The calculation of the industrial production index is based on the monthly industrial production survey and value added tax declarations.

Turkiye’s industrial production increased by 4.5 per cent year on year (YoY) and by 1.9 per cent month on month (MoM) in January this year. The manufacturing index increased by 5.8 per cent YoY and 2.1 per cent MoM. Electricity, gas, steam and air conditioning supply index decreased by 5.7 per cent YoY and increased by 1.4 per cent MoM during the month.

In the regions affected by the earthquake, force majeure was declared and VAT declarations were postponed. The response rate for the monthly industrial production survey in these regions was 38 per cent.

For this reason, alternative data sources such as e-invoice and e-archive invoice data were used to impute missing observations in the January calculations, an official release said.

Fibre2Fashion News Desk (DS)