Bouncing back from the devastating effects of the COVID-19 outbreak, Turkey’s economy shows a robust recovery in 2021.
Recording the highest level since the last 38 months, the Turkey Manufacturing Export Climate Index, compiled jointly by IHS Markit and the Istanbul Chamber of Industry, rose from 54.7 in March to 56.0 in April 2021. The index has been running above the 50.0 thresholds for the third month in a series.
“Strengthening demand conditions in the world provide more opportunities for Turkish manufacturing ecosystem to make exports,” notes Andrew Harker, Economics Director at IHS Markit.
Top three export destinations of Turkey; Germany, the UK and the US account for around 10 percent, 7 percent and 6 percent of Turkish manufacturing exports respectively and expansion of business activity in these countries encourage Turkish manufacturers to sell more goods abroad.
Source: Republic of Turkey Investment Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.