Turkish economy: Total turnover up 32.3 pct in Sept.

By Muhammed Ali Gurtas

ANKARA

Turkey's economy saw an annual hike of 32.3 percent in total turnover in September, according to the country's statistical authority on Friday.

TurkStat said the calendar adjusted total turnover index -- including industry, construction, trade and services sectors -- was 200.1 in September, versus 151.2 in the same month last year.

On a yearly basis, the turnover increased by 49.4 percent in industry, 3.5 percent in construction, 26.2 percent in trade, and 37.1 percent in the services sector.

According to TurkStat's definition, turnover is an important short-term indicator used to assess the country's economic situation.

"Turnover indices are calculated to follow the changes of this concept, which is composed of the sales of goods and services invoiced by the enterprise in the reference month over time, to monitor developments on a quarterly and yearly basis," it said.

The institute also said that all the enterprises which give value-added tax declarations to the country's Revenue Administration are included in the turnover index calculation.

Economic activities

Turnovers in the manufacturing industry and mining/quarrying sector -- sub-sectors of total industry -- saw annual increases of 49.2 percent and 54.4 percent, respectively.

Over the same period, the energy goods turnover index climbed 116.9 percent to show the top performance, while turnover of durable consumer goods increased by 21.6 percent, marking the lowest hike.

In the construction sector, the turnover of building construction in September fell by 11.2 percent on a yearly basis, while civil engineering activities and the construction of utility projects saw rises of 39.3 percent and 14.1 percent, respectively.

Excluding the motor vehicles and motorcycles, the wholesale and retail trade turnover indices increased by 31 percent and 22.5 percent, respectively.

Among all 33 sub-activities under the services sector, the highest turnover increase was seen in accommodation -- up 80.2 percent --, and the largest decline was recorded in services to buildings and landscape activities with a 31.9 percent-drop.