Industrial Production Index, April 2020 in Turkey
When the subsectors of the industry (based on 2015=100) were examined, mining and quarrying index decreased by 14.5%, manufacturing index decreased by 33.3% and electricity, gas, steam and air conditioning supply index decreased by 14.9% in April 2020, compared with same month of previous year.
Industrial production decreased by 30.4% monthly
When the subsectors of the industry were examined, mining and quarrying index decreased by 13.0%, manufacturing index decreased by 32.5% and electricity, gas, steam and air conditioning supply index decreased by 12.4% in April 2020, compared with previous month.
The next release on this subject will be on July 13, 2020.
EXPLANATIONS
Annual changes refer to the changes of calendar adjusted index values compared to the same month of the previous year.
Monthly changes refer to the changes of seasonally and calendar adjusted index values compared to the previous month.
The data source for calculating the Industrial Production Index is mainly the Monthly Industrial Production Survey. In addition, data obtained from value added tax (VAT) declarations are also used. With the “The Tax Procedure Law Circular no. 518, dated 24 March 2020”; The period of declaration of VAT statements for March, April and May of 2020 has been extended until the end of Monday, July 27, 2020 for certain sectors, and not all of the VAT declarations of April 2020 have been declared by those concerned. Therefore, the Industrial Production Index for April 2020 was calculated using alternative data sources such as e-invoice, e-archive invoice, card payment and foreign trade data in line with international norms and methodologies. The indexes published will be revised if necessary, after the provision of VAT declaration data.
Source: TurkStat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
