Industrial Production Declines by 3.1% Year-on-Year

In October, industrial production decreased by 3.1% year-on-year. According to the statement from the Turkish Statistical Institute (TÜİK), when examining the sub-sectors of industry (reference year 2021=100), the mining and quarrying sector index in October 2024 decreased by 14.2% compared to the same month of the previous year, the manufacturing industry sector index decreased by 3.3%, and the electricity, gas, steam, and air conditioning production and distribution sector index increased by 7.6%.

Monthly, industrial production decreased by 0.9%. When examining the sub-sectors of industry in October 2024, the mining and quarrying sector index decreased by 4.8% compared to the previous month, the manufacturing industry sector index decreased by 1.0%, and the electricity, gas, steam, and air conditioning production and distribution sector index increased by 3.3%.