Emerging from the devastating effects of the COVID-19 pandemic, the Turkish economy is showing a robust recovery. The upward trend in industrial production continues despite the disruption of global supply chains. Turkey has been named one of the G20 economies that boosted industrial output the most annually in the first quarter of 2021.
Turkey's industrial production index in March 2021 inched 0.7 percent on a monthly basis and 16.6 percent y-o-y, Turkish Statistical Institute (TurkStat) released. Cruising ahead of most of the G20 countries, Turkey's industrial production climbed by 2.6 percent on a quarterly basis and 12.3 percent when compared to the same quarter of last year.
“Results unveil Turkey is one of the countries having the highest increase in industrial production in Q1 2021 among the G-20," Minister of Industry and Technology Mustafa Varank commented. “Turkey's industrial production maintained its upward trend for 11 consecutive months," added Minister Varank.