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
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