• Turkish economy expected to achieve stronger growth results in Q2 compared to previous quarter, trade minister says

ISTANBUL

Türkiye's industrial production expanded 8.3% year-on-year in June, hitting the highest level in 16 months, the Turkish Statistical Institute (TurkStat) said Monday.

Of the 12 sub-sectors measured, 10 posted annual rises, while two declined.

The high technology index soared 88.2%, capital goods climbed 20%, and manufacturing rose 9.5% compared to June last year.

However, the durable consumer goods index lost 1.4% yearly, and the electricity, gas, and steam index dropped 1.1%.

On a monthly basis, the overall industrial production expanded 0.7% in June.

Of the 12 sub-sectors measured, six posted monthly rises, while the other six declined.

Among monthly figures, high technology production surged 38.1%, capital goods rose 4.8%, and the electricity, gas, steam index gained 1.9%.

Meanwhile, production in mining and quarrying declined 5% on a monthly basis, durable consumer goods fell 4.4%, and medium-high technology was down 3.5% in June.

Evaluating the data, Türkiye's Trade Minister Omer Bolat stressed that the industrial production index reached its highest level in the last 16 months on an annual basis in June.

Bolat stated that in the second quarter of this year, the index rose to 5.5%, demonstrating the strengthening of growth performance.

"Accordingly, the Turkish economy, which grew by 2% in the first quarter of this year, is expected to achieve even stronger growth in the second quarter," he said in a written statement.