Turkish industrial output rises 3.2 percent in June

Turkish industrial output rises 3.2 percent in June

ANKARA – Anadolu Agency
Turkish industrial output rises 3.2 percent in June

Turkey’s industrial output rose 3.2 percent this June compared to the same month last year, the country’s statistics agency announced on Aug. 16.

Among the three main sub-indices, the mining and quarrying index saw the highest annual increase in June, with 7.2 percent, according to the Turkish Statistical Institute.

The electricity, gas, steam, and air conditioning supply index rose 4.6 percent, while the manufacturing index was up 2.9 percent during the same period.

On a monthly basis, the figure fell 2 percent in June compared to May.

All sub-sectors of the seasonal and calendar-adjusted industrial sector slipped month-on-month in June.

The mining and quarrying index dropped the most, down 5.1 percent from May.

The manufacturing and electricity index slipped 2.2 percent, and the gas, steam and air conditioning supply index dropped 2.1 percent.

Industrial production is considered a vital indicator for the economy, as it is seen as a preliminary gauge for GDP growth.

Turkey’s Industry and Technology Minister Mustafa Varank said the economy is going “robustly” as led by its industry.

“The 17.9 percent rise in high technology production is the mark of a trend we want to capitalize on,” he said.

“Our robust industry infrastructure and dynamic entrepreneurs are our most important core supporters in the fight against external and internal attacks on our country,” he added.

Varank also said the recovery of the country’s export markets and its buoyant tourism sector are contributing to industry.

Turkish economy, Mustafa Varank, turkish industry, tüik