Industrial output jumps 14.4 percent in December

Industrial output jumps 14.4 percent in December

Industrial output jumps 14.4 percent in December

Turkey’s calendar-adjusted industrial production soared 14.4 percent in December 2021 on a yearly basis, according to the latest data released by the Turkish Statistical Institute (TÜİK) on Feb. 11.

“While mining and quarrying index decreased by 1.5 percent, manufacturing index increased by 16.2 percent and electricity, gas, steam and air conditioning supply index increased by 6.0 percent in December 2021 compared with same month of previous year,” said TÜİK.

On a monthly basis, Turkey’s industrial output increased by 1.6 percent in December 2021.

The mining and quarrying sector index dropped by 3.4 percent month on month in December.

Over the month, the gas, steam and air conditioning supply and the the manufacturing indices were up by 0.6 percent and 1.9 percent, respectively, versus November 2021.

Retail sales volume, a marker of growing consumer spending, surged 15.5 percent in December 2021 versus the same month of 2020, TÜİK said in a separate monthly bulletin.

Non-food (except automotive fuel) sales increased by 28.2 percent in December 2021, compared to the same month in 2020.

Automotive fuel sales were up by 2.8 percent, while that of food, drinks and tobacco increased by 1.7 percent over the same period.

Among non-food items, clothing and footwear sales rose the most, climbing 77.3 percent from December 2020. Medical goods and cosmetics sales (16 percent) and computers, books and telecommunications equipment sales (13.1 percent) followed.

Sales by mail order and the internet soared 34.1 percent year on year in December 2021.

On a monthly basis, Turkey’s retail sales volume dropped by 2.7 percent over the month.

The Turkish economy posted an 82.4 percent annual jump in total turnover in December 2021.

The biggest change came in the industry, which shot up 101.4 percent on annual basis, the latest TÜİK figures showed.

The construction sector saw an annual rise of 46.4 percent, while the services and trade indices climbed by 82.9 percent and 77.6 percent, respectively.

“Industry increased by 20.1 percent, trade increased by 11.0 percent, services increased by 7.6 percent and construction decreased by 4.6 percent on a monthly basis in December 2021,” TÜİK said.​​​​​​