ICI Export Markets Climate Index Rose to 50.3 in May 2026
Economic conditions in the main export markets of Turkey's manufacturing sector continued to strengthen for the 29th month with a mild recovery.
According to data released by the Istanbul Chamber of Industry, the Turkey manufacturing sector export markets climate index rose to the 50.3 level in May, carrying its growth trend into the twenty-ninth month.
Moderate Increase in Export Climate
The Istanbul Chamber of Industry Turkey Manufacturing Sector Export Markets Climate Index recorded a slight increase in May, reaching the level of 50.3. Having stood at 50.2 in April, the index thus returned to its March value.
The fact that the index remained above the threshold value of 50 demonstrates that the improvement process in the export climate continues uninterruptedly.
Signs of Weakening in the European Market
While some key European markets showed signs of weakness in May, Germany and France continued their declines in production. The contraction in France reached its most pronounced level since January 2024.
Manufacturing industry output in the United Kingdom also re-entered a downward trend in May.
Economic Activities in Other Countries
While production declined in Romania and Russia, highly limited growth was recorded in Italy and Spain. In the US, economic activity continued to increase, reaching its fortieth month.
The growth rate in the US materialized at a more moderate pace compared to April.
Situation in Middle East and Asian Markets
While signs of recovery were observed in the Middle East, non-oil production in the United Arab Emirates recorded its strongest growth in the last three months. Economic expansion also gained momentum in Saudi Arabia.
On a global scale, the strongest production increase took place in Singapore, followed by India.