Turkey’s total turnover index rise by 69 percent in December

The Turkish Statistical Institute disclosed on Tuesday that Turkey’s total turnover index, encompassing sectors such as industry, construction, trade, and services, experienced a significant annual increase of 69 percent in December.

This data, provided by TurkStat, reflects a robust uptrend in economic activity across various sectors during the specified period. Specifically, the index surged by 85 percent in the construction sector, 72.4 percent in trade, 66.1 percent in services, and 59.4 percent in industry on a year-on-year basis in December. These substantial increases underscore the vibrancy and resilience of Turkey’s economy, suggesting positive momentum and growth prospects across key sectors.

Moreover, on a monthly basis, the total turnover index exhibited further growth, climbing by 6.6 percent within the same month. This monthly increase signifies sustained momentum in economic activity and business operations across industries, further reinforcing the positive trajectory observed in Turkey’s economic landscape.

The uptick in the turnover index reflects increased commercial transactions, business expansion, and consumer spending, highlighting the country’s ability to navigate through economic challenges and capitalize on emerging opportunities. Overall, the data underscores Turkey’s economic resilience and its capacity to maintain momentum amidst evolving global dynamics and domestic considerations.

“Industry increased by 6.2 percent, construction increased by 4.3 percent, trade increased by 7.4 percent, and services increased by 5.4 percent on a monthly basis in December 2023,” it further mentioned.