Turkey's Export Markets Climate Index Rose in September
According to data from the Istanbul Chamber of Industry, the export climate reached 53.2 in September, seeing its highest level in the last 52 months.
The ICI Export Markets Climate Index, which tracks the main external market conditions of Turkey's manufacturing sector, increased in September, continuing its course above the threshold value since January 2024 and settling at the peak of the last 52 months.
Index Level and Developments
The Turkey Manufacturing Sector Export Markets Climate Index, announced by the Istanbul Chamber of Industry, rose to 53.2 in September, leaving behind the 52.7 level recorded in August. With this result, the improvement process of demand conditions in external markets gained momentum for the fifth consecutive month.
International Market Distribution
In September, production growth was recorded in nine of the top ten export markets of the Turkish manufacturing industry. During this period, Poland was recorded as the only exceptional market experiencing a significant decline in manufacturing industry production.
Production Trends by Region
Economic activity in the U.S. reached its highest pace in over five years with a strong momentum. While production increases continued in European countries such as Germany, the United Kingdom, Italy, Spain, Romania, and the Netherlands, an increase in economic activity was also observed in France for the first time in over two years.
Situation in Middle Eastern Markets
The strongest production growth in the Middle East region occurred in the United Arab Emirates. While growth was recorded in Saudi Arabia, Kuwait, and Lebanon, production fell in Qatar, and a significant contraction process was experienced in Egypt.
Expert Evaluations and Threshold Value
Andrew Harker, Economics Director at S&P Global Market Intelligence, stated that the acceleration trend in global economic activity continued in September as well. While values above 50 in the index indicate improvement, the indicator has managed to remain above the 50.0 threshold value every month since January 2024.