Rising business activity across a range of key export markets for Turkish manufacturers supported an improvement in the overall export markets climate in July, showed a survey on Aug. 10.
The Istanbul Chamber of Industry (İSO) Türkiye Manufacturing Export Markets Climate Index rose to 52.2 in July from 50.4 in June.
Moreover, the latest improvement was the most pronounced in eight months, the survey said. The export markets climate has strengthened on a monthly basis in each month since January 2024, it noted.
Eight of the 10 largest export destinations for Turkish manufacturers saw business activity increase during July.
The Index is calculated by weighting together national PMI data on output trends from PMI surveys.
Any reading above the 50 no-change mark indicates an improvement in the health of the climate in export markets.
“The global economy started the second half of the year on a positive note, and this was evident with regards to growth signals in some of Türkiye’s main export markets,” commented Andrew Harker, economics director at S&P Global Market Intelligence.
Ongoing uncertainty around developments in the Middle East, however, means that there could be more twists and turns over the coming months, he said.
