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Industrial Production and Manufacturing, Two of the Best Turkish Industries in Q2

Written by: Bridgewest

Industrial-production-and-manufacturing-two-of-the-best-Turkish-industries-in-JuneThe beginning of the year meant the increase of several industrial sectors in Turkey. Among these, industrial production and manufacturing registered the best results between April and June 2017. Foreign investors who want to open companies in one of the above-mentioned industries can rely on our company registration consultants in Turkey.

Turkish industrial production registered the highest increase in April

It comes as no surprise that Turkey is one of the most important players in the Europe and Asia when it comes to industrial production as many foreign companies continue to set up facilities used for the manufacturing of their products. The last calendar-adjusted industrial production index shows April as the 2017 month in which this sector registered a 6.7% growth, 2.7% higher than predicted.

Among the sector registering the highest growth rates were mining and quarrying which rose by 1.8%, manufacturing which grew by 2.6% and the Turkish energy sector comprised of electricity, gas and their distribution which registered a 0.4% growth. However, the highest increase was brought by the production of capital goods: 12.2%.

Manufacturing registered the first serious growth for the first time this year

Not only industrial production rose at a fast pace since the beginning of the year, but Turkish manufacturing companies registered the fastest and the higher growth in June, according to the Purchasing Managers’ Index (PMI) which was released at the beginning of July. This was also a new record for this industry as it June was the month counting the greatest new orders number since 2011. The PMI grew to 54.7 points, up by 1.2% from the previous report. This was also the highest growth since the 6.7% increase announced in April.

New orders, factory output but also employment numbers have contributed to this new record. The PMI also indicates an improvement in the overall business conditions in the goods-producing segment. This was also the greatest increase rate in terms of employment in the last 29 months.

If you are interested in starting a business in Turkey and need assistance, do not hesitate to contact us. You can also rely on our Turkish company formation agents for information on the best performing sectors.

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