World Economy

Turkey Factory Production Up

Turkey Factory Production UpTurkey Factory Production Up

Calendar-adjusted industrial production increased by 5.6%, compared to January 2015, according to data released by the Turkish Statistical Institute TurkStat on Tuesday.

Seasonally and calendar-adjusted industrial production increased by 1% in January, compared to the previous month, Anadolu Agency reported.

When looking at industrial sub-sectors for January 2016 (indexed to 2010 and compared with the previous month), mining and quarrying decreased by 2.2%, manufacturing increased by 1.5%, while electricity, gas, steam and air conditioning decreased by 1.1%.

For January 2016, industrial sub-sectors (indexed to 2010 and compared with January 2015), mining and quarrying increased by 4.1% and manufacturing increased by 5.8%, while electricity, gas, steam and air conditioning increased by 5.2%.

According to the main industrial groupings classification, the largest increase in January of 2016, compared with the previous month, was in non-durable consumer goods at 4.3%.

Amongst manufacturing sub-sectors, the largest increase in January 2016, compared with the previous month, was in the manufacture of other transport equipment by 67.5%, followed by the manufacture of basic pharmaceutical products and pharmaceutical preparations by 36.8%, and repair and installation of machinery and equipment by 11.8%.

Despite this, for the seasonally and calendar-adjusted manufacturing industry, the highest decrease was realized in the manufacture of computer, electronic and optical products at 23.8%.

Automotive exports from Turkey increased by 17%, to nearly $2 billion, in February, compared to $1.7 billion in the same month of 2015, the country’s Automotive Industry Exporters’ Union said on March 7, reaching the highest value since 2008.

“The country’s automotive exports to Germany, the UK, France, Italy, Spain and other developed countries increased by up to 48%, compared with the same period of last year,” Orhan Sabuncu, chairman of the association, said.