Turkish manufacturing sector export markets climate index rose in September

The Istanbul Chamber of Industry Turkey Manufacturing Sector Export Markets Climate Index rose to 53.2 in September, reaching its highest level in the last 52 months, and the improvement in demand conditions gained momentum for the fifth consecutive month.

52-Month Peak in Export Climate

According to data released by the Istanbul Chamber of Industry (ICI), the index measuring the operating conditions of Turkey's manufacturing sector in foreign markets rose to 53.2 in September.

Standing at 52.7 in August, the index thus clearly demonstrated that the improvement in demand conditions in export markets accelerated for the fifth consecutive month.

Threshold Value of 50 in the Index

In this index measuring operating conditions, 50 is considered the threshold value; values above this level represent improvement, while values below represent deterioration.

While the index in question rose to 53.2 in September, it has managed to stay stably above the threshold value of 50 every month since January 2024.

Production Increase in Markets

In September, production registered an increase in nine out of Turkey's top 10 manufacturing export markets, and these countries maintained their economic vitality.

Among these major markets examined, manufacturing industry production was observed to decline significantly only in Poland.

Developments in the Global Economy

While economic activity followed a strong course in the USA, growth momentum reached its highest pace in over five years.

While recovery signals continued in European economies, production increases continued in Germany, the United Kingdom, Italy, Spain, Romania, and the Netherlands.

Share of France and Europe

Economic activity in France showed success in registering an increase, albeit at a limited level, for the first time in over two years.

Exports to the aforementioned European economies constitute 34 percent of Turkey's total manufacturing industry exports.