10.02.2025 16:23
The Minister of Trade, Ömer Bolat, announced that the industrial production index increased by 5% month-on-month and 7% year-on-year in December, and that the unemployment rate has decreased to 8.5%. The Minister emphasized that the merchandise export for the year 2024 amounted to 262 billion dollars.
Trade Minister Ömer Bolat stated, "The industrial production index increased by 5% month-on-month and 7% year-on-year in December. The monthly increase occurred at the highest rate in the last 21 months, while the index value reached the highest level of the series."
Minister Bolat evaluated the December industrial production index and labor statistics announced by the Turkish Statistical Institute. In a statement made on his social media account, Bolat said, "According to the labor statistics announced by TÜİK, the seasonally adjusted unemployment rate decreased from 8.6% in November to 8.5% in December 2024. Thus, the average unemployment rate in 2024 was 8.7% (OVP: 9.3%), the lowest level in the last 12 years. The industrial production index increased by 5% month-on-month and 7% year-on-year in December. The monthly increase occurred at the highest rate in the last 21 months (March 2023: 6.1%), while the index value reached the highest level of the series. This strong increase was influenced by the monthly increase of 51.3% in high technology production (contribution: 3.1 points) and an annual increase of 43.5% (contribution: 4.5 points). With this strong performance in December, industrial production grew by 2.2% year-on-year in the fourth quarter of 2024," he expressed.
"2024 GOODS EXPORTS REACH 262 BILLION DOLLARS" Minister Bolat also emphasized that the Istanbul Chamber of Industry's Turkey Manufacturing Sector Export Climate Index, announced today, rose to 51.2 in January, indicating an improvement for the 13th consecutive month in external demand conditions, and noted: "Our goods exports for 2024 have increased by 2.4% compared to last year, reaching 262 billion dollars. As of November 2024, our annualized services exports have risen to 113.7 billion dollars with an 8% increase. With the effective supports we apply for exports and our strong trade diplomacy activities, our export performance creates a momentum that supports industrial production and employment. By intervening in unfair practices on the import side, domestic production and employment are being supported. In this context, we are resolutely continuing our efforts to further strengthen our production capacity through innovation-based transformations and contribute to economic growth. As the Ministry of Trade, we continue to work decisively to further advance this performance and increase the successes of our economy on the path of growth.