KSO President Zeytinoğlu's October Assessment

KSO Chairman Zeytinoğlu evaluates October capacity utilization rate: "When we compare it to 2018 and 2019, the years unaffected by the pandemic, we are pleased to see increases in capacity utilization rates in both Turkey overall and Kocaeli" Kocaeli Chamber of Industry (KSO) Board Chairman Ayhan Zeytinoğlu stated that when comparing to 2018 and 2019, the years unaffected by the pandemic, they are pleased to observe increases in October capacity utilization rates in both Turkey and Kocaeli.

Manufacturing sector capacity utilization rate remained unchanged

Pointing out that the capacity utilization rate in the manufacturing sector, which they regularly announce each month, remained at 71.3 percent in Kocaeli in October, the same level as the previous month, and increased by 0.8 percentage points compared to the same month last year, Zeytinoğlu stated: "Turkey's manufacturing sector capacity utilization rate, announced by the Central Bank at 78 percent, declined by 0.1 percentage points compared to the previous month while increasing by 2.6 percentage points compared to the same month last year. When we compare it to 2018 and 2019, the years unaffected by the pandemic, we are pleased to see increases in capacity utilization rates in both Turkey overall and Kocaeli. Looking at the sectors, the chemical, metal, machinery, plastics and rubber sectors stand out as those with capacity utilization rates above the general average in October." he said. Noting that in their survey of industrial facilities in Kocaeli in October, 55 percent of companies reported that their capacity utilization rates increased compared to the previous month, Zeytinoğlu spoke as follows: "Looking at the expectations of Kocaeli companies participating in the October survey for the domestic and foreign markets in November, 23 percent of companies stated that their domestic orders increased while 20 percent stated they decreased. For 57 percent of companies, there was no change in domestic order volumes. Among exporting companies, 19 percent stated that their foreign orders increased in November while 16 percent reported a decline. For 65 percent of companies, there was no change in foreign order volumes received."  

KOCAELİ (AA)