Turkey’s industrial production for 2005
Data released by Turkish Statistics Institute (TUIK) show that the country's industrial production rose 8.6 percent year on year in December 2005. Industrial production index reached its second-highest level in December with 139.7 after 141.6 in September 2005. Mining sector indicated an increase of 14.8 percent in December while manufacturing sector grew 8.7 percent and electric, gas and water sector rose 5.8 percent compared to the corresponding period of last year. The improvement in December led to an 8.5 percent rise in the final quarter. The growth in industrial production during the final quarter is expected to increase the growth rate of gross national product (GNP) to 6-7 percent. In 2005, the industrial production rose 5.5 percent from a year earlier. The average industrial production index rose from 123.4 in 2004 to 130.1 in 2005. Industrial production accounts for approximately 30 percent of Turkey's gross domestic product (GDP). Therefore, the 5.5 percent rise is expected to contribute 1.5-1.8 points to the GNP in 2005.