by a deterioration in manufacturing production. In contrast, mining and quarrying output dropped at a more moderate pace. On an annual basis, factory output rose at a softer pace of 5.0% in July (June: +8.5% yoy). Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at 1.9% in July, up from June's 1.1%.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Turkish industry projections for the next ten years from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Turkish industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Turkish industry projections.
Want to get access to the full dataset of Turkish industry forecasts? Send an email to info@focus-economics.com.
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