Turkey’s industrial production beats expectations

Turkish industrial production followed an upward trend in June, strengthening its outlook for second quarter

Photo by: AA
Photo by: AA

Industrial production, a leading indicator of a country’s growth, climbed 5.5 percent in June, beating the expected growth of 3.0 percent, reported the Turkish Statistical Institute (TUIK) on Friday. 

Production of non-durable consumer goods' increased in June, up 13.3 percent from the previous month, while the output of capital goods rose 5.1 percent. 

Manufacturing increased by 6.9 percent compared to the same month last year, driven by a 32.9 percent hike in transport equipment. The manufacture of computers, electronics and optical products came second as it rose 19.8 percent. Meanwhile, mining and quarrying output fell 6.6 percent.

Minister of Science, Industry and Technology Fikri Isik evaluated June’s data and reported that despite external volatility, Turkey’s industrial production picked up speed, beating expectations.


TRTWorld and agencies