Türkiye’s manufacturing sector continued to see a gradual enchancment in export demand situations in May regardless of uncertainty in international commerce, in keeping with information on Tuesday.
The Manufacturing Export Climate Index, which tracks the efficiency of Türkiye’s key export markets, rose to 51.0 in May, up from 50.8 in April, the Istanbul Chamber of Industry (ISO) mentioned.
Readings above the impartial 50 threshold point out an enchancment within the export local weather, whereas values beneath recommend deterioration. The newest determine marks the seventeenth consecutive month of enchancment.
Although the May enchancment was modest, it reaffirmed a pattern of export demand growth for Turkish producers that started in early 2023.
The information urged Turkish producers might have a stronger restoration in core European markets to solidify present positive aspects and maintain momentum within the second half of 2025.
The United States – Türkiye’s second-largest export vacation spot – was one of many key drivers of the May momentum.
After recording its slowest tempo in 19 months in April, U.S. manufacturing rebounded in May with robust output progress, the information confirmed.
Alongside the U.S., the Middle East remained a key driver of exports. In the United Arab Emirates, non-oil financial exercise confirmed a notable month-to-month enhance, although the expansion price fell to its lowest degree since September 2021.
Despite a slowdown in manufacturing, Saudi Arabia and Kuwait nonetheless registered robust progress. Meanwhile, financial exercise declined in Egypt, Lebanon and Qatar.
Mixed image in Europe
The outlook in Europe, Türkiye’s largest commerce associate bloc, remained blended halfway by means of the second quarter, in keeping with information.
While Italy, Spain and the Netherlands sustained progress in financial exercise, France, Germany and Romania continued to expertise weak spot.
The U.Ok. stabilized after a minor contraction in April, exhibiting no change in output for May.
Russia, which had recorded declines within the prior two months, noticed a return to progress.
Among all economies tracked within the survey for May, Uganda recorded the strongest progress, with manufacturing increasing at its quickest tempo since August of final yr.
On the opposite hand, Mexico skilled the sharpest decline in financial exercise, largely as a result of impression of recent import tariffs by the United States. Similarly, Canada’s manufacturing contraction continued.
“Despite uncertainties in global trade conditions, key export markets continued to provide sufficient opportunities for growth in May, allowing Turkish manufacturing exporters to see further improvements in overall demand,” mentioned Andrew Harker, economics director at S&P Global Market Intelligence.
“The standout development of the month was the recovery in U.S. growth. However, for a more substantial improvement in conditions, firms will be looking for similar positive trends in major European markets,” Harker famous.
Source: www.dailysabah.com