Türkiye's export market conditions improved modestly in May, supported by signs of recovery in the Middle East despite continued weakness across several key European economies, a survey showed on Monday.
The Türkiye Export Climate Index, compiled by the Istanbul Chamber of Industry (ISO) and S&P Global to measure business conditions in the main export destinations of Turkish manufacturers, rose to 50.3 in May from 50.2 in April.
The reading returned to its March level and marked the 29th consecutive month of improvement in export market conditions. A figure above 50 indicates strengthening demand conditions, while a reading below that threshold signals deterioration.
However, several major European markets continued to show signs of weakness.
Output declined further in Germany and France, the two largest economies in the eurozone, while France recorded its sharpest contraction since January 2024.
Economic activity in the United Kingdom also returned to decline in May.
Germany, France and the U.K. together account for roughly 19% of Türkiye's manufacturing exports.
Romania and Russia also recorded contractions, while Italy and Spain posted only marginal growth.
In the United States, economic activity continued to expand for a 40th consecutive month, although growth eased compared with April.
Andrew Harker, economics director at S&P Global Market Intelligence, said generally stable demand conditions in export markets overshadowed the differing trends emerging in key regional markets.
Harker said signs of weakness became more evident in Europe, noting that the region currently presents a weak growth outlook, as many economies are struggling with rapid price increases.
According to the survey, the Middle East showed stronger momentum following disruptions caused by the Iran war that erupted in late February.
Non-oil business activity in the United Arab Emirates (UAE) expanded at its fastest pace in three months, while growth accelerated in Saudi Arabia.
Declines in output across Egypt, Kuwait, Lebanon and Qatar were less pronounced than in the previous survey period.
S&P Global's Harker said Middle Eastern economies showed a more positive picture and signs of recovery following the Iran war.
He said geopolitical challenges are likely to continue limiting international demand, at least in the near term.
Among all economies covered by the Purchasing Managers' Index (PMI) data, Singapore recorded the strongest increase in output in May, closely followed by India.
Kenya registered the sharpest decline in economic activity, largely due to rising costs, although the country accounts for only a small share of Türkiye's manufacturing exports.
