Turkish Statistical Institute, TurkStat, unveiled Turkey’s industrial production increasing 17.4 percent in comparison with April. From a sector-based perspective, when compared to the April figures, the manufacturing industry sector index increased by 19.3 percent, the electricity, gas, steam and air conditioning production and distribution sector index increased by 4.9 percent and the mining and quarrying sector index increased by 4.5 percent in May 2020.
TurkStat also unveiled Turkey’s total turnover index, reporting a 12.5 percent monthly upward trend for the Turkish economy in May. Sectors that contributed to the turnover index are industry, construction, trade and services. According to the data, "A breakdown of the figures shows that industry increased 15.7 percent, construction 8.3 percent, trade 14.3 percent and services 2.2 percent on monthly basis in May".
Commenting on the figures, Minister of Treasury and Finance Berat Albayrak said that these results are indications of the “V shape” recovery in Turkey in the wake of the pandemic.
Minister of Industry and Technology Mustafa Varank also released a statement on Turkey’s industrial production figures. “While the industrial production in May decreased on a yearly basis within our expectations, it was boosted by 17.4 percent in comparison with April,” he stressed.