Manufacturing export climate index continues to improve

ISTANBUL

The final month of 2024 saw a further improvement in the export climate for Turkish manufacturers, the Istanbul Chamber of Industry’s (İSO) survey has shown.

The İSO Türkiye Manufacturing Export Climate Index rose from 50.6 in November to 50.9 in December.

Any reading above the 50 no-change mark indicates an improvement in the health of the export climate.

The positive reading in the final month of 2024 completed a full calendar year of improving demand conditions in export markets, said the chamber in a statement on Jan. 8.

The latest strengthening of the climate was modest but more pronounced than in November, it added.

The strongest expansions in business activity of the countries covered by PMI data in December were seen in the Middle East.

In the U.S., which is the destination for 6 percent of manufacturing exports, business activity increased sharply last month, while the performance of European economies was more mixed.

“The strengthening of demand conditions in December meant that every month of 2024 saw an improvement in the export climate for Turkish manufacturers, but this positive overall picture masked contrasting trends across different parts of the world,” commented Andrew Harker, economics director at S&P Global Market Intelligence.

As 2025 gets underway, Turkish firms will be hoping to see a more even demand environment across key trading partners, Harker said.