Turkey: Industrial output sees highest rise since 2018
Industry minister says 2021 will be 'leap year' for Turkey thanks to reforms in fields of law, economy, and vaccine efforts
ANKARA
Turkey's seasonally and calendar adjusted industrial production index last November saw its largest annual rise since January 2018, the industry and technology minister said.
Mustafa Varank's comments came after the Turkish Statistical Institute released figures on the country's industrial production.
"It is very important that one of the drivers of the main figure is the month-on-month increase of 13.7% in high technology products," Varank wrote on Twitter.
The seasonally and calendar-adjusted industrial output climbed 1.3% in November from the previous month, and calendar-adjusted industrial production surged 11% year-on-year.
"We are one of the countries that increased industrial production the most in November 2020," Varank said.
November and October figures indicate that Turkey closed out 2020 with a positive growth rate despite the economic fallout from the coronavirus pandemic, he noted.
The country is determined to make the rise permanent with the backing of its recent high technology investment moves, Varank said.
"We will continue to support added value production for sound, sustainable and permanent economic growth," he noted.
The strong growth of 3.6% in capital goods signals that the investment appetite will continue in the coming days, Varank said.
"Turkey's ability to diversify in industrial goods and adaptability to the extraordinary situation distinguished it from other countries," Varank stressed, adding:
"2021 will be a ‘leap year’ for Turkey thanks to the reforms the government will implement in the fields of law and the economy, and the positive developments in vaccination efforts."
