Industrial production in Türkiye rebounded in May, expanding on both an annual and a monthly basis, official data from the country's statistical authority revealed Thursday.
The industrial production index rose 4.9% year-on-year in May and 3.1% compared to a month earlier, the Turkish Statistical Institute (TurkStat) said.
The surge of 4.9% came following the annual expansion of 3.1% in April and the monthly contraction of 3.2% in the same month, respectively.
The reading marks a positive development after a period of relatively muted and changing dynamics in the sector amid tight monetary conditions in the country.
Of the 12 subsectors measured, 11 posted annual rises, while one declined. The high technology index soared 30.6%, capital goods climbed 12%, and mining and quarrying rose 10% compared to last May.
However, the durable consumer goods index dropped 1.7% compared to the same month last year.
Among monthly figures, high technology production surged 25.3%, capital goods rose 8.6%, and the mining and quarrying index gained 5.3%.
Durable consumer goods rose 4.3% and the manufacturing index climbed 3.2% monthly in May.
Meanwhile, production in the electricity, gas, and steam subsector remained stable compared to April.
Commenting on the data, Industry and Technology Minister Mehmet Fatih Kacır drew attention to the growth recorded in the high technology products group.
"Our industrialists are producing, Türkiye is developing. In May, the industrial production index recorded a 4.9% annual increase and a 3.1% monthly increase. The highest increase occurred in the high-tech product group. Türkiye continues its journey with high-tech and value-added investments," Kacır said in a post on X.
