Turkey’s Economy on a Steady Path, Show Industry Figures of July

​Freeing itself from the devastating impacts of the COVID-19 outbreak, Turkey maintained the upward trend in industrial production, retail sales and total turnover indices in 2020 July.
Turkey’s industrial production index in July 2020 posted a 4.4 percent increase year-on-year, said Turkish Statistical Institute (TurkStat). From a sector-based perspective, manufacturing index took the lead with a 5.1 percent increase, while electricity, gas, steam and air conditioning supply indices rose by 1.4 percent in July.
Also, in comparison with the same month of 2019, retail sales volume boosted by 11.9 percent in July 2020. Sales of food, drinks and tobacco was on a rise of 12.3 percent, whereas non-food sales increased by 13.9 percent.
Meanwhile, Turkey’s total turnover index, including industry, construction, trade and services sectors, annually jumped by 20.2 percent in the same month. While the increase posted by the industry sector was 20.2 percent, construction and trade sectors completed the month with a rise of 14.9 percent and 32.9 percent y-o-y.

Source: Investment Office of Republic of Turkey
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