TurkStat Releases Retail Sales Volume and Turnover Indices

TÜİK releases industrial production and retail sales volume indices as well as turnover indices According to data from Turkey's Statistical Institute (TÜİK), industrial production, which reached its worst level in history in April due to the pandemic's impact, increased by 4.4% year-on-year in July and by 8.4% month-on-month. In July 2020, the mining and quarrying sector index rose 5.4% compared to the previous month, the manufacturing sector index increased 8.6% and the electricity, gas, steam and air conditioning production and distribution sector index rose 6.4%.

Retail turnover up 21.4% year-on-year

Retail sector sales in July showed a 11.9% increase compared to the same month of the previous year. In the same month, food and beverage sales increased 12.3%, non-food sales (excluding automotive fuel) rose 13.9% and automotive fuel sales climbed 7.2%. At constant prices, retail sales volume rose 9.5% compared to the previous month.

Services sector improves from previous month

At current prices, retail turnover in July 2020 increased 21.4% compared to the same month of the previous year. The monthly increase was 10.7%. In July compared to the previous month, food and beverage sales rose 4.2%, non-food sales (excluding automotive fuel) increased 14.6% and automotive fuel sales climbed 11.9%. In the combined industrial, construction, trade and services sectors, the turnover index showed a 20.2% year-on-year increase in July 2020. Looking at sub-details of total turnover, in July 2020 the industrial sector turnover index increased 20.2% year-on-year, the construction turnover index rose 14.9%, the trade turnover index climbed 32.9% while the services turnover index fell 12.5%. On a monthly basis, the services turnover index increased 11.9% compared to June as tourism recovered.   Source