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- October 13, 202618°
- BIST10012,134-0.14%
- USD49.34+0.24%
- EUR55.21-0.01%
- GOLD4,211.70+0.50%
- INTEREST37.00%-1.00
- BITCOIN83,736+2.42%
- October 13, 202618°
ISO export climate index rises to 52.2 in July as activity grows in eight key markets
The ISO Türkiye Manufacturing Sector Export Markets Climate Index rose from 50.4 in June to 52.2 in July, recording its most significant improvement in eight months. Economic activity increased in eight of the 10 largest export markets for Türkiye’s manufacturing sector, while France and Poland saw declines.
The July results of the ISO Türkiye Manufacturing Sector Export Markets Climate Index, which measures activity conditions in the main export markets of Türkiye’s manufacturing sector, have been released. A reading above 50 indicates an improvement in the export climate, while a reading below 50 signals deterioration.
The index rose from 50.4 in June to 52.2 in July. Demand conditions in export markets therefore improved moderately, marking the most significant recovery in eight months.
Activity increased in the largest markets
Economic activity increased in eight of the 10 largest export markets for Türkiye’s manufacturing sector in July. France and Poland were the two countries where economic activity declined.
In Germany, the largest export market, output grew for the first time in four months, albeit moderately. The UK economy also returned to expansion. Exports to Germany and the UK account for approximately 15 percent of Türkiye’s manufacturing sector’s total exports.
Growth accelerated in the US, Italy and Spain
Growth in economic activity in the US reached its highest rate in nine months. Growth in Italy reached its highest rate in eight months, while economic activity in Spain remained strong and recorded its fastest increase in a year and a half.
Manufacturing output in Romania began the third quarter with a moderate increase. The rise recorded in July ended a 25-month period of contraction in the country.
Egypt contracted while Uganda recorded higher output
The sharpest contraction in output among the economies monitored was recorded in Egypt. However, the decline in Egypt was the most moderate since March.
The fastest increase in output occurred in Uganda, followed by Thailand and Singapore. However, the three countries accounted for a very limited share of Türkiye’s manufacturing industry exports.
Harker: Opportunities to secure new business increased
Andrew Harker, economics director at S&P Global Market Intelligence, said growth signals from some of Türkiye’s main export markets showed that the global economy had made a positive start to the second half of the year.
Harker said economic activity had resumed its increase or gained momentum from the previous month in most major export markets in July. He said these developments offered manufacturers more opportunities to secure new business, while noting that continuing uncertainty over developments in the Middle East could make the outlook more volatile in the coming months.
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