Russia: Industrial output records lowest expansion in over a year in June
Industrial output rose 1.9% year on year in June (May: +5.3% yoy). The result marked the worst reading since March...
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: Macrobond.
Turkey Industry Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -0.7 | 1.7 | 17.8 | 4.4 | 1.8 |
Industrial output improves in May
Industrial output grew 1.6% in month-on-month seasonally adjusted terms in May, which contrasted April's 5.0% decrease. The improvement was largely driven by a notable rebound in manufacturing output. In contrast, mining and quarrying output fell. On an annual basis, factory output fell 0.1% in May, easing from April’s 0.7% fall. Meanwhile, annual average of industrial production was stable coming in at April's 3.3% in May.
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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