labor cost – Muhasebe News https://www.muhasebenews.com Muhasebe News Sat, 25 Mar 2017 09:06:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 Labor Cost Index in Turkey, IV. Quarter: October-December, 2016 https://www.muhasebenews.com/en/labor-cost-index-in-turkey-iv-quarter-october-december-2016/ https://www.muhasebenews.com/en/labor-cost-index-in-turkey-iv-quarter-october-december-2016/#respond Sun, 26 Mar 2017 08:00:46 +0000 https://www.muhasebenews.com/?p=11936 Hourly labor cost index increased by 0.8% compared to previous quarter
Seasonally and calendar adjusted hourly labor cost index increased by 0.8% in the fourth quarter of 2016 compared to previous quarter for the total of covered economic activities. The breakdown by economic activity shows that this increase was 2.9% for industry sector, 3.2% for construction sector and decrease was 0.8% for services sector.

The highest increase in seasonally and calendar adjusted hourly labor cost index was in economic activity E (Water supply; sewerage, waste management and remediation activities) with 6.2% in the fourth quarter of 2016 compared to previous quarter.

Hourly labor cost index, Quarter IV: October – December, 2016
[2010=100]

Hourly earnings index increased by 0.9% compared to previous quarter
Seasonally and calendar adjusted hourly earnings index increased by 0.9% in the fourth quarter of 2016 compared to previous quarter for the total of covered economic activities. Economic activity breakdown shows that this figure was increased by 2.8% for industry sector, 3.0% for construction sector and decreased by 0.4% for services sector.

The highest increase in seasonally and calendar adjusted hourly earnings index was in economic activity D (Electricity, gas, steam and air conditioning supply) with 9.2% in the fourth quarter of 2016 compared to previous quarter.
Hourly earnings index, Quarter IV: October – December, 2016
[2010=100]
Hourly labor cost excluding earnings index decreased by 2% compared to previous quarter
Seasonally and calendar adjusted hourly labor cost excluding earnings index decreased by 2% in the fourth quarter of 2016 compared to previous quarter for the total of covered economic activities. Economic activity breakdown shows that this figure was decreased by 3.4% for industry sector, 1.2% for service and increased by 2% for construction sector.

The highest decrease in seasonally and calendar adjusted hourly labor cost excluding earnings index was in economic activity J (Information and communication) with 13% in the fourth quarter of 2016 compared to previous quarter.
Hourly labor cost excluding earnings index, Quarter IV: October – December, 2016
[2010=100]

Seasonally and calendar adjusted hourly labor cost indices, 2013-2016

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]]> https://www.muhasebenews.com/en/labor-cost-index-in-turkey-iv-quarter-october-december-2016/feed/ 0 Machinery in Turkey https://www.muhasebenews.com/en/machinery-in-turkey/ https://www.muhasebenews.com/en/machinery-in-turkey/#respond Mon, 13 Mar 2017 07:44:45 +0000 http://www.muhasebenews.com/?p=10416 Machinery manufacturing continues to be one of the key growth drivers of the Turkish economy. This sector plays a crucial role in the development of Turkey’s greater manufacturing industry due in no small part to its capability to produce intermediate goods and provide inputs to other key sectors such as construction, energy, textiles, agriculture, and mining. The machinery manufacturing sector in Turkey is known for being R&D intensive — Turkey graduates over 450,000 engineers every year — and for creating high value. Local sourcing accounts for approximately 85 percent of all inputs at the production level.

  • Total export value of the machinery industry reached USD 13.4 billion in 2015, up from USD 5.2 billion in 2005.
  • Annual growth rate of machinery exports between 2005 and 2015 was 16 percent, double Turkey’s overall export growth rate during the same period.
  • As the 2nd largest export industry of Turkey, accounting for a 9.3 percent share in Turkey’s total exports, machinery products are exported to more than 200 countries.
  • 60 percent of the total machinery product exports are shipped to the EU countries and the USA.
  • Total imports of the machinery sector surpassed USD 26 billion in 2015 while posting an average annual growth of 10.3 percent over the past decade, evidencing the strong demand from the domestic market.
  • FDI inflow in machinery manufacturing represents a significant source for Turkey’s overall FDI amount, making up around 20 percent of total manufacturing FDI between 2005 and 2015.
  • R&D expenditures on machinery manufacturing reached USD 600 million in 2014, accounting for almost 10 percent of the total R&D expenditure of Turkey.
  • Turkey’s competitiveness in the machinery sector is driven by favorable input costs and strong enablers. Input costs include competitive labor cost, an affordable and reliable energy supply, and logistical advantages based on the geostrategic location of Turkey, while enablers include a skilled workforce, generous investment incentives, an innovation-oriented infrastructure, and a strong supply base and domestic clusters.

Date: 13 March 2017

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.

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