Tuesday, 02 January 2024 12:17 GMT

Türkiye Sees 1.1 Percent Decline in Industrial Output


(MENAFN) Türkiye's industrial sector contracted for the third consecutive reading, with output declining 1.1% year-on-year in March as weakness across manufacturing and mining dragged on the broader economy, official data revealed Friday.

The industrial production index also retreated 0.8% on a monthly basis, the Turkish Statistical Institute (TurkStat) reported — a dual decline that underscores the sustained pressure bearing down on the country's industrial base.

Mining Leads the Slide
Breaking down the damage by subsector, mining and quarrying bore the heaviest blow, posting the sharpest annual contraction at 5.6% compared with March 2025. Monthly figures told a similarly grim story, with mining and quarrying output falling a further 1.6% from February.

Manufacturing — the single largest component of Türkiye's industrial production index — was not spared, declining 1.3% year-on-year and retreating 1.1% on a month-on-month basis. Given its outsized weight in the headline index, the sector's weakness was the primary driver of the overall downturn.

Energy Sector Offers a Rare Bright Spot
Not all readings pointed downward. The electricity, gas, steam and air conditioning supply index bucked the trend, surging 5.8% annually and advancing 3.9% month-on-month — providing a partial but insufficient cushion against the broader industrial decline.

The March figures add to a growing body of evidence that Türkiye's industrial engine is losing momentum, with the energy sector's resilience doing little to offset deepening contractions in the economy's two most consequential productive pillars.

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