Berat Albayrak

Treasury and Finance Minister Berat Albayrak made the following statement on Twitter, referring to the Industrial Production – Retail Sales Index announced today, which came better than expected:

“Thank you to all our producers who trust and believe in the future of this country …

Industrial production reached 4.4% year-on-year in July. Retail sales volume increased by 11.9%.

Additionally, the business volume index in the construction, trade and services sectors increased by 20.2% annually in July.

The Turkish economy was hit hard after the shutdown in April in light of the Coronavirus pandemic, and the business volume index in the construction, trade and services sectors fell sharply by 20.9% that month (April).

The index rose again, after recovering with easing of activities, by 20.2% annually in July.

Looking at the sub-details of the business volume in the construction, trade and services sectors, in July 2020, the manufacturing sector turnover index increased by 20.2%, the construction turnover index increased by 14.9%, the trade turnover index increased by 32.9%, while the services turnover index decreased by 12.5%.

The volume of traded index in the total industrial, construction, trade and services sectors increased by 11.7% per month in July 2020.

Looking at the sub-details of total turnover, in July 2020, the monthly industrial sector turnover index increased by 12.1%, the construction turnover index increased by 11.5%, the trade turnover index increased by 11.4% and the services turnover index increased by 11.9%.