Skyline at golden hour in Turkey

Turkey Industry

Turkey Industry

Industrial Production in Turkey

The economy of Turkey recorded an average growth rate of 5.7% in industrial production in the decade to 2022, above the 3.2% average for Eastern Europe. In 2022, industrial production growth was 5.7%. For more industry information, visit our dedicated page.

Turkey Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Turkey from 2014 to 2023.
Source: TURKSTAT.

Turkey Industry Data

2018 2019 2020 2021 2022
Industrial Production (ann. var. %) 1.6 -0.7 1.7 17.8 4.4

Industrial output dips in March

Industrial output fell 0.4% in month-on-month seasonally adjusted terms in March, which contrasted February's 2.9% increase. March's notable weakening was largely driven by a deterioration in manufacturing production. In contrast, mining and quarrying production rebounded. On an annual basis, industrial output rose at a softer pace of 4.2% in March (February: +11.2% yoy). Meanwhile, the trend improved modestly, with the annual average growth of industrial production coming in at an over one-year high of 3.2% in March, up from February's 2.9% reading.

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 6 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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