Türkiye's total turnover up 77% year-on-year in July

ISTANBUL

Türkiye's total turnover index was up by 77% in July on a yearly basis, official figures showed on Tuesday.

The turnover index rose 62.7% in the industry sector, 116.7% in construction, 84.9% in trade, and 71.6% in the services sector year-on-year, according to the Turkish Statistical Institute (TurkStat).

On a monthly basis, the index was up by 11.2%, with industry increasing 9.8%, construction 11.3%, trade 12.6% and services 9.7%.

Turnover is an important short-term indicator used to assess the country's economic situation.

All enterprises that declare their value-added tax to the Turkish Revenue Administration are included in the turnover index calculation.