Turkey… The industrial production index rose 8.7 percent in July

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The industrial production index in Turkey grew by 8.7 percent on an annual basis last July, supported by an increase in sub-indices, most notably mining and manufacturing.

This came according to the latest data announced by the Turkish Statistics Authority on Monday, which indicated that the industrial production index on a monthly basis decreased by 4.2 percent compared to June 2021.

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On an annual basis, the mining and mining sub-sector index rose 15.2 percent.

The manufacturing industries account for 7.9 percent, and the production and distribution of electricity, gas, steam, and air conditioning by 11.7 percent.

The Industrial Production Index is an indicator that measures the total volume of industrial production in a country, regardless of its price value, and is considered a leading indicator of GDP.

The productive and industrial sectors in Turkey have recovered from the negative consequences of the Corona pandemic, amid the improvement of domestic and global demand for both production and consumption.

The Turkish economy grew by 21.7 percent on an annual basis in the second quarter of 2021, recovering strongly from a sharp slowdown a year ago driven by the restrictions of the Corona pandemic.

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In 2020, the $720 billion economies grew by 1.8 percent.

It was one of the few global economies to avoid an annual contraction amid the initial fallout from the pandemic.