Tuesday, 02 January 2024 12:17 GMT

Türkiye Posts 2.4 Percent Surge in Industrial Output


(MENAFN) Türkiye's manufacturing sector expanded 2.4% annually in November, according to data released Friday by the Turkish Statistical Institute (TurkStat).

Seven of the 12 tracked sub-sectors demonstrated year-over-year growth, while the remaining five experienced contractions.

High-technology production skyrocketed 30.9% compared to the previous year's November performance, while capital goods manufacturing climbed 10.9% and medium-high technology output advanced 8.6%.

Conversely, low-technology production slipped 4.6% on an annual basis, and non-durable consumer goods manufacturing tumbled 6.4%.

Month-over-month analysis revealed a 2.5% uptick in aggregate industrial production throughout November.

Nine sub-sectors registered monthly advancement, with three posting declines.

Leading the monthly expansion, medium-high technology production jumped 10.5%, capital goods generation rose 5.9%, and medium-low technology output gained 4.8%.

However, the mining and quarrying sector plunged 4.8% from October levels, while energy generation decreased 0.7%.

The robust performance in advanced manufacturing categories signals strengthening competitiveness in Türkiye's industrial landscape, though traditional sectors face persistent headwinds. Capital goods growth particularly indicates sustained investment in production capabilities, while high-technology gains reflect the nation's push toward value-added manufacturing.

TurkStat's report underscores divergent trajectories across Türkiye's industrial base, with innovation-driven sectors outperforming conventional manufacturing segments.

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