12.06.2020
Turnover Indices, April 2020 in Turkey
Total turnover index (2015=100) including industry, construction, trade, and services sectors decreased by 20.9% on annual basis in April 2020.
At the detail of the total turnover index; industry decreased by 24.9%, construction decreased by 19.6%, trade decreased by 17.4% and services decreased by 23.9% on annual basis in April 2020.
Total turnover annual rate of change (%), April 2020
Turnover indices annual rate of change (%), April 2020
Total turnover decreased by 24.5% on monthly basis
Total turnover index (2015=100) including industry, construction, trade, and services sectors decreased by 24.5% on monthly basis in April 2020.
At the detail of the total turnover index; industry decreased by 26.6%, construction decreased by 9.8%, trade decreased by 25.5% and services decreased by 22.7% on monthly basis in April 2020.
Total turnover monthly rate of change (%), April 2020
Turnover indices monthly rate of change (%), April 2020
The next release on this subject will be on July 13, 2020.
_____________________________________________________________________________________________________
EXPLANATIONS:
Annual changes refer to the change of calendar adjusted index values compared to the same month of the previous year.
Monthly changes refer to the change in seasonally and calendar adjusted index values compared to the previous month.
Value Added Tax (VAT) Declarations are used as the data source in the calculation of Turnover. With the General Communique on Tax Procedure Law No. 518, dated 24 March 2020; The deadlines for submission of March, April and May 2020 VAT Declarations have been extended until the end of Monday, July 27, 2020, and all the VAT Declarations of April 2020 have not been submitted by the relevant parties. For this reason, Turnover Indices for April 2020 were calculated using alternative data sources such as monthly industrial production survey, e-invoice and e-archive invoice, e-ticket, e-self employment invoice, card payment and foreign trade data in addition to VAT declarations in line with international norms and methodologies. After the VAT Declaration data are provided, the published indexes will be revised if necessary.
Source: TurkStat
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 Karen Audit 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.
