14.05.2020

Industrial Production Index, March 2020 in Turkey

When the subsectors of the industry (based on 2015=100) were examined, mining and quarrying index decreased by 5.6%, manufacturing index decreased by 1.9% and electricity, gas, steam and air conditioning supply index decreased by 0.9% in March 2020, compared with same month of previous year.

Industrial production decreased by 7.1% monthly

When the subsectors of the industry were examined, mining and quarrying index decreased by 2.2%, manufacturing index decreased by 7.5% and electricity, gas, steam and air conditioning supply index decreased by 5.7% in March 2020, compared with previous month.

Industrial production increased by 4.4% compared with the same quarter of the previous year

In the first quarter of 2020, calendar adjusted industrial production increased by 4.4% compared with the same quarter of the previous year. The seasonally and calendar adjusted industrial production remained the same compared with the previous quarter.

The next release on this subject will be on June 12, 2020.
                                                                                                                                                                                    
EXPLANATIONS

Annual changes refer to the changes of calendar adjusted index values compared to the same month of the previous year.

Monthly changes refer to the changes of seasonally and calendar adjusted index values compared to the previous month.

The data source for calculating the Industrial Production Index is mainly the Monthly Industrial Production Survey. In addition, data obtained from value added tax (VAT) declarations are also used. With the “The Tax Procedure Law Circular no. 518, dated 24 March 2020”; The period of declaration of VAT statements for March, April and May of 2020 has been extended until the end of Monday, July 27, 2020 for certain sectors, and not all of the VAT declarations of March 2020 have been declared by those concerned. Therefore, the Industrial Production Index for March 2020 was calculated using alternative data sources such as e-invoice, e-archive invoice, card payment and foreign trade data in line with international norms and methodologies. The indexes published will be revised if necessary, after the provision of VAT declaration data.

Source: TurkStat
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