Turkey's industrial production plummeted 31.4 percent from a year earlier in April of 2020, following a downwardly revised 1.7 percent decrease in the prior month and beating market expectations of a 17 percent slump. It was the worst downturn in industrial activity since available records began in January of 1986, as many factories halted operations due to the Covid-19 crisis. Production of durable consumer goods led the declines, slipping 49.3 percent (vs -15.7 percent in March), followed by capital goods (-42.9 percent vs -6.4 percent), non-durable consumer goods (-31.5 percent vs -2.4 percent), intermediate goods (-27.9 percent vs 2.3 percent) and energy (-15.6 percent vs -1.1 percent). On a seasonally adjusted monthly basis, industrial production sank 30.4 percent, the most on record, compared to a downwardly revised 6.8 percent fall in the previous month.
Industrial Production in Turkey averaged 4.99 percent from 1986 until 2020, reaching an all time high of 27.30 percent in October of 2005 and a record low of -31.40 percent in April of 2020. This page provides the latest reported value for - Turkey Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Turkish Statistical Institute
Industrial Production in Turkey is expected to be -12.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Turkey to stand at 2.50 in 12 months time. In the long-term, the Turkey Industrial Production is projected to trend around 5.40 percent in 2021 and 3.60 percent in 2022, according to our econometric models.