Turkiye's industrial sector decreases marginally in May 2023: Turkstat

13 Jul 23 1 min read

Insights

  • Turkiye's industrial production declined 0.2 per cent YoY in May 2023, according to Turkish Statistical Institute (Turkstat).
  • The country's manufacturing index increased 0.6 per cent in May 2023, compared to May 2022.
  • The electricity, gas, steam, and air conditioning index dropped 1.3 per cent YoY in May 2023 but saw a monthly rise of 2.4 per cent.
Turkiye's industrial production decreased by 0.2 per cent year-on-year in May 2023, according to the recent data by the Turkish Statistical Institute (Turkstat). Despite the overall decrease in industrial output, the manufacturing index, a key component of industrial production, saw an increase of 0.6 per cent compared to May 2022.

However, the electricity, gas, steam, and air conditioning supply index recorded a drop of 1.3 per cent in the same timeframe, as per Turkstat.

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On a positive note, when compared with the previous month, both subsectors demonstrated growth. The manufacturing index marked an increase of 0.9 per cent, and the electricity, gas, steam, and air conditioning supply index grew by a significant 2.4 per cent in May 2023.

Fibre2Fashion News Desk (DP)

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