Total turnover index including industry, construction, trade, and services sectors posts 30.4% annual rise
The Turkish economy saw a 30.4% annual rise in total turnover in February, according to the latest official data released on Tuesday.
The industry and trade sectors posted an increase of 37.7% and 32.8%, respectively, year-on-year in February, the Turkish Statistical Institute (TurkStat) said.
The construction index registered an 18.7% increase annually, followed by the service sector with a rise of 11.3%.
On a monthly basis, the seasonally and calendar-adjusted total turnover index was up 1% in February.
“Construction increased by 5.6%, trade increased by 1%, services increased by 3.5%, and industry decreased by 0.5% on monthly basis in February 2021,” the authority said.
According to TurkStat, turnover is an important short-term indicator used to assess the country’s economic situation.
Turnover indices are made up of sales of goods and services invoiced by enterprises in the reference month over a certain period to monitor developments on a quarterly and yearly basis, it said.
All enterprises that declare their value-added tax to the Turkish Revenue Administration are included in the turnover index calculation.